Trump Federal Reserve Picks: And Then There Was One

Trump Federal Reserve Picks: And Then There Was One

Stephen Moore, political pundit, Alt-Right fanboygold standard loon, and doctrinaire supply-side dolt, wrote an ill-informed Wall Street Journal op-ed blasting the Federal Reserve. The Journal booted him for being a political hack, but Donald Trump nominated him for the Federal Reserve Board. Mr. Moore now says that if he becomes a liability he will withdraw his name from consideration, as did Herman Cain, the President’s other improbable nominee.

Mr. Moore’s recently unearthed sexist comments may prove a liability, but in any case it’s hard to see him as a Fed asset. He is not an actual economist. When he ran the partisan Club for Growth, the outfit incurred $350,000 in FEC penalties. A veteran of the Heritage Foundation and Cato Institute, he worked on Ronald Reagan’s Privatization Commission, and helped Dick Armey draft the so-called FairTax proposal, essentially a regressive tax on the poor. More to the point, he worked on the 2016 Trump campaign and co-authored Trumponomics, a 2018 wet dream of low tax rates for the rich.

Stephen Moore knows all about Federal taxation; he owes the IRS more than $75,000 in back taxes. He also shares the Trump Administration’s respect for law and family values; a Maryland court held him in contempt for failing to pay his ex-wife over $300,000 in alimony and child support. Of course, that might not be seen as a liability in today’s Republican Party.

More:

“Spotlight Turns to Stephen Moore After Cain Drops Bid for Fed Board Seat,” Alex Wayne, Margaret Talev, and Christopher Condon, Bloomberg

“Stephen Moore’s Columns Deriding Women Raise New Questions for Trump Fed Pick,” Jim Tankersley, New York Times

“Trump’s Fed pick Moore not planning to drop out of Fed consideration: interview,” Doina Chiacu and Yeganeh Torbati, Reuters

“White House says Stephen Moore still has Trump’s support for Fed seat,” Jeff Mason, Reuters

“Stephen Moore wants people to pay more attention to his economic policies. Challenge accepted.” Catherine Rampell, Washington Post

Related:

“Don’t Let Trump Mess With the Fed,” Steven Rattner, New York Times

“Trump wants to copy the worst thing Turkey does with its economy,” Matt O’Brien, Washington Post

Update:

“GOP support for Stephen Moore falters, leaving Trump’s Fed pick with slim chance of confirmation,” Heather Long, Washington Post

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Short Link: https://wp.me/p6sb6-t6j

Image (“Trump’s Federal Reserve Hat”) by Mike Licht. Download copies here. Creative Commons license; credit Mike Licht, NotionsCapital.com.

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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