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Cain says he won't back down, wants to be nominated to Fed

Cain says he won't back down, wants to be nominated to Fed
© Greg Nash

Herman CainHerman Cain'Trumpification' of the GOP will persist 'SNL' host Dave Chappelle urges Biden voters to be 'humble' winners 18 Trump rallies have led to 30,000 COVID-19 cases: Stanford University study MORE, who President TrumpDonald TrumpMore than two-thirds of Americans approve of Biden's coronavirus response: poll Sarah Huckabee Sanders to run for governor Mexico's president tests positive for COVID-19 MORE floated for a position on the Federal Reserve Board, said Wednesday he will continue to seek a spot at the central bank despite almost insurmountable Republican opposition.

Cain told The Wall Street Journal in a Wednesday interview that he will not withdraw from consideration for a nomination to the Fed board after GOP senators all but doomed his appointment.

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The 2012 GOP presidential candidate told the Journal he’s "very committed” to seeing the vetting process through after Trump announced earlier this month he intended to nominate Cain to the Fed if he passed a background check.

“The president asked me one simple question,” Cain told the Journal. “He said, ’Would you consider doing this if you make it through the process?’ I said 'yes.' Didn’t hesitate.”

Four of the Senate’s 53 Republicans announced last week that they would refuse to vote for Cain, a 2012 GOP presidential candidate, if he was formally nominated by Trump.

GOP Sens. Lisa MurkowskiLisa Ann MurkowskiSenators spar over validity of Trump impeachment trial Trump impeachment trial to begin week of Feb. 8 Murkowski didn't vote for Trump, won't join Democrats MORE (Alaska), Cory GardnerCory GardnerOvernight Defense: Joint Chiefs denounce Capitol attack | Contractors halt donations after siege | 'QAnon Shaman' at Capitol is Navy vet Lobbying world Senate swears-in six new lawmakers as 117th Congress convenes MORE (Colo.), Mitt RomneyWillard (Mitt) Mitt RomneyBiden officials hold call with bipartisan group of senators on coronavirus relief plan Five examples of media's sycophancy for Biden on inauguration week Romney: Total figure for Biden coronavirus stimulus is 'pretty shocking' MORE (Utah) and Kevin CramerKevin John CramerGroup of GOP senators seeks to block Biden moves on Paris, Keystone McConnell faces conservative backlash over Trump criticism McConnell keeps GOP guessing on Trump impeachment MORE (N.D.) said they would not vote for Cain, and several others have expressed qualms with Cain's background and character.

Cain was accused by four women of sexual harassment while he led the National Restaurant Association, a Washington, D.C., trade group, between 1996 and 1998. He has denied all of the allegations but reached financial settlements with two of his accusers.

Republican senators also voiced concerns about Cain's close ties to Trump, fierce partisanship and leadership of a super PAC supporting the president's reelection.

If nominated, Cain would need the unlikely support of at least one Senate Democrat to be confirmed if all other Republicans voted for his nomination. Sen. Joe ManchinJoseph (Joe) ManchinBiden officials hold call with bipartisan group of senators on coronavirus relief plan Harry Reid 'not particularly optimistic' Biden will push to eliminate filibuster Durbin: Senate should consider changes to filibuster MORE (D-W.Va.), who has bucked his party to support other Trump appointees, also said last week he wouldn't vote for Cain.

Larry KudlowLarry KudlowMORE, director of the White House National Economic Council, said Tuesday that the administration had been interviewing potential candidates to replace Cain and Stephen MooreStephen MooreEconomist Moore says he's not sure US needs 'massive stimulus bill' Sunday shows - Trump's COVID-19 relief bill opposition dominates Moore calls for tax cuts in latest COVID-19 relief bill MORE, who Trump also floated for a Fed seat.

“I think at the end of the day, it will probably be up to Herman Cain to stay in that process or not,” Kudlow said. “As far as we’re concerned, he’s still in that process and it’s proceeding in an orderly way."

Cain told the Journal that “What Kudlow was doing was giving me an out, and I appreciate that, but I don’t want an out.”

“You know that the president is a fighter, and Kudlow is a fighter. 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,” Cain added.

Updated at 4:12 p.m.