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Hermain Cain says he won't bow out of consideration for Fed Reserve Board
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Hermain Cain says he won't bow out of consideration for Fed Reserve Board

The former Chair of the Kansas City Federal Reserve dismissed rumors that he would withdraw

Retired Godfather's Pizza CEO and former Kansas City Federal Reserve Chairman Herman Cain says he's not backing away from being vetted for consideration to serve on the Federal Reserve's Board of Governors, swatting away rumors that he would bow out due to insufficient GOP support.

What are the details?

Cain sat down with the Wall Street Journal on Wednesday, telling the outlet he is "very committed" to seeing the process through, as the White House mulls his formal nomination as one of President Donald Trump's picks.

Last week, ABC News reported Cain was "expected to withdraw," citing "multiple sources familiar with the matter." The outlet noted that a handful of Republican senators have publicly opposed Cain's appointment, meaning he likely won't have the votes for confirmation given the assumption he won't have the support of any Democrats.

According to multiple outlets, White House chief economic adviser Larry Kudlow gave Cain "an out" this week, when he said, "I think at the end of the day it would probably be up to Herman Cain if he wants to stay in [the vetting] process or not."

Cain agreed with that assessment, telling the Journal, "What Kudlow was doing was giving me an out, and I appreciate that, but I don't want an out. I don't want an out."

He went on to say he didn't think that meant the administration was wavering in its support of him as a candidate. "You know that the president is a fighter, and Kudlow is a fighter," Cain added. "They might be getting a lot of blowback from some folks, I don't know. But I don't think they're getting uncomfortable with it."

Anything else?

Mr. Cain ran for the Republican Party's presidential nomination in 2012, before dropping out amid sexual assault allegations.

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