Trump's Fed pick humiliatingly forced to withdraw one day after White House told him he was 'full speed ahead'

Stephen Moore, the television pundit who was nominated by President Donald Trump to serve on Federal Reserve Board, was forced to withdraw his nomination just one day after he was given assurances by the White House that it was still on track.

On Thursday afternoon, Trump tweeted out that Moore had to pull himself out of the running for a vacant seat on the Federal Reserve Board.

"Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process," the president announced. "Steve won the battle of ideas including Tax Cuts 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."

However, Businessweek reporter Joshua Green brings word that Moore was humiliatingly "kneecapped" after officials assured him that the president still planned to push his nomination in the Republican-led Senate.

"Moore got totally kneecapped," Green explained. "Asked him if WH was going to yank his nomination: 'Nope, I talked to them yesterday and the message is "Full speed ahead, don't let them get you down." They said the ball's in my court.' Guess Trump took the ball away."