President Trump‘s second potential nominee to the Federal Reserve, conservative Stephen Moore, received another blow Tuesday when Republican Sen. Joni Ernst of Iowa said she would likely vote against him if nominated.
Ms. Ernst said she was “very unlikely” to vote for Mr. Moore, becoming the first senator to declare as a likely “no” vote. Three other female GOP senators have raised doubts about the potential nomination, with Republicans holding a 52-48 majority in the Senate.
Mr. Moore, a commentator, has come under fire for past writings about women, including being critical of female athletes and referees. He has apologized for his remarks.
White House counselor Kellyanne Conway said Tuesday morning that the president “stands behind” Mr. Moore, noting that he helped to advise the president on his tax-cut plan that has benefited female workers.
“For now, I guess, he feels comfortable that he’d like to be considered,” Mrs. Conway said of Mr. Moore. “Stephen Moore has been right about the economy. I know him personally. I know he’s a good person. I’m a strong, successful woman who’s worked with Stephen Moore for decades. The economic policies he puts forward help women.”
“China is adding great stimulus to its economy while at the same time keeping interest rates low,” the president tweeted. “Our Federal Reserve has incessantly lifted interest rates, even though inflation is very low, and instituted a very big dose of quantitative tightening. We have the potential to go up like a rocket if we did some lowering of rates, like one point, and some quantitative easing.”
He added, “Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small.”
The president was critical of the Federal Reserve for raising rates four times last year, calling them “crazy” in October after its fourth hike, and saying this month the Fed engaged in “unnecessary and destructive actions.”
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