The Dallas Morning News
GOP defections hurt Cain’s Fed chances
WASHINGTON — In a striking rebuke of one of President Donald Trump’s personnel choices, the swift defection of at least four Senate Republicans has all but doomed Herman Cain’s chances of winning a seat on the Federal Reserve’s board of governors.
Sens. Mitt Romney of Utah, Lisa Murkowski of Alaska, Cory Gardner of Colorado and Kevin Cramer of North Dakota all said they would oppose Cain’s appointment. Republicans control 53 of the 100 Senate seats, so losing the support of four GOP members means Cain would need help from Democrats, which appears unlikely.
Cain, like Trump, has called for slashing interest rates to make the economy grow faster. He ran for president in the 2012 GOP primary but lost momentum amid accusations of sexual harassment and misconduct. He has denied wrongdoing.