Economics
Moore Breaks With Trump Over Call for Rate Cut Before Withdrawal
- Former Fed pick still criticizes policy as ‘too tight’
- Moore pulls out as Republican objections grew in Senate
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Stephen Moore, who had been picked by Donald Trump for a seat on the Federal Reserve Board, said he disagreed with the president’s call earlier this week for a sharp cut in interest rates, hours before pulling out of consideration for the post.
Trump, in a pair of tweets on Tuesday, called for a full percentage-point cut in interest rates and a resumption of bond buying to stimulate the economy just as the central bank was meeting to discuss monetary policy.