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Herman Cain's Fed Board chances are tanking

Herman Cain speaks to reporters in front of Trump Tower.
Herman Cain stands outside of Trump Tower in 2011. Photo: Spencer Platt/Getty Images

Herman Cain's candidacy for the Federal Reserve's Board of Governors is collapsing.

The bottom line: President Trump hasn't even formally nominated him, but a growing number Republicans are privately saying he’ll be confirmed over their dead bodies.

Where it stands: Enough Republican senators — four — have said publicly that they don’t plan to vote for him, virtually dooming his nomination.

  • Republican Sens. Mitt Romney, Cory Gardner, Lisa Murkowski and Kevin Cramer have all said they would oppose Cain.

What they're saying: Senate Majority Leader Mitch McConnell had some blunt advice for Trump about possible nominees during a pen-and-pad session with reporters in his office yesterday.

  • "The White House ought to take into consideration obviously two things before making nominations: One is the background check ... and second is the possibility of being confirmed," McConnell said.
  • "Several of our members had strong feelings about people who have been mentioned in newspaper articles, and I think that should be helpful to the administration."

Between the lines: Asked if he was surprised that Trump was considering Cain, McConnell said with a laugh: "Surprised? On a daily basis ... not totally unusual."

Yes, but: Despite Cain's poor prospects, Director of the U.S. National Economic Council Larry Kudlow told Fox News yesterday that the White House still wants him.

Go deeper: 4 Republican senators oppose Herman Cain Fed nomination

Federal Reserve System