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Here’s the bizarre sequence of events that led Trump to offer Stephen Moore a Federal Reserve seat

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Stephen Moore

President Donald Trump reportedly offered his adviser Stephen Moore a seat on the Federal Reserve board after reading a Wall Street Journal op-ed the economist co-wrote praising his China trade policy and calling for a shrinking of the regulatory body.

Bloomberg News reported Friday that the offer came after Trump’s chief economic adviser Larry Kudlow showed the president Moore’s March 13 Journal column titled “The Fed Is a Threat to Growth.”

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According to two people familiar with the scene, Trump told Kudlow “he should have appointed Moore to be Fed chairman” and then directed the economic adviser to call the former CNN commentator to “gauge his interest in a board seat.”

This week, the report noted, the president called Moore himself.

In the op-ed, the economic adviser praised the president’s trade policy.

“The Trump administration appears to be closing in on a trade deal with China, and thus hopefully averting a damaging tariff war,” Moore wrote.

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He went on to criticize the Fed for standing in the way of American economic growth — an argument he made in a December post at the Heritage Foundation, where he’s a visiting fellow, when he called on Trump to “fire the Fed.”

“The Trump administration’s pro-growth policies have attracted investment from around the globe, triggering a spurt of demand for dollars at the same moment the Fed began sucking dollars out of the economy,” Moore wrote in the March op-ed. “When President Trump fumed that the Fed’s rate increases were smothering his growth policies, he wasn’t entirely wrong.”

Bloomberg noted that Moore also had harsh criticisms of the Fed during a December 22 appearance on a radio show hosted by a billionaire grocery store magnate.

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“I believe the people on the Federal Reserve Board should be thrown out for economic malpractice,” Moore told grocery chain billionaire John Catsimatidis.

“Janet Yellen couldn’t have been any worse than the guy he’s got in there now,” he added, referencing current Fed chair Jerome Powell and his predecessor, who was appointed by President Barack Obama. “I always thought he was a bad choice. He’s been a Fed guy for many years. Donald Trump wanted to drain the swamp. The Fed is the swamp.”

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Trump allies acquiring ‘dirt’ on journalists to take them down during the 2020 election

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President Donald Trump's war against the media has taken a next step. According to The New York Times, Trump's allies have been compiling information on reporters at CNN, The Washington Post and The New York Times to strike back because the president believes they "aggressively investigated" him.

The information was revealed Sunday using information disclosed by associates of conservative Arthur Schwartz, who is spearheading the project. Schwartz is an adviser to Donald Trump Jr. and previously worked with Steve Bannon.

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Iran Foreign Minister Zarif perfectly Twitter-trolls Trump with photos of meeting with smiling Macron at G7

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Iran Foreign Minister Javad Zarif used Donald Trump's favorite social media platform to get in a dig at the president and rub his nose in the fact that French President Emmanuel took time out from the busy G7 meeting he is hosting to sit down with him.

The White House was reportedly blindsided by Macron's invitation that had been kept a secret from Trump and now, if Trump wanted proof of the meeting, he need only hop on Twitter to see the evidence.

As Zarif wrote, "Iran's active diplomacy in pursuit of constructive engagement continues. Met @EmmanuelMacron on sidelines of #G7Biarritz after extensive talks with @JY_LeDria & Finance Min. followed by a joint briefing for UK/Germany. Road ahead is difficult. But worth trying."

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Hong Kong police fire first gunshot in protest clashes

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Hong Kong police used water cannon for the first time and at least one officer fired his sidearm during pitched battles with protesters Sunday, one of the most violent nights in three months of pro-democracy rallies that have rocked the city.

An afternoon rally in the district of Tsuen Wan spiralled into violent running confrontations between protesters and police, with officers several times caught outnumbered and isolated by masked youths wielding sticks and throwing rocks.

In one instance, several police officers drew their sidearms, an AFP reporter at the scene said.

"According to my understanding, just now a gunshot was fired by a colleague," Superintendent Leung Kwok Win told the press.

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