Herman Cain to withdraw nomination after GOP senators turn their backs on him: report
Herman Cain speaks to Fox News (screen grab)

On Thursday evening, ABC News reported that Herman Cain is expected to withdraw from consideration to be nominated to the Federal Reserve Board of Governors.

Cain, a former pizza executive turned Tea Party activist with a history of controversial comments and sexual harassment allegations, was widely panned as unqualified, and speculated to be an attempt by President Donald Trump to stack the central bank with loyalists who would support Trump's short-term economic agenda.

Even without having yet been formally nominated, Cain drew criticism from GOP senators. At least four so far say they will not back his nomination, including Sens. Kevin Cramer (R-ND), Cory Gardner (R-CO),  Lisa Murkowski (R-AK), and Mitt Romney (R-UT) — depriving him of the votes he needs to be approved.

Cain is expected to publicly announce his withdrawal in the coming days.