Stephen Moore, the economic commentator whom President Donald Trump plans to nom...
- Stephen Moore, the economic commentator whom President Donald Trump plans to nominate to the Federal Reserve Board, lacks the expertise and political independence needed to help set interest rates for the U.S. economy, a top Congressional Democrat said on Tuesday.
“Mr. Moore is superbly underqualified for the role for which he has been nominated,” Representative Carolyn Maloney, vice chair of the Joint Economic Committee, wrote in a letter to Republican Senator Mike Crapo and Democratic Senator Sherrod Brown, the chair and vice chair, respectively, of the Senate banking committee.
The two-page letter, which includes a list of citations, ups the political pressure around Moore’s nomination, even before his name has been officially submitted to the Senate for approval as a nominee. Trump has repeatedly criticized the Fed for raising rates, and his pick of Moore and former Republican presidential candidate Herman Cain for two vacant seats on the Fed Board of Governors have been framed by critics as a means for him to put pressure on the central bank to ease policy and help him politically.
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