Tags: Trump Administration | stephen moore | federal reserve | economic | adviser

Stephen Moore: 'Very Tight' Fed Is 'Strangling Growth' in US

stephen moore is interviewed
Stephen Moore (Tom Williams/AP)

By    |   Sunday, 07 July 2019 01:33 PM

The Federal Reserve is "strangling growth" in the U.S. with its "very tight monetary policy," according to President Donald Trump's economic adviser Stephen Moore, ripping the independent body he withdraw his nomination from.

"Incidentally, this is the other reason why I think we've seen a slight slowdown in the growth of the economy, is because the Fed is strangling growth with a tightening of the money supply," Moore told Sunday's "The Cats Roundtable" on 970 AM-N.Y.

". . . The Fed needs to cut rates. They need to cut rates by 25 to 50 basis points at their next meeting in a few weeks in July, because, I think, the economy is being hurt by a very tight monetary policy. It's been negative for commerce, manufacturers, and others as well."

Moore told host John Catsimatidis "the dollar is as strong as it's ever been."

"Everybody wants to buy dollars," Moore said. "The Fed is not accommodating that, and has created a tight situation for money that, I think, is choking off growth."

Moore praised President Trump's nomination of Judy Shelton to the Fed, calling her "a breath of fresh air" for the board.

"I am so pleased about Judy Shelton," Moore said. "She is going to be the new member of the Federal Reserve Board . . . Judy Shelton . . . understands money. She understands growth. She understands jobs. She understands interest rates. She's one of the world's experts on monetary policy.

"She thinks like . . . the president does — that the Fed has been way too tight."

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
The Federal Reserve is "strangling growth" in the U.S. with its "very tight monetary policy," according to President Donald Trump's economic adviser Stephen Moore, ...
stephen moore, federal reserve, economic, adviser
263
2019-33-07
Sunday, 07 July 2019 01:33 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved