Trump to Nominate Stephen Moore for Fed Board

Federal Reserve Interest Rates

President Trump says he will nominate Stephen Moore to serve on the Federal Reserve Board - and it may be because of a Wall Street Journal op-ed. The president later said in a tweet that Moore is "a very respected Economist" and said he has "no doubt he will be an outstanding choice".

The president said in an interview Thursday night that the Fed's decision is not up to him, but he still contended that the Fed was wrong to raise interest rates a year ago.

"I believe the people on the Federal Reserve Board should be thrown out for economic malpractice", Moore said December 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.

The Federal Reserve announced after its March meeting that it will leave short-term interest rates unchanged for 2019 and will not raise rates for the remainder of the year.

Moore if confirmed would fill one of two vacancies on the seven-member board.

Amazon is testing video adverts for its Android and iOS apps
Amazon is already faring better on the digital advertising space by increasing its market share by 2% in one year. Earlier, only the product descriptions and consumer reviews were available for the users to make up their mind.

Trump was so incensed by the Fed's policies he is said to have sought advice late past year on whether he could fire its chairman, Jerome Powell.

He argued that Mr Trump's policies had created a global demand for dollars by increasing the attractiveness of the U.S. as a place for investment and said the Fed had worked at cross purposes to that by tightening credit and withdrawing money from the economy.

In the Bloomberg Television interview, Moore said he was "not sure" about whether the Fed should cut rates and also said he needed to "reserve judgement" about the size of the Fed's bond holdings "because I don't have the full knowledge that I need".

Scott Sumner, the chair of monetary policy at George Mason University's Mercatus Center, said his concern is that Moore accused the Fed of providing too much aid after the 2008 financial crisis, when the economy depended on help from the central bank.

" Janet Yellen couldn't have been any worse than the guy he's got in there now", Moore said of Powell and his predecessor. Moore co-authored an op-ed in which he wrote that "the Fed should stabilize the value of the dollar by adopting the commodity-price rule used successfully by former Fed chief Paul Volcker", explaining that "to break the crippling inflation of the 1970s, Mr. Volcker linked Fed monetary policy to real-time changes in commodity prices".

Robert Mueller submits Russian Federation report
In a joint statement, they said Barr must not give Trump, his lawyers or staff any "sneak preview" of the findings or evidence. Mueller be allowed to do his job without interference, and that has been accomplished", he added .

As a TV commentator, Moore has been an anti-tax conservative and fiscal hawk. And he contended that the approach, if adopted, would help accelerate economic growth above 3 percent, compared with the longer-run average of 1.9 percent that Fed officials have forecast.

Moore had earlier predicted in 2010 that the Fed's low rates would ignite inflation, and he advised investors to buy gold.

By contrast, the central bank raised rates just twice during the entire eight years Barack Obama was in office - and one of those rate hikes was approved in December of 2016, the month after Trump was elected.

"QE2 is just a fancy word for saying that what we're doing right now is we're monetising our debt, " he told a November 2011 conference in Palm Beach, Florida, according to a transcript of the event. He also praised Moore on Twitter. Federal debt has jumped since Trump's overhaul to the tax code, surging almost 77 percent through the first four months of fiscal 2019 compared with the previous year.

Ichiro Calls It A Career
Hiding the ball in his delivery, he often kept Oakland batters off-balance while striking out three and walking one. Seattle opens the regular season at home March 28 against the World Series champion Boston Red Sox .

Related News:



Most liked

Zion Williamson is definitely going to dunk on Tacko Fall now
The Blue Devils advanced to the Sweet 16 on Friday in Washington D.C., and will play the victor of the Virginia Tech vs. The UCF Knights managed to defeat the VCU Rams in the opening round of the NCAA Tournament .

Calaveras Public Health Investigates Confirmed Measles Case
The virus can live for up to two hours in the air where the infected person was present, according to the health department. If you are unsure whether you have been vaccinated or have had measles in the past, contact your healthcare provider.

Christchurch to Hold Remembrance Service for Shooting Victims on 29 March - PM
"In the week since the unprecedented terror attack there has been an outpouring of grief and love in our country", Ardern said . Many people responded to the tweet , with one person saying: "Our PM reflects the hearts of the New Zealand people".

Defending champ Casey grabs share of PGA lead as Donald lurks
Donald had five birdies and four bogeys in his one-under 70, surrendering a one-shot lead with two bogeys in his last four holes. But even the easier morning conditions didn't help Masters champion Patrick Reed, who had a 77, or Jason Day at 74.

Trump drops new N.Korea sanctions because he 'likes' Kim
Also, New Zealand held a day of remembrance for the 50 people who were shot to death at two mosques last Friday. Chris Van Hollen, D-Md., tweeted that Trump "is being played by Kim Jong Un ".

United States says Maduro using banks as slush funds
Trump has reiterated that "all options" - implicitly including military action - are on the table for dealing with Venezuela . Rodriguez alleged funds in accounts in Bank of America and Banesco Panama were being used in the plot.

PM May requests 3 months Brexit delay, European Union pushes back
However the European Commission opposes extending British membership of the EU to June 30, according to an EU document seen by Reuters.

Release Date Leaked For Microsoft’s Discless Xbox One S
Xbox has announced [ email protected ] Game Pass, a stream that aims to highlight indie games that are headed to Xbox Game Pass . No pricing has been revealed, but Windows Central reports that it will have the lowest RRP of all Xbox One consoles.

Oculus announces Rift S VR for Spring 2019
The new design is among the most comfortable I've felt, with better weight distribution, light blocking, and ease of use. There are five sensors within the headset to make this possible, and Oculus Touch controllers work alongside the Rift S.

MSU Lady Bears Basketball Team To Play DePaul Saturday In NCAA Tournament
Baylor has big guards who are able to dominate the glass, while Syracuse has a big size advantage in the paint. Tyus Battle , Howard's backcourt mate, would seem a likely candidate, though Boeheim would not tip his hand.

Jared Kushner accused of using WhatsApp and personal email for state business
Aside from the Kushners, the House committee said other officials such as the former deputy national security adviser K.T. Robert Giuffra, a lawyer for McFarland, declined comment.

Robert Kraft, other defendants, move to block release of day spa videos
Weiss, the attorney for one of the 25 men charged in the case by the Palm Beach County state attorney's office. Court documents show the joint motion to suppress the videos was filed Wednesday by Jason S.

Joe Biden Leads the Field in a New York State Poll
Sanders' support has increased 9 points from the Emerson February national poll , taken before he announced his campaign for President", states the survey .

Targeting the Electoral College
The former Texas congressman told reporters in New Hampshire on Wednesday that the total came from 128,000 separate donors. Another Democratic proposal is to lower the voting age to 16 to allow younger teenagers to help pick the next president.

Titans reportedly interested in former Packers WR Jordy Nelson — NFL free agency
Now that the first wave of free agency is in the books, teams can take time for longer looks at the remaining players available. With NFL free agency now in its second week, wide receiver remains one of the biggest needs on the New England Patriots .