President Trump’s pick for a spot on the Federal Reserve, Stephen Moore, appears to be facing difficult prospects for confirmation.
Republican senators expressed hesitance Monday about the selection of the conservative economic analyst and activist, given several controversies surrounding his finances and past writings, an indication that he is unlikely to gain formal nomination and confirmation.
“He hasn’t called me, he hasn’t asked my opinion,” said Sen. Johnny Isakson, R-Ga. “You would think that after he said some of the things he said in the past, he would’ve if he were really sincere about getting the job.”
Another of Trump’s picks for a spot on the Fed’s Board of Governors, conservative activist and former pizza CEO Herman Cain, was forced last week to withdraw his name from consideration amid Senate GOP opposition. If Moore also backed out, it would present a major setback in Trump’s efforts to influence the central bank and make it more amenable to lowering its interest rate target, something he has forcefully advocated.
Moore’s past writing on women, a tax lien he allegedly owes to the government, and late child support and alimony payments related to a contentious divorce all likely contributed to the reticence among Republicans whose votes he would need if Trump were to formally nominate him.
“Taxes, alimony, child support, questions about all this. It doesn’t help any,” said Sen. Richard Shelby, R-Ala., who said there was a “drip-by-drip” aspect to news about Moore.
Moore declined to comment when reached by phone on Monday. In an interview with ABC on Sunday, Moore said he was “apologetic” for the writings, which include a 2002 column in which he said women should not participate in sporting events unless they are attractive.
National Economic Council Director Larry Kudlow, a friend and supporter of Moore, told reporters on Monday that the White House still supports Moore.
“[W]e are still behind him. And he is going through the process of vetting, and we’ll see what happens in that process,” said Kudlow. “And hopefully we’ll go on to the Senate Banking Committee. There’s no change in our position.”
White House press secretary Sarah Sanders told reporters that the White House is reviewing Moore’s past writings.
[Related: Pelosi: Trump Fed picks Moore and Cain are ‘dangerous’]
Trump had appeared to preempt his own staff in announcing Moore’s nomination in March. Moore himself had told the Washington Examiner about an hour before Trump’s announcement that he had not spoken to Trump about the position.
If confirmed to a term on the Fed board, Moore would have a vote on key monetary policy and financial regulatory decisions.
Sens. Joni Ernst, R-Iowa, and Mitt Romney, R-Utah, also told reporters they took issue with Moore’s past writings on women, though neither said if they would oppose him.
“I hope they’re things he’d like to reconsider,” said Romney.
Ernst told Bloomberg earlier on Monday: “I’m not enthused about what he has said in various articles.” She said that Moore’s past stances on women in sports and the workforce were “ridiculous.”
Moore has also drawn criticism from conservative economists for his past views on monetary policy, which the Fed governs for the U.S. Moore reversed past stances calling for raised interest rates during the Obama administration, aligning himself with Trump’s unusual call for the Fed to lower its rates, which it typically does to help boost the economy when it slows.
Moore’s close realignment with Trump on policy issues, combined with his past political activism as president of the conservative Club for Growth, has raised questions about whether Moore would be independent of Trump. Congress has given the Fed the power to conduct monetary policy independently of the legislature or executive branch.
“I get that the Fed has to be independent of what the president wants,” Moore told the Washington Examiner in March. “Certainly I’m in favor of most of the policies that this president has put forth.”
Steven Nelson contributed to this report.
