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Stephen Moore withdraws from Fed nomination

May 2, 2019 GMT


Stephen Moore withdrew from consideration for nomination to the Federal Reserve Board, President Trump said Thursday, ending the president’s second bid to reshape the central bank.

“Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process,” Mr. Trump tweeted.

He said Mr. Moore, a former campaign adviser to Mr. Trump, “won the battle of ideas including Tax Cuts.”

But it was increasingly clear to Mr. Moore and to the White House that he couldn’t win a confirmation battle in the Senate, where concerns were rising about some of Mr. Moore’s past writings about women. Sen. Joni Ernst, Iowa Republican, announced this week that she would likely vote against Mr. Moore if the president formally nominated him to the Fed.