President Donald Trump’s pick for an open Federal Reserve board seat, Stephen Moore, has sharply criticized some of the Republican senators whose votes he’ll need for confirmation. Yet that hasn’t made him many enemies.
“I’ve known him a long time and expect to support him,” said Tennessee Senator Lamar Alexander, who Moore once lambasted as a “turncoat” Republican for not backing a full repeal of Obamacare.
Republicans hold 53 seats in the Senate and have only a one-vote advantage on the Banking Committee that will review his nomination. That leaves a narrow path to confirmation for a controversial nominee, who’s drawn criticism from some economists who’ve questioned whether he’s qualified to join the Fed’s seven-seat board of governors.
Moore’s outspoken views on limited government that he’s expressed on television and radio, along with his work for the Trump campaign and as an economist at the conservative Heritage Foundation, seem all but certain to leave him without support from Senate Democrats. Whether he’s confirmed or becomes Trump’s third failed Fed nominee depends on winning support from some of the Republican moderates he’s torched in the past.
GOP Praise
Moore drew some initial praise from some GOP senators Monday, including members of the Banking Committee.
“Moore is an independent thinker, he’s strong-willed, I know him well, I’ve worked with him on a number of issues and I respect him,” said Senator Richard Shelby, an Alabama Republican and a member of the Banking panel. “I think he will be a new voice on the Fed; I believe the Fed could use a voice like that.”
Another GOP committee member, Tim Scott of South Carolina, said he wasn’t bothered by some of Moore’s partisan rhetoric and contrary positions he’s taken as a pundit and political adviser.
“I think separating the rhetoric as a commentator from an actual member of the Federal Reserve you will find him to be very astute, contemplative figure who will add value to the board,” Scott said.
‘Prompt Attention’