April 4 (Reuters) - U.S. President Donald Trump plans to nominate former pizza chain executive and Republican presidential candidate Herman Cain for a seat on the Federal Reserve Board, Bloomberg News reported on Thursday. Axios also earlier reported Trump has decided to choose Cain to fill one of two vacancies on the seven-member Fed board. The White House did not immediately respond to a request for comment on the reports. Board members have a vote on setting interest rates every time U.S. central bankers meet, making them among America’s most powerful officials for economic policy. Trump is also considering nominating conservative commentator and longtime ally Stephen Moore to the Fed.

Source: Huffington Post April 04, 2019 16:41 UTC