Trump Has A New Nominee For The Federal Reserve's Board Of Governors

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Posted: Mar 22, 2019 6:25 PM
Trump Has A New Nominee For The Federal Reserve's Board Of Governors

While the report on the Russia investigation headed by Special Counsel Robert Mueller ahs been submitted, which was a nice Friday news dump in what will soon become a political March Madness, President Trump also wants his former campaign economic adviser Stephen Moore to the board of governors of the Federal Reserve. Yes, it’s not as earth-shattering as this Mueller report, which some Democrats have admitted might be a total dud, but it’s a pretty important appointment, especially since Moore is a Fed critic. We’ll see how this goes. Mr. Moore has yet to be vetted (via WSJ):

President Trump said Friday he would nominate former campaign adviser Stephen Moore to serve on the Federal Reserve’s board of governors, which would place a fierce critic of the central bank’s leadership inside the consensus-oriented institution.

Mr. Trump made the offer to Mr. Moore earlier this past week, an administration official said, after reading an opinion article Mr. Moore and a co-author wrote criticizing Fed Chairman Jerome Powell, a regular target of Mr. Trump’s disapproval. The article was published last week in The Wall Street Journal, where Mr. Moore previously worked as an editorial-page writer.

“I have known Steve for a long time and have no doubt he will be an outstanding choice,” Mr. Trump said on Twitter Friday. In a brief telephone interview before Mr. Trump’s announcement, Mr. Moore said he would be eager to serve in the position.

Mr. Moore hasn’t gone through the customary vetting process that is typical before a presidential announcement, the official said, which means it could take weeks or months before the nomination is formally submitted for Senate confirmation.

The Fed’s seven-member board has two vacancies.

We’ll keep you updated, but for now, the Mueller report has been submitted. The text of the full report has not been released. Prepare for chaos and possible liberal tear and tantrums over the next few days.