Posted on 03/25/2019 8:24:45 PM PDT by E. Pluribus Unum
President Trump has made a lot of ill-advised nominations. But perhaps no single choice could inflict more long-term damage than the one he announced Friday: Stephen Moore, Trump’s pick to join the Federal Reserve Board.
Moore’s many economic claims over the years have revealed him to be, shall we say, easily confused.
A decade ago, as the Fed was battling deflation (that is, price declines ) during the financial crisis, Moore preposterously fearmongered that hyperinflation (that is, out-of-control price increases ) was nigh: Americans could soon be carting “wheelbarrows full” of cash a la Weimar Germany. Moore has also repeatedly predicted that tax cuts would pay for themselves — both at the federal level, and in Kansas — despite all evidence to the contrary.
It’s not only his forecasts for the future that have proved chronically incorrect; it’s his characterizations of past and present, too.
A newspaper banned him from its pages because of his struggles in getting basic statistics right. During the dozens of times I’ve debated him on TV, he has persistently misstated easily Google-able facts. These include whether the country is experiencing deflation, whether Canada’s tariffs are “twice as high as” ours, and whether the Fed predicted that Trump would crash the stock market. (Nope, nope, and huh ? )
Now, somehow, Moore has been nominated to the Fed. To understand why this is concerning, consider a brief primer of what the Fed does.
Congress gave the Fed, the world’s most powerful central bank, a dual mandate: maximum employment and stable prices. For decades — beginning with former chairman Paul Volcker — it has also worked to achieve a reputation for political independence, which is crucial to its ability to achieve these dualobjectives.
(Excerpt) Read more at washingtonpost.com ...
Never a massive fan, but now I am!
Amazon Compost scared article: check. “Dont vote for this guy” article: Double-check. Kissing ass to Trump from a leftard MSM writer to ‘do the right thing” crap: Check 3.
Ok , Stephen Moore’s our man.
Long term damage?
Yeah ... to The Swamp!
I don’t know much about him but he has all the right enemies. Good luck, Stephen!
Moore is an excellent pick.
Problem is you can’t trust the Amazon Post.
By and by, there won’t be a whole lot of need for a Federal Reserve Board anyway.
Why should anyone care about the opinion of this writer who appears to have no record of accomplishment, just a long history of spewing her opinion? What’s her expertise based in?
Female privilege.
Sure I’ll believe a bunch of lying liars.
Glad we were able to distract a Postie blogging girl from “entertaining” the local high school football teams with this Stephen Moore kerfluffle - at least for a while...
Damage? As in a couple billion dollars improvements?
I will just second your comment.
Moore is a Trump man.
She loses right there. You never have to pay for tax cuts. It's incongruent to say 'pay for tax cuts'. Only liberals think like that, that you have to payback the govt for tax cuts.
Liberals minds are crippled by state-ism.
Where will banks go for a lender of last resort?
‘Think I’ll take a look at his book, “Fueling Freedom (2016)
The headline is good enough for me. I like this guy already.
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