Trump nominates outspoken critic of Federal Reserve to its board
26 March, 2019, 05:16 | Author: Gerard Cortez
President Donald Trump on Friday said he is nominating former campaign adviser Stephen Moore to be a governor of the Federal Reserve - potentially putting a political loyalist in lockstep with Trump's view on juicing the economy into the middle of Fed deliberations heading into the 2020 election. The president later said in a tweet that Mr Moore is "a very respected economist" and said he has "no doubt he will be an outstanding choice".
The move comes just days after Moore penned an op-ed in the Wall Street Journal that echoed some of Trump's attacks on Federal Reserve Chair Jerome Powell's economic policy.
"What the law says, I believe, is (Trump) can replace the Federal Reserve Chairman for cause", Moore said during a December radio interview.
Given his sharply partisan reputation, Moore could spark opposition among Democrats in the Senate. None of the other members of the committee commented when contacted by Reuters about Moore's nomination.
The position would give Moore a vote at the policy-setting table of an institution whose interest rate hikes previous year were a frequent target of Trump's ire. In a speech in March 2019, he said the dot plot "has, on occasion, been a source of confusion", and he said he had asked an FOMC subcommittee "to explore ways in which we can more effectively communicate about the role of the rate projections".
The president has harshly criticized the Fed's rate increases last year even after the central bank this week announced that it foresees no hikes this year.
At the end of a two-day policy meeting, the Federal Open markets Committee (FOMC) said the move was meant to meet market expectations and reflected the central bank's patient approach regarding monetary policy changes.
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But he later added that "over time, obviously, we want to reduce that balance sheet and not have these massive amounts of debt on the Fed balance sheet".
Although Trump picked Powell to lead the Fed, starting in February 2018, it didnt take long for him to regret his decision. And he contended that this 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.
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Thank you to the New Zealand Government and to all the wonderful people who have shown us that we matter and are not forgotten. Ashman said there are no rules around the color or type of headscarf, nor how to wear it.
Sorry, she said what?? The headline adorning the cover, paired next to a shot of Ocasio-Cortez, dubbed her, " The Phenom ". In fact, AOC doesn't really understand why she is the subject of so much Fox News coverage in the first place.
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US production in 2019 is now expected to rise to 18.45 million barrels a day, up by 10,000 barrels from last month's forecast. It kept its forecast for growth in global oil demand this year unchanged at 1.24 million bpd.
As has previously been reported, the All-Digital Xbox One S will have the lowest MSRP of any current Xbox console. Instead of posting those images, they've recreated them in Photoshop to protect the origins of the photos.
There's probably no need to change your Facebook or Instagram passwords, as long as the passwords are unique and strong . Those are the security practices that Facebook normally takes, and which were overlooked in this case.
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