Herman Cain Withdraws From Consideration for Fed Seat, Trump Says

Herman Cain speaks to the media outside of Trump Towers before a scheduled appearance with real estate mogul Donald Trump on Oct. 3, 2011 in New York City. Spencer Platt/Getty Images

Businessman Herman Cain has withdrawn from consideration for a seat on the Federal Reserve Board, President Donald Trump said April 22.

“My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board,” Trump said in a Twitter post. “I will respect his wishes. Herman is a great American who truly loves our Country!”