Econ Community Goes Berserk Over Trump’s ‘Terrible, Horrible’ Fed Board Pick

Stephen Moore
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As news trickled out of President Trump intention to nominate “Trumponomics” author, Heritage Foundation fellow and CNN contributor Stephen Moore to the Federal Reserve board, economists and economic journalists alike responded with bewilderment.

According to Bloomberg News, Moore’s nomination ham-handedly fell into place in true Trump fashion. Last week, White House Economic Council Director Larry Kudlow showed Trump one of Moore’s latest op-eds in the Wall Street Journal in which Moore blamed the Federal Reserve for slowing the U.S. economy and cheered Trump’s economic policies.

A week later, to the shock of economists across Twitter, here we are.

Justin Wolfers, University of Michigan economic professor and fellow at the Peterson Institute for International Economics, let Judith Viorst express his disdain for him: “It’s a terrible, horrible, no good, very bad pick.”

In a Twitter thread Wolfers pointed to several instances in which Moore has made botched assessments of the economy, including recently when he warned the U.S. economy was “in the midst of deflation (We’re not.)” he said.

Nobel Prize-winning economist Paul Krugman, who is a columnist at the New York Times, called Moore a “hack,” as did many others, and tweeted out an article by the Columbia Journalism Review about how Moore has been wrong on so many occasions that some publications now refuse to publish his work.

Bruce Bartlett, who served as a domestic policy adviser to President Ronald Reagan and in the Treasury Department under President George H. W. Bush, took a similar tone, claiming Moore knows “absolutely nothing” about the board that he’s been nominated to nor “monetary policy.”

Even Washington Post columnist Catherine Rampell, a fellow CNN economic contributor who has been cheered far and wide on Twitter for destroying Moore in CNN segments — weighed in on her colleague’s appointment.

Several journalists were also skeptical of Moore’s nomination.

Washington Post fact checker Glenn Kessler raised the irony of Moore’s credentials.

Jonathan Chait, who writes for New York magazine, didn’t mince his words on the Moore news:

Mark Dow, a global macro trader who previously worked for the U.S. Treasury Department, offered this cheeky assessment:

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