Cain appears to be in a hopeless position
Four US Republican Senators have said they won't support Herman Cain if he's nominated to the Federal Reserve. That makes it extremely unlikely he will be confirmed if he gets the nod from Trump. He would need the support of at least one Democrat.
He spoke to the WSJ in an interview just published and said he's "very committed" to continuing with the process.
He said the Fed needs "new voices" and it has been "too quick" to raise interest rates in the past, a view he expressed to Mr. Trump and his top economic adviser Lawrence Kudlow in a meeting in late January at the White House.
Yesterday there were reports from the White House that it was up to Cain if he wants to stay in the process. Stories saying the White House was floating other names also did the rounds.
