Loading ...“the U.S. central bank should immediately cut interest rates by half a percentage point”
Trump’s propsed FOMC Board Member made headlines yesterday when he opined about monetary policy (from Reuters):
President Donald Trump’s expected nominee for the Federal Reserve Board of Governors, Stephen Moore, said the U.S. central bank should immediately cut interest rates by half a percentage point, according to an interview with the New York Times on Tuesday.
Yup. Trump has found his man. No more feigning concern for prudent monetary policy – let’s get this party rocking!
But it’s the next part that made me laugh. Stephen Moore had the audacity to claim the following (again from Reuters):
Moore, a conservative economic commentator and a fellow at the Heritage Foundation, told the Times he is not a “sycophant for Trump” or “a dove” on monetary policy, a reference to Fed officials who favor an easier policy that supports economic growth.
Geez… I am not sure about Moore’s claim, but when I googled “sycophant” I was surprised to find some contradictory evidence: