Trump pick Stephen Moore drops out of Federal Reserve race
May 3, 2019 5:10 am
Another of Donald Trump’s picks for a seat on the Federal Reserve has dropped out of the running following fierce criticism of his views.
The US president tweeted that Stephen Moore, “a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process”.
It follows weeks of attacks on his changing opinions on monetary policy and sexist comments about women.
Another Trump pick, Herman Cain, withdrew from consideration in April.
Mr Trump had asked Mr Moore, 59, to fill one of two vacant positions on the central bank’s seven-member board, but had not formally nominated him.
But some lawmakers feared the conservative pundit, a Trump loyalist who supported tax cuts, would threaten the Fed’s independence.
There were also concerns about his views on interest-rate policy, given as recently as September 2015 he called for eliminating the US central bank.