When queried about why Donald Trump did not reappoint Janet Yellen as Chairman of the Federal Reserve, the Associated Press reported the following response from Trump economic whisperer, Stephen Moore.
Stephen Moore, an economist at the Heritage Foundation who was a senior economic adviser to Trump’s campaign, said Trump wants someone who will support loosening regulations. He also said the president simply wanted his own person in place.
“The job of the Fed chair is not just to be the lead person on monetary policy. This is the chief economic voice of the nation,” said Moore. “She’s not with the program.”
Questions Arise Over Departure of First Woman To Lead Fed (AP, November 3, 2017)
Stephen Moore is the chief economist for the right-wing Heritage Foundation. He is also on the editorial board of the Wall Street Journal. And founding president of the Club for Growth.
Stephen Moore is a go-to quote for journalists seeking a right-wing perspective on economic policy debates. But he is not a real economist in any sense of the term. His only advanced degree in economics is an M.A. from George Mason University. He does no economic research. And he is mostly known professionally for the depth and scale of his ignorance on economic details. Wikipedia may have put it best when it listed his profession as “writer.”
Stephen Moore is not a serious person, but dangerous because people who should know better (journalists) pretend he is.