Businessman and former presidential candidate Herman Cain is expected to withdraw from consideration for a seat on the Federal Reserve Board, ABC News reported Thursday, citing an administration official and source familiar with the matter.
President Trump last week announced he would nominate Cain to the board. His nomination faced strong criticism and four Republican senators said they would vote against confirming him, likely sinking his nomination.
Cain ran for the Republican presidential nomination in 2012, but dropped out of the race after harassment allegations. The accusations have made him a controversial pick for the board.
Read more at The Hill.