Stephen Moore, the television pundit whose nomination by President Donald Trump to serve on Federal Reserve Board went down in flames earlier this year, admitted on Friday that the president’s trade war is hurting the American economy.
During an interview with Fox Business’ Neil Cavuto, Moore was asked about why the president is so insistent on yelling at Federal Reserve Chairman Jerome Powell to drastically slash interest rates.
Moore responded by saying America’s central bank needed to push more money out into the economy because the president’s own policies were harming economic growth.
And for good measure, he even admitted that these measures wouldn’t be enough to overcome the damage that Trump has been doing.
“We have to inject more dollars into the economy,” Moore said. “There is nothing the Fed can do to offset the cost of tariffs… you can’t somehow print money to offset the real damage that a trade war does. I support what Trump is doing on China, but it is hurting the economy. So I just, I want those rate cuts because I want, I want to prevent — look what happened with the price of oil, cotton, corn, timber. Those prices are falling like a rock right now. That’s deflation.”
During the Great Recession, back when former President Barack Obama was in the White House, Moore actually urged the Federal Reserve to raise rates despite high unemployment because otherwise the economy would experience hyperinflation.
The Fed didn’t raise rates, however, and hyperinflation never came.
Watch the video below.
Trump declares impeachment ‘dead’ — and demands apology — in late night Twitter outburst
President Donald Trump lashed out on his favorite social media platform late Thursday evening.
Eight minutes before midnight eastern time, Trump unloaded.
Trump wrote, "Democrats must apologize to USA: Ukrainian Foreign Minister Vadym Prystaiko said that 'United States Ambassador Gordon Sondland did NOT link financial military assistance to a request for Ukraine to open up an investigation into former V.P. Joe Biden & his son, Hunter Biden. Ambassador Sondland did not tell us, and certainly did not tell me, about a connection between the assistance and the investigation.'”
Trump did not say why he was taking the word of a foreign official over multiple sworn testimonies from members of his own administration.
Pelosi is ‘marrying up the facts and the law’: Ex-prosecutor says ‘bribery’ is a critical indictment of Trump
Speaker Nancy Pelosi was masterful in using the word "bribery" to describe President Donald Trump's actions with Ukraine that are at the heart of the impeachment inquiry, according to a former federal prosecutor.
MSNBC anchor Brian Williams interviewed former Assistant U.S. Attorney Berit Berger on Thursday evening's "The Last Word."
Please expand for us on why it is significant and why is it important to label this bribery," Williams said.
"So I think Nancy Pelosi was very specific in calling this bribery for two reasons," Berger replied.
"The first is that -- unlike quid pro quo -- ribery is something that most people understand, especially people who have children," she said, with a chuckle. "We all sort of have a general understanding of that."
Giuliani henchmen showered Republican with cash — and Trump almost made him ambassador to Ukraine: report
Yet another bombshell report has shed new light on President Donald Trump's suspicious Ukraine policies.
"At the same time that Rudy Giuliani and his now-indicted pals were pushing for President Donald Trump to remove Amb. Marie Yovanovitch from her post in Ukraine, Trump administration officials were eyeing potential contenders to take over her job. One of the people in the mix, according to three sources familiar with the discussions, was Rep. Pete Sessions, a former Congressman who called for Yovanovitch’s firing," The Daily Beast reported Thursday night. "He is also a longtime ally of the former New York Mayor, and is believed to have taken millions of dollars from Giuliani’s indicted cronies."