Trump may nom­i­nate Cain to Fed board

The Buffalo News - - FRONT PAGE - – Wash­ing­ton Post

WASH­ING­TON – Pres­i­dent Trump plans to nom­i­nate for­mer GOP pres­i­den­tial can­di­date Her­man Cain to the Fed­eral Re­serve’s board of gover­nors, two peo­ple fa­mil­iar with the push said, a move that would sig­nif­i­cantly es­ca­late the White House’s ef­fort to ex­ert po­lit­i­cal pres­sure on the U.S. cen­tral bank.

There are two empty seats on the Fed’s seven-mem­ber board. Trump is hop­ing to fill the other empty seat with con­ser­va­tive econ­o­mist Stephen Moore, a pick that has led to an out­cry from for­mer White House of­fi­cials in both par­ties because of Moore’s po­lit­i­cal back­ground and lack of Fed-re­lated ex­pe­ri­ence.

Trump in­ter­viewed Cain for the slot sev­eral weeks ago. He has sig­naled to aides in re­cent days that he wants to put Cain in the slot, but a fi­nal de­ci­sion has not been made because Cain’s back­ground check hasn’t been com­pleted.

Cain ran for pres­i­dent in 2012 but lost dur­ing the Repub­li­can pri­mary. A for­mer restaurant industry ex­ec­u­tive, he be­came fa­mous for a sim­pli­fied tax plan, known as Nine-Nine-Nine. His can­di­dacy un­rav­eled over com­plaints that he sex­u­ally ha­rassed mul­ti­ple women. Cain has de­nied the ac­cu­sa­tions.

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