President Trump's relentless attacks on Fed Chairman Jerome Powell must have deterred many qualified candidates from seeking one of the open seats on the central bank's board of governors because, according to a Bloomberg report, the president just interviewed Herman Cain - yes, that Herman Cain - for one of the two empty seats.
SCOOP: Trump is considering Herman Cain, the former pizza company CEO who ran for president in 2012, for a seat on the Federal Reserve board, five sources told me.— Jennifer Jacobs (@JenniferJJacobs) January 31, 2019
Last week, White House advisor Larry Kudlow told reporters that Trump was looking for "highly capable" people to fill the vacancies. And presumably it wouldn't hurt if candidates would be open to supporting President Trump's low interest-rate agenda, particularly, we imagine, now that Powell has completely capitulated. Kudlow also said during that press conference that Trump wouldn't renominate economist Marvin Goodfriend.
“The White House wants highly capable, competent people who understand that you can have strong economic growth without higher inflation."
That being said, the notion that Cain could bring "the Herminator Experience" to the Eccles building isn't totally outlandish. Because between 1992 and 1996, Cain served as a director of the Federal Reserve Bank of Kansas City, as well as deputy chairman and then chairman of the bank.
Readers will remember Cain for his short-lived but heavily covered bid for the 2012 Republican nomination - a campaign that came to an early end after allegations of sexual misconduct bubbled to the surface.
Now, the former Godfather's Pizza CEO is probably best remembered for his infamously creepy smile:
But if Cain is to become a successful candidate, then we imagine he will need to promise the president that an interest rate of 9.99% isn't in the cards.