Steve Moore ‘bummed out’ over Fed board withdrawal

By The FedFOXBusiness

Stephen Moore on withdrawing from Fed board process: Left couldn't beat me on my economic ideas

Economist Stephen Moore on his decision to withdraw his name from consideration for the Federal Reserve Board and his take on the outlook for Federal Reserve policy.

President Trump’s Federal Reserve board pick Stephen Moore is “bummed out” over withdrawing his bid.

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“It was very disappointing that this couldn't go forward but you know the fact is that this kind of sleaze campaign over the last three or four weeks was just really too tough for me and my family and you know we just decided it was much better for Donald Trump to select someone who doesn't have a 30-year paper trail,” he told FOX Business’ Neil Cavuto on Thursday.

“If people are looking at things that I was writing 25 years ago, and you know looking through my divorce records, and it just was it was too difficult for us, and I feel bad because I feel like I've let a lot of people down and the president, most of all," he said.

"He was incredibly nice at times and when I told him about this and he understood. But you know I'm bummed out frankly that I'm not going to be over there the fact because I think I could have some ideas that the Fed really needs.”

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Some Republican Senators had expressed doubts about voting for Moore, including West Virginia Sen. Shelley Moore Capito who expressed concerns over some of his writings about women.

“I think it was making his Hill pretty steep to climb,” she told Cavuto on Thursday.

But Moore said although he doesn’t remember the writings that took place almost 19 years ago, they were insulting to women and meant to be a joke.

Moore also added that when the president called him last month, he expected to have a “vigorous debate” on economic policy.

“That really never happened,” he said. “It became a kind of character assassination and I think, in part, because the left understood they couldn’t beat me on my economic ideas.”

Senate Minority Leader Chuck Schumer, D-N.Y., said in a statement: “First, Cain. Now, Moore. Thank goodness neither were actually nominated. The only thing less funny than some of Mr. Moore’s tasteless, offensive, sexist ‘jokes’ was the idea that President Trump would even consider him for a seat on the Federal Reserve. Now President Trump must nominate two serious candidates who will strengthen our economy.”

Moore reacted to those comments:

“Well, look, this is kind of a victory lap for the left because they took me down with a smear campaign. You know, but it is interesting  to me, go back to what I just said, they think my ideas were  so, you know, out of the box and so, you know, so wrong, why  didn't they debate me on the  economic ideas?,” he said.

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Moore’s decision comes just a week after, Trump’s other pick, Herman Cain, also withdrew from consideration.

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