President Donald Trump announced Thursday that conservative commentator Stephen Moore has withdrawn as a candidate for the Federal Reserve, a stinging blow to the president’s efforts to install political loyalists at the central bank.
“Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process,” Trump tweeted.
"Steve won the battle of ideas including Tax Cuts...and deregulation which have produced non-inflationary prosperity for all Americans. I’ve asked Steve to work with me toward future economic growth in our Country."Another Fed pick, Herman Cain, also withdrew from consideration recently. The president had declared both men to be his preferred choices for the Fed, but both faced stiff opposition from Republicans in the Senate.
Article originally published on POLITICO Magazine