Stephen Moore Withdraws From Fed Consideration

Stephen Moore Withdraws From Fed Consideration

In comments to the Washington Post, Trump donors said Mr Moore was open about his loyalty to Mr Trump throughout his would-be nomination process, going so far as to present powerpoint presentations to donors detailing his support for the president.

Moore also added that when the president called him last month, he expected to have a "vigorous debate" on economic policy. "Steve won the battle of ideas including Tax Cuts. and deregulation which have produced non-inflationary prosperity for all Americans".

"I've asked Steve to work with me toward future economic growth in our Country", Trump said in a tweet.

"We just decided it was much better for Donald Trump to select someone who doesn't have a 30-year paper trail", Moore said.

"I am always at your disposal", he concluded.

Watch above, via Fox Business.

Numerous GOP senators have also said they object to Moore's disparaging past writings about women or have sidestepped questions about whether they would back him for the Fed.

Stephen Moore has withdrawn from consideration to serve on the Federal Reserve's board of governors.

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Senator Joni Ernst of Iowa hardened her opposition after the emergence of articles and speeches by Moore over the years, some of which have been criticized as sexist or trafficking in racism. Moore has said he regretted the writings and said they were meant as humor columns.

He also said if it fell through, he would understand. Charles Schumer, D-N.Y., the top Senate Democrat, said in a statement. He said recently that the biggest problem for the economy has been declining male earnings, then went on to say that female earnings have risen but that male earnings are falling. Previously, Moore called on the Fed to raise interest rates. Any, like Moore, who have reversed themselves to embrace the dovish approach favored by Trump might have a hard time winning Senate support.

With Moore and Cain out of the running for Fed seats, Trump has two openings to fill. Trump's other choice, businessman Herman Cain, withdrew from consideration in mid-April after lawmakers expressed discomfort with the sexual-harassment allegations that short-circuited Cain's presidential bid in 2012.

Beckworth has declined to comment. Moore said in a radio interview on April 1 that he and his ex-wife are on good terms now.

Moore has been an unabashed Trump loyalist, and some economists argued that he lacked the qualifications for the Fed position. As recently as September 2015 he called for eliminating the US central bank and removing then-Fed Chair Janet Yellen, who he said was keeping money too easy.

Trump tweeted the news of Moore's withdrawal even while describing him as "a great pro-growth economist and a truly fine person". He contended that putting Moore on the Fed board would have imperiled those standards.

"Steve Moore, a great pro-growth economist and a truly fine person, has chose to withdraw from the Fed process", Trump said on Twitter, moments after Moore told Bloomberg and The Wall Street Journal that he would stay in the race.