A week after Herman Cain withdrew his name from consideration from the Federal Reserve board, Stephen Moore has done the same. His announcement comes amidst a brewing storm over his past comments on gender roles.
Mr. President,
I was honored and grateful that you asked me to serve on the Federal Reserve Board. Your economic policies have been a spectacular success for American workers. Record low unemployment, 3.2% growth, seven million job openings, and a near 40% rise in the stock market with five quarters now of 3% economic growth, something your critics said could never happen. Trumponomics has been VINDICATED.
Your confidence in me makes what I am about to say much harder. I am respectfully asking that you withdraw my name from consideration. The unrelenting attacks on my character have become untenable for me and my family and 3 more months of this would be too hard on us.
As you know, for the last four years nearly since the start of your campaign for President, I have been an advocate of your economic agenda and am proud to have played a small role in helping make that happen. I will continue to be a loud economic voice advocating for your policies, which will keep us on a prosperous path of 3 to 4% growth with rising wages and low inflation for as far as the eye can see,. I am always at your disposal.
With the greatest regards and respect.
Stephen Moore
There's no ill will on the side of the president either. Trump praised Moore's character and wished him well.
Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process. Steve won the battle of ideas including Tax Cuts....
— Donald J. Trump (@realDonaldTrump) May 2, 2019
....and deregulation which have produced non-inflationary prosperity for all Americans. I’ve asked Steve to work with me toward future economic growth in our Country.
— Donald J. Trump (@realDonaldTrump) May 2, 2019
Cain withdrew his name from the nomination last week amid sexual assault allegations, which he denied.