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Herman Cain No Longer In Running for Federal Reserve Spot

The gold standard advocate withdrew himself from the running, according to a tweet by the President.

Herman Cain, successful pizza chain entrepreneur and former presidential candidate, made headlines last week when he was reportedly linked to a possible spot on the board of The Federal Reserve.

The controversial institution has reemerged in political discussions in recent years, thanks in many ways to Ron Paul – a former presidential candidate that called the organization’s relationship with the United States in question during his campaign.  Paul was a spark of libertarian light back in 2012, rightfully asking exactly who is responsible for a bulk of the fiscal fluctuations we experience.

In what looked like an effort by President Trump to inject some more reasonable ideologies into The Fed itself, the aforementioned Herman Cain looked poised to find himself sitting on the reserve’s board.

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That is no longer the case.

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“My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board. I will respect his wishes. Herman is a great American who truly loves our Country!” Trump said.

Cain, the former CEO of Godfather’s Pizza and 2012 Republican presidential candidate, said just days ago on Fox Business Network that he had no plans to withdraw from consideration. He said that several GOP senators expressing reservations about him “have never met me … and I doubt if they know anything about my background.”

Trump, a succesful businessman with a firm grasp on the economy, has repeatedly criticized current Fed head Jerome Powell, and the appointment of Cain was, perhaps, a step in the direction of reorganizing the bank’s priorities.

 

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