Opposing view: Moore will help keep the economy humming
The liberal outrage triggered by Stephen Moore can only mean one thing: He is exactly the type of “growth hawk” we need at the Federal Reserve.
Moore — whom President Donald Trump intends to nominate to the Federal Reserve Board — is an ideal choice to help secure our recent economic gains with monetary policies that complement the president’s fiscal policy.
“I consider myself a growth hawk,” Moore said recently. “I ... will try to make sure that America grows as fast as it can, and that wages rise and that we have a long period of prosperity through a sound monetary policy.”
Moore has been critical of the Fed, but many of his tough observations about the Fed have also been highly accurate. The Wall Street Journal, for instance, stressed that he “has certainly been proven right in his warning last autumn that the Fed was tightening policy too fast.”
Predictably, Moore has come under attack from liberals, who are trying to derail his nomination by going after a mistake Moore made on his taxes resulting in an IRS tax lien of $75,000.
Conveniently, Moore’s critics forgot to mention that this is part of a larger dispute with the IRS. According to Moore, for instance, the government also owes him $50,000 in overpaid taxes, and the IRS also failed to update his mailing address.
This relatively unremarkable dispute with the IRS doesn’t disqualify Moore from the Fed, and his critics know it. They also know that Moore will push for a monetary policy approach that will keep America’s economy humming through the 2020 election and beyond. For Democrats, that’s the threat.
Moore is exactly the type of “growth hawk” that President Trump needs to reform the Fed and secure the gains we’ve made over the past two years. No wonder Democrats are desperate to tarnish his reputation.