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Noah Smith

Stephen Moore Is the Wrong Person for the Fed Board

A partisan operative has no business making policy at an independent central bank.

Supply-side believer.

Supply-side believer.

Photographer: Andrew Harrer/Bloomberg

President Donald Trump has said that he plans to nominate Stephen Moore, a writer and policy analyst, for a position on the Federal Reserve Board. This isn't a good choice. Moore’s appointment demonstrates Trump’s increasing politicization of key government functions, and the valuation of loyalty and ideology over expertise and judgment.

Moore has been a think tank researcher and pundit for most of his career, having worked at the conservative Heritage Foundation and the libertarian Cato Institute. He served as chief economist for the former, though he is not a trained academic economist (he has a Master’s in economics from George Mason University). He has co-founded multiple right-leaning lobbying groups, such as the Club for Growth and the Free Enterprise Fund, as well as serving on the Wall Street Journal’s editorial board. At every stage, he has advocated tirelessly for conservative policies -- tax cuts, lower government spending and deregulation.