Trump says Stephen Moore has pulled out of the running for Fed contention

Wikimedia Commons

President Donald Trump said Thursday Stephen Moore would no longer be considered for a spot on the Federal Reserve Board of Governors.

“Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process,” Trump tweeted on Thursday afternoon.

“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.”

Lawmakers expressed increasing concern about Moore this week after his past comments about women resurfaced. He has suggested in writings that women should not make as much money as men and that only attractive women should be able to work as referees or sports reporters.

A political ally to Trump and an outspoken critic of the Federal Reserve, Moore faced scrutiny from the beginning. He has written book praising Trump’s fiscal policies and once said policymakers at the Federal Reserve should be fired.

His policy views have also been called into question. Moore has pushed officials to target commodity prices when setting interest rates, an approach rejected by economists from across the political spectrum.

This story is developing. Check back for updates.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.