Herman Cain, the former CEO of Godfather's Pizza, made headlines in the political arena when he sought the Republican nomination for president in 2012. Now, he has decided to withdraw his name from consideration for a position on the Federal Reserve's Board of Governors. In a recent column for the Western Journal, a far-right conservative blog, Cain explained his reasons for this decision.
According to Cain, the annual salary for the Federal Reserve position, which is listed as $183,100, represented a significant pay cut compared to his current earnings. Cain elaborated in his column stating, "I would have to let go of most of my business interests. I could not serve on any boards. I could not do any paid speeches. I could not advocate on behalf of capitalism, host my radio show or make appearances on Fox Business."
While he refrained from disclosing how much he currently earns, he emphasized that it would not be comparable to the proposed income from the Federal Reserve role. He stated, "
