Trump's favorite: Cain does not want to be nominated for Fed-Posten

US President Donald Trump may well be on the lookout for a new US Federal Reserve (Fed) director candidate: his favored businessman and campaign fundraiser Herman Cain will not be nominated for office, Trump announced twitter.

Trump described the 73-year-old as his "friend" and a "really wonderful man". He would respect his desire not to run for office. "Herman is a great American who truly loves our country!" Trump wrote. At Cain was initially no opinion to receive.

Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board. I want to respect his wishes. Herman is a great American who truly loves our Country!

At the beginning of April, Trump had announced plans to nominate Cain for a post on the Fed's governing body. Formally, however, he had not done so yet. It was already clear that the 73-year-old Trump supporter would not have received the necessary green light from the Senate. Four Republican senators had already publicly spoken out against Cain in recent weeks. Trump's party has a slim majority of 53 out of 100 seats in the Congress Chamber. Cain could not hope for votes from the opposition Democrats.

Nomination would have been explosive

The monetary policy line Cains, former head of the pizza chain Godfather's Pizza, was not very clear. Comments in a Fox interview in February can be viewed as both a plus rate hike. In the 1990s, he worked for the Fed District of Kansas City. In 2012, the Republican withdrew his allegations of sexual harassment for the US presidency. Cain has always rejected the accusations.

The nomination of a personal friend of the president for the Fed leadership would have been explosive because Trump has injected himself with massive criticism of the interest rate policy on the central bank. Because of her tighter monetary policy, he had declared the currency guardians "crazy." Trump himself had Fed Chairman Jerome Powell heaved on the Fed chief post.

There are currently two vacant seats in the Federal Reserve. Trump had named his former campaign adviser, Stephen Moore, as his second favorite director. The economist is also controversial.

By occupying the Fed's posts, the president seems to want to see the central bank, which is independent of the government, act more in his favor.