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Herman Cain gives up on the Fed

President Trump said yesterday that Herman Cain no longer wanted to join the Federal Reserve board. Political analysts want to see if Stephen Moore, another potential nominee whose qualifications are in question, will follow.

Mr. Cain faced accusations of sexual harassment and criticism of his qualifications for becoming a Fed governor. At least four Republican senators planned to oppose his nomination — enough to kill his chances.

The salary wasn’t enough, according to Mr. Cain, a former pizza company C.E.O. who sought the Republican presidential nomination in 2012. “Without getting too specific about how big a pay cut this would be, let’s just say I’m pretty confident that if your boss told you to take a similar pay cut, you’d tell him where to go,” he wrote on a conservative website. (Fed governors earn $183,100 a year.)

Mr. Moore is also under pressure. He, too, has a more political background than is typical at the Fed, most notably as founder of the conservative group the Club for Growth. And he’s written some derogatory things about women: He once argued that female tennis players “want equal pay for inferior work” and that women should be banned from the N.C.A.A. men’s basketball tournament unless they were attractive.