-- Donald Trump said he’s nominating Stephen Moore, a visiting fellow at the Heritage Foundation and a long-time supporter of the president, for a seat on the Federal Reserve Board.
Moore has emerged as an ardent critic of the Federal Reserve Board under its current chairman, Jerome Powell, who fell out of favor with Trump last year after the Fed’s rate increases. Placing him on the board may be the president’s attempt to check Powell and head off further tightening of U.S. monetary policy that Trump believes could slow economic growth before his 2020 re-election campaign.
“I believe the people on the Federal Reserve Board should be thrown out for economic malpractice,” Moore said Dec. 22 on Red Apple Group chairman and chief executive John Catsimatidis’s radio show, blaming an end-of-the-year stock market swoon on the Fed’s rate hikes. Moore is a former adviser on Trump’s campaign who helped write its economic agenda and a close Kudlow friend. He was a senior economist on the Congressional Joint Economic Committee, served on the editorial board of the Wall Street Journal and was an economic analyst for CNN.
The Mercers are ecstatically humping each other at the thought.
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