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Herman Cain to Withdraw from Fed Board Consideration: Report

A number of GOP senators came out against Cain’s potential nomination.

Herman Cain will reportedly withdraw his name from consideration for the Federal Reserve’s Board of Governors after a number of Republican senators came out against his potential appointment, ABC News reports. Sens. Mitt Romney (R-UT), Lisa Murkowski (R-AK), Cory Gardner (R-CO), and Kevin Cramer (R-ND) have all reportedly come out against Cain, making it unlikely that he would be confirmed by the Senate. The senators have reportedly voiced concerns about Cain’s endorsement of “slashing interest rates” and the potential that his background check will “resurrect past sexual harassment and misconduct allegations[.]” President Trump announce this intention to nominate Cain for the role last week but has yet to formally do so. Cain is reportedly expected to make his withdrawal announcement in the coming days. White House economic council director Larry Kudlow reportedly said Trump was sticking to nominating Cain “at the moment,” and Trump told reporters earlier Thursday that he “liked” Cain but would have to make his withdrawal determination on his own.