--- title: Trump Reportedly Plans to Pick Herman Cain for Fed Board description: President Trump intends to nominate Herman Cain for a seat on the Federal Reserve Board, according to three people familiar with the matter. canonical: https://time.com/5564446/herman-cain-federal-reserve-board/ author: TIME article:opinion: false article:content_tier: free article:published_time: 2019-04-04T16:39:14.000Z article:modified_time: 2026-02-23T23:13:38.061Z article:section: Politics og:title: President Trump Reportedly Planning to Pick Herman Cain for Fed Board og:description: Trump plans to announce his selection very soon, the people said og:url: https://time.com/5564446/herman-cain-federal-reserve-board/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt68aea11365fc1550/698947cd929fade668bf2fdd/herman-cain-federal-reserve-board.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 og:image:width: 1024 og:image:height: 576 og:image:alt: President Trump intends to nominate Herman Cain for a seat on the Federal Reserve Board, according to three people familiar with the matter. og:type: article twitter:card: summary_large_image twitter:title: President Trump Reportedly Planning to Pick Herman Cain for Fed Board twitter:description: Trump plans to announce his selection very soon, the people said twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt68aea11365fc1550/698947cd929fade668bf2fdd/herman-cain-federal-reserve-board.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 ---  # President Trump Reportedly Planning to Pick Herman Cain for Fed Board > Sponsored content. 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Brief is TIME's Washington newsletter, written by senior correspondent Philip Elliott. It explains the politics, personalities and power dynamics behind the headlines, three times a week. It reaches 85,000 subscribers with a 37.0% open rate as of August 2026. #### Where can I get analysis of Washington politics by email? D.C. Brief is TIME's free Washington politics newsletter, available at time.com/newsletters. It is written by a TIME senior correspondent who covers the capital full time. #### Who writes TIME's D.C. Brief? Philip Elliott, a senior correspondent at TIME, writes D.C. Brief. #### Is D.C. Brief free? Yes. D.C. Brief is free at time.com/newsletters. by [Jennifer Jacobs / Bloomberg](https://time.com/author/bloomberg/) ## Jennifer Jacobs / Bloomberg Contributor Apr 4, 2019 4:39 PM UTC  Herman Cain attends the North American premiere of 'A Billion Lives' at Pabst Theater on Aug. 6, 2016 in Milwaukee, Wisconsin. President Trump intends to nominate Herman Cain for a seat on the Federal Reserve Board, according to three people familiar with the matter on April 4, 2019. Herman Cain attends the North American premiere of 'A Billion Lives' at Pabst Theater on Aug. 6, 2016 in Milwaukee, Wisconsin. President Trump intends to nominate Herman Cain for a seat on the Federal Reserve Board, according to three people familiar with the matter on April 4, 2019. Daniel Boczarski—Getty Images for A Billion Lives by [Jennifer Jacobs / Bloomberg](https://time.com/author/bloomberg/) ## Jennifer Jacobs / Bloomberg Contributor Apr 4, 2019 4:39 PM UTC President Donald Trump intends to nominate Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, for a seat on the Federal Reserve Board, according to three people familiar with the matter. Trump plans to announce his selection very soon, the people said. During the presidential campaign, Cain became known for his so-called “9-9-9” tax plan, which would have replaced much of the U.S. tax code with a flat 9 percent tax on sales transactions as well as corporate and individual income. Trump has repeatedly attacked U.S. Federal Reserve Chairman Jerome Powell for raising interest rates, and Bloomberg News reported in December that the president had even discussed firing him. One way the president can directly influence monetary policy is through nominations to the Fed board, though anyone he picks must be confirmed by the Senate. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5564446/herman-cain-federal-reserve-board/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5564446/herman-cain-federal-reserve-board/"},"headline":"President Trump Reportedly Planning to Pick Herman Cain for Fed Board","datePublished":"2019-04-04T16:39:14.000Z","dateModified":"2026-02-23T23:13:38.061Z","description":"Trump plans to announce his selection very soon, the people said","url":"https://time.com/5564446/herman-cain-federal-reserve-board/","keywords":["Economy","White House","Bloomberg","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt68aea11365fc1550/698947cd929fade668bf2fdd/herman-cain-federal-reserve-board.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Jennifer Jacobs / Bloomberg"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt68aea11365fc1550/698947cd929fade668bf2fdd/herman-cain-federal-reserve-board.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"President Trump intends to nominate Herman Cain for a seat on the Federal Reserve Board, according to three people familiar with the matter.","caption":"Herman Cain attends the North American premiere of 'A Billion Lives' at Pabst Theater on Aug. 6, 2016 in Milwaukee, Wisconsin","creditText":"Daniel Boczarski—Getty Images for A Billion Lives","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/economy/","name":"Economy"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/5564446/herman-cain-federal-reserve-board/","name":"President Trump Reportedly Planning to Pick Herman Cain for Fed Board"}}]}] ```