McConnell won't say if Senate would back Herman Cain for Fed

House Speaker Nancy Pelosi speaks in her office at the Capitol in Washington on Wednesday

House Speaker Nancy Pelosi speaks in her office at the Capitol in Washington on Wednesday

Republicans control 53 seats of the 100 chamber Senate, and losing the support of four members means Cain would need help from Democrats, which appears unlikely.

"Herman is a great guy, and I hope he does well", Trump said Wednesday.

Sens. Mitt Romney of Utah, Lisa Murkowski of Alaska, Cory Gardner of Colorado and Kevin Cramer of North Dakota all said they would oppose Cain's appointment to the Fed. After a successful career as a Burger King executive, Cain became the chief executive of Godfather's Pizza, a company he is credited with having revived when it was on the brink of failure. He had been a board member of the Omaha branch of the Kansas City Fed since 1989.

Pelosi said. "The Fed should be determining the rates, not any politicians, and that is a risky thing for an economy when the central bank of a country has. political influence".

The White House offered no fresh comment Thursday about Trump's intentions, referring reporters to his earlier comments about Cain.

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On Thursday evening, ABC News reported that Herman Cain is expected to withdraw from consideration to be nominated to the Federal Reserve Board of Governors.

McConnell responded: "I do think that there are two obviously critical components to making a nomination". "One is the background check that they do on all nominees before they send them up, and second is the possibility of being confirmed".

"With stiff competition, these two appointments to the Fed are the worst, ill-suited appointments that the president could come up with".

As he did earlier this week, McConnell also sidestepped a question about whether he would back Cain or Stephen Moore, a Fed critic and former Trump campaign aide, for the board.

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