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Herman Cain withdraws himself from consideration for Federal Reserve Board, Trump says

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Herman Cain withdraws himself from consideration for Federal Reserve Board, Trump says
Herman Cain speaks during Faith and Freedom Coalition's Road to Majority event in Washington on June 20, 2014. -
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Molly Riley AP file
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President Donald Trump tweeted Monday that he will not nominate businessman and failed 2012 GOP presidential candidate Herman Cain to the Federal Reserve Board.

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

This is a developing story.