Economics
Trump Drops Plan to Put Herman Cain on Fed as Moore Faces New Scrutiny
- Cain, a former pizza exec, faced unlikely path to confirmation
- CNN reports Moore’s comments belittling women in early 2000s
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Donald Trump shelved his plan to put Herman Cain on the Federal Reserve amid opposition from his own party, with Democrats swiftly urging Republicans to also block the president’s pick of fellow supporter Stephen Moore for the U.S. central bank.
“My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board,” the president said in a tweet on Monday. “I will respect his wishes.”