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Criticism mounts of Trump pick for U.S. Federal Reserve


Added 04-13-19 03:03:02am EST - “Potential Federal Reserve board nominee Stephen Moore, picked by U.S. President ...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Criticism mounts of Trump pick for U.S. Federal Reserve”. Below is an excerpt from the article.

WASHINGTON (Reuters) - Potential Federal Reserve board nominee Stephen Moore, picked by U.S. President Donald Trump, faced new criticism on Friday, with Democratic Senator Elizabeth Warren accusing him of lacking competencies to serve in that role.

Economists and other critics have expressed concerns about Moore, a conservative economic commentator, and another Trump loyalist nomination to the Fed’s Board of Governors, serving on the traditionally nonpartisan central bank.

Warren, a Democrat who is running to challenge Trump in the 2020 election, said Moore had “a long history of making wildly inaccurate claims about economic policy that appear to serve political ends.”

“Americans should be able to trust that policymakers ... have some command over basic mathematical and economic concepts and allegiance to facts,” she wrote in a letter to Moore.

Warren cited examples where Moore’s economic commentary appeared in conflict with other research or Moore’s earlier stances. She included a multiple-choice questionnaire asking if he still held prior views, including describing himself as “not an expert on monetary policy.”

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