President Trump recently shocked everyone when he said that he is nominating Stephen Moore, an economist who is a conservative pundit for federal reserve board’s powerful post. Stephen Moore is a renowned name in politics because he has been the campaign advisor for trump for 2016 elections and now president himself has nominated him for Feds powerful post. But since this news came many economists and critics of trump are criticizing this decision because they think Stephen doesn’t deserve to be on Federal Reserve Board. Accordingly, IRS is trying to collect more than $75000 from Stephen who allegedly hasn’t paid them for a long time.
President Trump said that he had known Stephen for a long time and he thinks he could be an excellent choice for Fed. However, general people and some economists don’t think that way that’s why they are criticizing Trump. Stephen is famous for his conservative behavior that’s why he is the favorite of Trump. Now almost the majority of economists are not supporting this decision of Trump because they think Stephen is not compatible with doing this job which requires an enormous amount of responsibility.
Stephen while giving an interview said that he has right amount of experience and knowledge to run Federal Reserve Board. Some experts think it’s his track record which is worrying them because they believe a person needs more profound understanding about foreign policies to manage Fed. The trump administration is taking some blunt decisions like putting a massive amount of taxes on steel or car producing companies which are taking country into recession. Trade war tensions between the US and China are not getting slow down which is a concerning thing. Now it will be interesting to see if Steven gets elected how he is going to manage the fed.