The Trump White House has picked made some mindboggling choices when it comes to finding talent for creating and driving its economic policy.
In addition to a guy who's known for being wrong about everything, the White House has also hired a guy who has been wrong about most stuff, and a guy who wrote a book predicting that the Dow would hit 36K in 1999. They also have that one really crazy guy who Jared literally found on Amazon.
So what do you do if you've got a bunch of economists on the political fringe, and a few beyond the fringe of respectability?
Well, this, apparently:
President Donald Trump is set to offer a position on the Federal Reserve to economic commentator and former campaign advisor Stephen Moore, CNBC has learned.
The president is waiting for Moore to get through the nominee clearance process.
Who is Steve Moore, you might ask?
Moore, 59, currently is a visiting fellow at the Heritage Foundation and former Wall Street Journal editorial board member and has been a Trump supporter since the 2016 election. In October 2018, he released the book with economist Art Laffer, “Trumponomics: Inside the America First Plan to Revive Our Economy.”
Moore also has been a frequent Fed critic, saying the central bank’s policies of keeping short-term rates near zero and buying bonds to stimulate growth were misguided and would spur inflation.
Moore is a Trumpian wet dream for The Fed. He's a far-right commentator less concerned with data than belief who has hitched his wagon fast and hard to The Donald, and he writes things like this about Jay Powell. So far, one of the most fun things about Moore's nomination is watching everyone on social media debate whether or not he's actually an economist [SPOILER: He is literally not.]
But, as we've said, Moore is a proven and devoted conservative samurai, so his loyalty will almost certainly be rewarded with a Senate confirmation vote down party lines, meaning that we'll soon be living in yet another batshit paradigm in which the Fed Chair has an outspoken, factually-challenged critic on his own board, and a new voice in American economic policy who makes us look at Peter Navarro as not exceptionally unqualified by comparison.