Article snippet: Businessman and former presidential candidate Herman Cain is expected to withdraw from consideration for a seat on the Federal Reserve Board, ABC News reported Thursday, citing an administration official and source familiar with the matter. MORE last week announced he would nominate Cain to the board. Cain's nomination faced strong criticism and four Republican senators said they would vote against confirming him, likely sinking his nomination. The Hill has reached out to the White House for comment on Cain's reported withdrawal plans. Cain ran for the Republican presidential nomination in 2012, but dropped out of the race after four women accused him of sexual harassment. Cain has denied the allegations. The accusations have made him a controversial pick for the board. Republicans have also demonstrated concern about Cain's support for cutting interest rates. The Hill 1625 K Street, NW Suite 900 Washington DC 20006 | 202-628-8500 tel | 202-628-8503 fax The contents of this site are ©2019 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc. Link to the full article to read more