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Stephen Moore, a Federal Reserve board candidate, said Sunday that he could not talk about what the Fed should do, but then suggested the central bank cut interest rates.
"I will not comment and it's just because of my nominated situation," said Moore, host of "The Cats Roundtable", John Catsimatidis, on Sept. 9 in New York. "I'll say this, that I wrote publicly before all this happened and that I think the Fed is a bit too narrow right now."
He went on to say that "there are arguments to be made for a rate cut".
President Trump told reporters late March that Moore would be one of his two council nominees. The White House has announced that an official announcement would be made at a later date. CNN, who had regularly booked Moore as the administration's voice on the Trump campaign, cut ties with him as a contributor once his name was made public.
The news sparked criticism from the left, as Moore – who had been an economic adviser to the 2016 presidential campaign – was seen as too biased and unconventional.
Like Trump, Moore had been irritated by the Federal Reserve's decision to raise interest rates in December. "I was furious – and Trump was furious too. I was just thinking that the December rate increase was inexplicable, "he told The New York Times in March.
Moore had even called on Federal Reserve Chairman Jerome Powell to resign.
He hit a more reasoned tone Sunday.
"When you get a growth-friendly policy that responds to all this global dollar demand as the Fed raises interest rates and withdraws money from the economy, it can result in a slight deflation," Moore said. said. "And I'm a little worried about it."
"When I'm there, I'll be someone who wants stable prices," he said. "What the Fed can do best is to create a situation in which a dollar today is worth what a dollar will be worth in two years … in five years and ten years", did he declare. decrease.
Moore also mentioned how Herman Cain, former CEO of Godfather and 2012 presidential candidate, would also be named to the board of the Federal Reserve. "I do not know anyone better than Herman," Moore said, calling the businessman a "superstar" politician. Like Trump, Moore had advised Cain's campaign.
Making him another controversial choice for the Fed, Cain's presidential ambitions were disappointed by allegations of sexual harassment, which he denied.
Trump's national economic director, Larry Kudlow, defended the two men on Sunday in front of CNN's "State of the Union."
"I mean, first of all, these are two very smart people," said Kudlow. Focusing on Cain, Kudlow highlighted his experience at the Kansas State Federal Reserve and called him a "very successful entrepreneur."
"He is very familiar with the operations and policy issues of the Federal Reserve," Kudlow said. "So, I think these critics are very unfair."
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