Donald Trump’s pick for the Federal Reserve said he doesn’t agree with the president’s call earlier this week for the U.S. central bank to cut interest rates by a full percentage point and renew bond purchases in pursuit of stronger economic growth.

“I’m not so sure I agree with the White House that we should cut rates by an entire percentage point,” Stephen Moore said Thursday in an interview on Bloomberg TV. “I just don’t see the case for that right now.”

Moore continued, however, to characterize the Fed’s December rate hike as “economic malpractice” in a separate meeting with reporters and editors at Bloomberg News, adding that he had no objection with the Fed’s decision on Wednesday to leave rates unchanged.

“What they did yesterday is fine,” he said. “But I do think the Fed has been too tight in the last six months.”

Moore, a Heritage Foundation fellow and a former Trump campaign adviser, spoke hours before pulling out of consideration for the job hours after he said he was “all in” for the central bank.

Earlier, Moore said he believed in the importance of Fed independence, but also said the president should be able to criticize the central bank if he thought officials had erred.

“The president is the CEO of our economy and when the Fed makes a mistake, I’m not so sure it’s inappropriate for the president to speak out,” he said.

“What happens when the Fed screws up?” he said. “Real people were really hurt by what happened in December. This isn’t a game -- two or three trillion dollars of wealth was just eviscerated because of the mistake that the Fed made. Who are they accountable to?”

Under the Federal Reserve Act the central bank is accountable to Congress, requiring it to report on monetary policy and its leaders to testify before lawmakers twice a year.

Hours earlier, Moore said in an interview with Bloomberg News that he spoke to someone at the White House on Wednesday and had no indication he would not be nominated. “My biggest ally is the president,” he said. “He’s full speed ahead.”

“I’m all in,” Moore said.

Moore’s exit comes less than two weeks after Trump’s pick for another Fed seat -- former Godfather’s Pizza Inc. Chief Executive Officer Herman Cain -- withdrew from consideration as criticism related to sexual harassment allegations eroded support for him.

The White House has yet to announce new candidates, but Judy Shelton -- an economist who’s been affiliated with the free-market Atlas Network -- was endorsed last month for the job by the Wall Street Journal editorial board.

Moore was described by some critics as a threat to the Fed. In addition to being an unpredictable commentator and unorthodox economic thinker, Moore struck some economists as a partisan pick who might inject a short-term political agenda into monetary policy deliberations, which central bank independence is designed to guard against.