President Trump is nominating Herman Cain for a seat on Federal Reserve Board. Speaking at the White House today, Trump said that Cain is undergoing a background check and believes he should be in good shape. Trump called the former pizza chain executive and one-time Republican presidential candidate an outstanding person. If confirmed by the Senate, Cain would fill one of two vacancies on the seven member panel. Board members vote on setting interest rates several times a year.
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