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Trump Fed Pick Stephen Moore Calls MMT Among ‘Stupidest’ Ideas He’s Heard

Bloomberg business news
Moore Calls MMT 'One of the Stupidest' Ideas for Monetary Policy

President Donald Trump’s pick for the Federal Reserve Board of Governors said that modern monetary theory is a bad idea that won’t help support economic growth.

“This is the view that we can just print money and create growth. Of all the ideas I’ve ever heard in my lifetime, that’s one of the stupidest,” Stephen Moore said in a Bloomberg Television interview Thursday in Washington. “If you could create growth by printing money, then Zimbabwe and Argentina and Venezuela would be the richest countries in the world.”