Analysis: Trump’s Stephen Moore and Herman Cain debacle
By Aaron Blake Aaron Blake Senior political reporter, writing for The Fix Email Bio Follow May 2 at 2:17 PM For the second time in 10 days, one of President Trump’s picks for the Federal Reserve has pulled out of consideration because Republican senators said they wouldn’t confirm him. First it was Herman Cain. Now it’s Stephen Moore.
Moore and Cain don’t just share messy paper trails. They also happen to have taken a position that was out of step with most top economists but very much in step with Trump: They both talked about cutting the Fed’s interest rates. Those rates have been intermittently rising, and Trump has routinely attacked Fed Chairman Jerome H. Powell for the hikes, suggesting it has hampered the progress of Trump’s economy.
Stephen Moore and Herman Cain. Robert Brusca, the chief economist at the consulting firm Fact and Opinion Economics, put it this way: “Trump’s other nominees for the Fed were eminently qualified people, but all of a sudden, Trump has gone off the rails with Stephen Moore and Herman Cain.” Moore tried to combat this perception, telling the New York Times he wouldn’t be a “sycophant” for Trump. But it lingered for some senators.
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