WASHINGTON — President Donald Trump said Monday that Herman Cain has withdrawn from consideration for a seat on the Federal Reserve’s board amid a focus on past scandals and doubts about his qualifications for the role.

Cain is a former CEO of Godfather’s Pizza who dropped out of the 2012 presidential race as he faced allegations of sexual harassment and infidelity. The issues resurfaced after Trump said he intended to nominate Cain to the central bank’s board of governors.

Trump tweeted Monday that “My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board. I will respect his wishes.”

Cain’s nomination was all but doomed earlier this month when four Republican senators said they wouldn’t vote to confirm him if he were nominated. The GOP holds just a three-seat majority in the Senate. Senate Majority Leader Mitch McConnell refused to say 10 days ago whether the chamber would confirm Cain.

“There were so many things about (Cain) that were red flags,” including his lack of understanding of monetary policy, said Diane Swonk, chief economist at Grant Thornton and longtime Fed watcher. Cain has served on the board of the Federal Reserve Bank of Kansas City but didn’t participate in any interest rate decisions in that position.

Trump is also considering conservative ally Stephen Moore for a separate vacancy on the Fed’s seven-member board.

Senate Democratic Leader Chuck Schumer warned the Republicans against using Cain’s withdrawal as a “pathway” to approval of Moore, calling him “equally unqualified and perhaps more political.”

Trump’s picks of Cain and Moore raised concerns about the Fed’s ability to remain politically independent. Last fall, Cain co-founded a pro-Trump super political action committee, America Fighting Back PAC.