Federal Reserve

Trump considering former presidential candidate Herman Cain for the Fed

Key Points
  • Former presidential candidate Herman Cain is under consideration for a Federal Reserve governorship.
  • The former Godfather's Pizza CEO is a former chairman of the Kansas City Fed.
Herman Cain
Justin Sullivan | Getty Images

Former presidential candidate and Godfather's Pizza CEO Herman Cain is under consideration for a Federal Reserve governorship, CNBC has confirmed.

Cain, 73, is a former chairman of the Kansas City Fed, having served at the bank from 1989-96 before leaving to pursue political activities full time.

Cain met with President Donald Trump on Wednesday at the White House, where he was escorted by National Economic Council director Larry Kudlow, CNBC's Eamon Javers confirmed.

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White House sources said Trump is meeting with multiple candidates for the two vacancies on the central bank board.

Cain ran for president in 2011 and briefly led polling thanks to his "9-9-9" plan, a reference to the respective tax rates he would have put on personal income, federal sales and corporations. He suspended his campaign late that year under allegations that he sexually harassed two women.

Cain's potential appointment was first reported by Bloomberg.

This is a breaking news story. Check back here for updates.