Mitt Romney mocks Trump's pick of Herman Cain for the Fed with an epic barb
Herman Cain speaks at a Donald Trump rally in Atlanta (screen grab/YouTube)

On Thursday, President Donald Trump announced he plans to nominate business executive and former Tea Party activist Herman Cain to the Federal Reserve Board.

But according to Politico, one Republican senator is not impressed with the choice: Sen. Mitt Romney (R-UT), who ran against Cain for the 2012 Republican presidential nomination.

"I doubt that will be a nomination," said Romney in an interview ahead of Trump's announcement. "But if it were a nomination, you can bet the interest rates he would be pushing for ... If Herman Cain were on the Fed, you'd know the interest rate would soon be 9-9-9."

Romney's comments are a dig at Cain's 9-9-9 plan, which was a staple of his run for president. The proposal would have replaced America's entire federal tax system with a flat 9 percent tax on personal income, 9 percent tax on businesses, and 9 percent tax on retail sales. The proposal was widely mocked as ludicrous and impractical, and one commentator even speculated that he might have plagiarized the plan from SimCity.

Cain, while he does have experience at the Kansas City Federal Reserve, would be an abnormally partisan nomination for the U.S. central banking system. It follows Trump's nomination of right-wing economist and commentator Stephen Moore, which has been criticized as unqualified.