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Cain's Fed chances in peril as fourth Republican opposes Trump pick

Federal Reserve,US Senate,Politics

From the Center

President Donald Trump’s expected nomination of former pizza chain executive Herman Cain to the Federal Reserve appeared in jeopardy on Thursday after a fourth Republican senator voiced opposition, possibly denying Cain the support needed to be confirmed in the post.

“If I had to vote today, I would vote no,” Senator Kevin Cramer said in a statement.

If all of the Senate’s Democrats and the two independents aligned with them were to vote against Cain, he would fall short of the majority support he needs.

ABC News, citing sources familiar with the matter, said late on Thursday that Cain was expected to withdraw his name from consideration in the coming days. Cain declined comment on the report.

Renators Mitt Romney, Lisa Murkowski and Cory Gardner, all Republicans, have each reportedly said they would vote against Cain if he is nominated. Senate Majority Leader Mitch McConnell withheld comment on Thursday on whether he would support Cain, saying he would wait to see “who is actually nominated.”

Economists and critics have expressed concerns about loyalists of Republican Trump serving on the traditionally nonpartisan central bank.

Cain has been a public advocate of many of Trump’s policies, as has Stephen Moore, another person Trump has said he wants to nominate. Neither nomination has been formally sent to the Senate.

On Facebook earlier this week, Cain said the reason he was under attack as a nominee was because he is a conservative. Cain’s bid for president in 2012 was derailed by accusations of sexual harassment that he has repeatedly denied.

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