President Trump announces he's recommended Herman Cain for a seat on the Federal Reserve Board, describing the former pizza executive as 'a terrific man, a terrific person. He's a friend of mine.'
"I've recommended Herman Cain. A terrific man, a terrific person. He's a friend of mine," Trump told reporters."I've recommended him highly for the Fed. I've told my folks that that's the man and he's doing some pre-checking now and I would imagine he'd be in great shape." Since the start of his presidency, Trump has moved to reshape the world's most powerful central bank, appointing four people to the seven-member Fed Board so far.
Cain, the former chief executive of Godfather's Pizza Inc., has some prior experience at the Fed. From 1992 to 1996, he served as a director of the Federal Reserve Bank of Kansas City. Each of the 12 regional Fed banks has a nine-person board that includes local executives.Read More"I find Herman to be an outstanding person, a truly outstanding individual. I would think he would do very well there," Trump said during an Oval Office availability with Chinese Vice Premier Liu He.
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