Stephen Moore, the economist President Trump has said he will nominate to the Federal Reserve, wants the Fed to immediately slash interest rates -- a startling step that would likely reinforce Wall Street's fears that a recession is brewing
New York Stephen Moore wants the Federal Reserve to immediately slash interest rates -- a startling step that would likely reinforce Wall Street's fears that a recession is brewing.
Moore, the economist President Donald Trump has said he will nominate to the Fed, told The New York Times on Tuesday that the US central bank should reverse course and cut interest rates by half a percentage point right away.Former Federal Reserve officials and economists told CNN Business that such a dramatic move would badly backfire by eroding confidence in the economy -- and perhaps the central bank itself.
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Trump nominates Federal Reserve critic Stephen Moore to serve on its boardConservative economist Moore served on Trump's 2016 campaign and recently penned an op-ed that concluded it was 'time for a new pilot at the Fed.'
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Likely Fed nominee Stephen Moore thinks rates should be cut by half a percentage pointThe Heritage Foundation fellow backed off on earlier criticism he had for the Fed and specifically its chairman, Jerome Powell.
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Trump picks close ally Stephen Moore for Fed seat as economy shows signs of weaknessTrump has often criticized the Federal Reserve for hurting the economy.
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Trump to nominate conservative Stephen Moore for Fed board
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