President Trump said Thursday that he plans to nominate former Republican presidential candidate Herman Cain to the Federal Reserve board, according to a tweet from CNBC reporter Eamon Javers. Javers writes that when he asked Trump if he’d nominate Cain, the president said that he’s already told his team that Cain’s his choice. Trump is waiting until Cain’s background check is complete to make the official announcement, Axios reported earlier in the day. Trump said he would nominate Stephen Moore, a former campaign adviser and economic commentator, to serve on the board in a tweet about two weeks ago. Nominations to the Fed’s board have to be confirmed by the Senate. In an interview with The Wall Street Journal, Moore said he had not been formally offered the position but he “would do it” if offered.