About two and a half years ago at a conservative panel on the election and the economy, Stephen Moore was asked about monetary policy. According to The Intelligencer, he responded, “Well, you know, I’m not an expert on monetary policy.” He then proved himself right when he answered a question about “cash flow velocity” by saying “We want clear rules and a stable dollar.” In October, Moore deflected a question about the Federal Reserve, similarly stating, “I’m not a monetary economist, I’m not an expert on monetary policy.”
Further, Moore has followed a pattern of demanding the Federal Reserve choke the economy if there is a Democratic president, and then goes the opposite direction if there is a Republican one. He would be a completely partisan addition to the Fed.
Now, Moore has been nominated for a position on the Federal Reserve Board by President Trump. Just months ago, Moore couldn’t even pretend to be qualified for this position, but now he could be sitting on the board of the most powerful central bank in the world.
Trump’s other nominee, Herman Cain, is also completely unqualified. He has been accused of sexual harassment many times over. Of the two, conservatives are choosing to defend Moore at the expense of Cain. Cain’s nomination “may have actually eased” Moore’s prospects because “Republicans may be hard-pressed to revolt against both of Trump’s nominees,” according to Politico. Moore may be confirmed solely on the grounds that he is the less-bad option.
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