Herman Cain Withdrawals From Federal Reserve Consideration
According to Reuters, Herman Cain withdraw his consideration for the Federal Reserve Board.
President Donald Trump picked Cain for the post, but Cain chose to decline citing lower pay and influence.
Although Cain said he planned to defend his nomination, but the cost of the job started to weigh on him.
Cain has been a public advocate for President Trump's thoughts on monetary policy through conservative commentary published on Twitter.
But Cain's loyalty to Trump raised concerns for some Republican senators, because the Federal Reserve operates as a nonpartisan central bank.