Trump offers Fed board seat to Stephen Moore | #116650

Trump offers Fed board seat to Stephen Moore | #116650

Trump offers Fed board seat to Stephen Moore | #116650

He also was an adviser to Trump's presidential campaign and holds a master's degree in economics from George Mason University.

Now, Bostic is emphasizing he hasn't ruled out possible rate hikes later in the year, citing inflation or labor market decline as two data points that could trigger rises.

Before joining the conservative Heritage Foundation think tank, Moore had worked as an editorial page writer at the Wall Street Journal.

The Fed expects 2.1 percent growth this year compared to the 2.3 percent that was forecast in December.

"I don't want to be a disruptor", Mr Moore said.

Last week, Moore published an opinion piece he co-authored on the WSJ, arguing that the Fed's tight-money policy is a threat to U.S. economic growth.

Under the threat of constant second-guessing by the president, and potentially soon working with a Trump cheerleader inside the building, Fed officials may find it increasingly hard to stay focused on keeping the institution at a distance from politics. "He hasn't gotten a thing right in twenty years, (check the record), and the Senate should not confirm him".

The selection of Moore marks a deviation from Trump's previous choices for the board, toward a more public figure who has long pushed conservative economic and political ideology.

Powell said in a news conference that GDP growth is slower than expected and the Fed now projects 2.1 percent growth in 2019, well below the White House estimate, and just 1.9 percent growth in 2020. "The data that we're seeing are not now sending a signal which suggests moving in either direction for me, which is really why we're being patient".

"Trust me, Steve knows absolutely nothing about the Federal Reserve or monetary policy", Bruce Bartlett, a supply-side economist who served in the Republican administrations of Ronald Reagan and George H.W. Bush, said on Twitter.

In a Bloomberg Television interview on Friday he called the Feds decision to hike rates in December a substantial mistake while saying that he did not want to be a disruptor and I want to be somebody who can really help Chairman Powell.

The comments were among the first made by a Fed policymaker since the US central bank made an unexpectedly dovish shift on Wednesday.

The group, many of them PhD economists, often reach policy decisions by consensus after debating the issues. "Fed officials have noted that they would like to return the balance sheet to primarily Treasury assets, meaning that MBS (mortgage-backed securities) will continue to roll off, with the proceeds being invested in Treasury securities", he said.

"If confirmed by the Senate, Moore would fill one-two open positions on the Fed's seven-seat board".

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