President Donald Trump said he's nominating Moore, a long-time supporter of the president, for a seat on the Federal Reserve Board. Trump has alleged that because Powell led a campaign to slowly raise interest rates, he was running the risk of slowing economic growth. Fed officials are concerned that economic growth could slow markedly this year amid pressure from issues in China and Europe, a sentiment shared by many economists. Moore has been a long-standing advocate of tax cuts and the belief that lower taxes will lead to large-scale economic growth, a sentiment that many Republicans share. [President Trump should leave the Fed alone]Democrats, however, criticized the potential selection of Moore.

Source: Washington Post March 26, 2019 13:41 UTC