Asked if he thought he could support Cain, Shelby said he didn’t know yet but that “all nominations to the Federal Reserve are very serious nominations. You need experienced, serious people.”
Cain said in a video posted on Facebook on Friday that he faced a “cumbersome” vetting process for the Fed seat, suggesting he may be considering withdrawing. His campaign for the 2012 GOP presidential nomination ended in 2011 after he was accused of sexual harassment when he led the National Restaurant Association in the 1990s.
Neither Cain nor Trump’s selection for the Fed board’s other open seat, Heritage Foundation economist Stephen Moore, has been formally nominated. Senate Banking Committee Chairman Mike Crapo, who would preside over their nominations, declined to comment on their prospects on Tuesday.
“We’re very early in the process,” Vice President Mike Pence told CNBC in an interview aired Thursday. “He and Stephen Moore are people who really understand what the president’s philosophy is in this economy. But we’ll see how it plays out.”
Trump said he wasn’t aware of how senators feel about Cain.
“As to how he’s doing in the process, that I don’t know,” Trump said. “You go through a process. But Herman is a great guy, and I hope he does well.”
This article was provided by Bloomberg News.