Updated 11:32 pm ET
Herman Cain, former Republican presidential candidate and former CEO of a major pizza chain who went on to become an ardent supporter of President Donald Trump, has died of complications from the coronavirus. He was 74.
A post on Cain's Twitter account on Thursday announced the death. Cain had been ill with the virus for several weeks. It's not clear when or where he was infected, but he was hospitalized less than two weeks after attending Trump's campaign rally in Tulsa, Oklahoma, in June. Cain had been co-chair of Black Voices for Trump.
"We knew when he was first hospitalized with COVID-19 that this was going to be a rough fight," read an article posted on the Twitter account. "He had trouble breathing and was taken to the hospital by ambulance. We all prayed that the initial meds they gave him would get his breathing back to normal, but it became clear pretty quickly that he was in for a battle."
Cain, who had hoped to become the first Black to win the GOP nomination, was initially considered a long-shot candidate. His bid was propelled forward in September 2011 when he won a straw poll vote in Florida, instantly becoming an alternative candidate for Republican voters concerned that former Massachusetts Gov. Mitt Romney was not conservative enough.
But he struggled to respond to accusations that he had sexually harassed several women and — in a video that went viral on the Internet — rambled uncomfortably when asked whether he supported or opposed President Barack Obama's policies in Libya. There were also gaffes on abortion and torture that led Cain's critics to question whether he was ready for the White House.
The centerpiece of Cain's campaign was his 9-9-9 plan, which would have replaced the current tax code with a 9 percent tax on personal and corporate income and a 9 percent national sales tax. Cain said the plan's simplicity would stimulate the economy by giving investors certainty. A Baptist preacher who made money giving motivational speeches, Cain had a talent for selling his ideas to conservative audiences with a straightforward style.
"If 10 percent is good enough for God, 9 percent ought to be good enough for the federal government," he told crowds.
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach. In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. His approach is in sharp contrast to some members of the Fed’s rate-setting committee who are pushing for faster cuts.
President Donald Trump’s efforts to reshape the American media landscape have led to the suspension of late-night comedian Jimmy Kimmel.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market. The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy. The only dissenter was Stephen Miran, the recent Trump-appointee.
After a late-night vote and last-minute ruling, the Federal Reserve began a key meeting on interest rate policy Tuesday with both a new Trump administration appointee and an official the White House has targeted for removal.
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Albania's Prime Minister Edi Rama says his new Cabinet will include an artificial intelligence “minister” in charge of fighting corruption. The AI, named Diella, will oversee public funding projects and combat corruption in public tenders. Diella was launched earlier this year as a virtual assistant on the government's public service platform. Corruption has been a persistent issue in Albania since 1990. Rama's Socialist Party won a fourth consecutive term in May. It aims to deliver EU membership for Albania in five years, but the opposition Democratic Party remains skeptical.
The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates. Trump sought to fire Cook Aug. 25, but a federal judge ruled late Tuesday that the removal was illegal and reinstated her to the Fed’s board.
President Donald Trump's administration is appealing a ruling blocking him from immediately firing Federal Reserve Gov. Lisa Cook as he seeks more control over the traditionally independent board. The notice of appeal was filed Wednesday, hours after U.S. District Judge Jia Cobb handed down the ruling. The White House insists the Republican president had the right to fire Cook over mortgage fraud allegations involving properties in Michigan and Georgia from before she joined the Fed. Cook's lawsuit denies the allegations and says the firing was unlawful. The case could soon reach the Supreme Court, which has allowed Trump to fire members of other independent agencies but suggested that power has limitations at the Fed.
Chief Justice John Roberts has let President Donald Trump remove a member of the Federal Trade Commission, the latest in a string of high-profile firings allowed for now by the Supreme Court.
