President Trump announced in a Monday tweet that Herman Cain is withdrawing his name from consideration as a member of the Federal Reserve's Board of Governors, a week after Cain said he wouldn't withdraw.

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

The big picture: Cain's potential nomination to the Fed already faced pushback from Republican senators due to sexual assault allegations, which he has previously denied. He told the Wall Street Journal last week, "I don't quit because of negative criticism. ... I don't quit because of negative attacks. And I don't quit because several senators have expressed reservations about my qualifications."

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Parties trade election influence accusations at Big Tech hearing

Photo: Michael Reynolds/Pool/AFP via Getty Images

A Senate hearing Wednesday with Big Tech CEOs became the backdrop for Democrats and Republicans to swap accusations of inappropriate electioneering.

Why it matters: Once staid tech policy debates are quickly becoming a major focal point of American culture and political wars, as both parties fret about the impact of massive social networks being the new public square.

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Germany goes back into lockdown

Photo: Fabrizio Bensch/Pool/AFP via Getty Images

German Chancellor Angela Merkel will enact one of Europe's strictest coronavirus lockdowns since spring, closing bars and restaurants nationwide for most of November, Reuters reports.

Why it matters: Germany is the latest European country to reimpose some form of lockdown measures amid a surge in cases across the continent.

How overhyping became an election meddling tool

Illustration: Annelise Capossela/Axios

As online platforms and intelligence officials get more sophisticated about detecting and stamping out election meddling campaigns, bad actors are increasingly seeing the appeal of instead exaggerating their own interference capabilities to shake Americans' confidence in democracy.

Why it matters: It doesn't take a sophisticated operation to sow seeds of doubt in an already fractious and factionalized U.S. Russia proved that in 2016, and fresh schemes aimed at the 2020 election may already be proving it anew.