Today, President Donald Trump announced in a tweet that Stephen Moore has withdrawn his name from consideration to serve on the Federal Reserve Board.
Congresswoman Jennifer Wexton (VA-10), who serves on the House Financial Services Committee, has been an early and outspoken critic of Moore’s nomination‒first drawing attention to some of Moore’s long held and outlandish economic views at a House Financial Services Committee hearing with the seven CEOs of the largest financial institutions in America, where all seven CEOs uniformly rejected Moore’s policy positions.
Following Congresswoman Wexton’s line of questioning, CNN’s Erin Burnett caught Stephen Moore in a lie when Moore claimed that he never supported a return to the gold standard.
As Moore faced mounting criticism for his widely denounced views on monetary policy, he also came under fire for a long history of disturbing remarks and writings, especially regarding women.
Moore’s history of inappropriate statements in combination with his widely criticized economic ideas culminated in a lack of support by even some Senate Republicans.
"Stephen Moore is supremely unqualified to serve on the Fed, and I’ve said so from the very beginning,” said Congresswoman Jennifer Wexton. “I'm glad that he is no longer being considered, but President Trump should never have considered this overly partisan ideologue for the post to begin with. I hope that future candidates for the Board of Governors have the qualifications and temperament to fulfill the mission of the Federal Reserve System.”
BACKGROUND: Congresswoman Wexton, an early and frequent critic of Stephen Moore:
‘By the way, I don’t think I’ve ever really said anything much about the gold. I’m not in favor of gold standard, I am in favor of using commodities as forward looking indicator where prices are,’ Moore replied.”
‘Does Stephen Moore think women can also sit on the @federalreserve, work as economists, or be CEOs?’ asked Congresswoman Jennifer Wexton, a Democrat from Virginia. ‘Gender inequality in the financial industry is a real problem. Misogynists like Stephen Moore on the Fed will only make it worse.’”