--- description: President Trump intends to nominate Herman Cain for a seat on the Federal Reserve Board, according to three people familiar with the matter. title: President Trump Reportedly Planning to Pick Herman Cain for Fed Board image: https://static.time.com/v3/assets/bltea6093859af6183b/blt68aea11365fc1550/698947cd929fade668bf2fdd/herman-cain-federal-reserve-board.jpg?branch=production&width=2400&quality=75&auto=webp&crop=16:9 ---  * [Politics](/section/politics/) ## Politics Update your preferences in [Account Settings](/account/preferences/) Close * [Economy](/tag/economy/) ## Economy Update your preferences in [Account Settings](/account/preferences/) Close # President Trump Reportedly Planning to Pick Herman Cain for Fed Board by [Jennifer Jacobs / Bloomberg](/author/bloomberg/) ## Jennifer Jacobs / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 4, 2019 4:39 PM CUT  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](/author/bloomberg/) ## Jennifer Jacobs / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 4, 2019 4:39 PM CUT 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"}}]}] ```