Admin Reportedly Souring on Pizza CEO
The president and members of his administration are talking to potential candidates to fill a Federal Reserve governorship that they had previously said was going to 2012 presidential candidate and Godfather’s Pizza CEO Herman Cain. Donald Trump’s economic advisor, Larry Kudlow, said that Cain must decide if he wants to withdraw. “At the end of the day, it will probably be up to Herman Cain if he wants to stay in that process or not,” Kudlow said. “As far as we are concerned he is still in the process and it is proceeding.” However, at least three GOP Senators have already said they would not support Cain’s nomination. Cain faces allegations that he sexually harassed two women -- which derailed his presidential campaign -- and the White House had defended him. Cain himself posted a video to Facebook not quite addressing the allegations, saying he’d “be able to explain it this time where they wouldn’t let me explain it the last time.” The WH is also considering replacements for Trump’s other embattled pick,Stephen Moore. The Federal Reserve Board, for which Cain is being considered, is the main governing body charged with overseeing the Federal Reserve Banks and helping to implement the monetary policy of the U.S. Of the more than 130 individuals who have served as Presidents of the twelve reserve banks, only three have been non-white. Regular Beat readers will recall that 2020 hopeful Senator Kamala Harris (D-CA) is trying to push the Ensuring Diverse Leadership Act through a Republican-controlled Sante. The legislation would ensure that at least one minority and one female candidate are interviewed for each vacancy for the presidency of a reserve bank at each of the twelve reserve banks in the Fed. More here.