Moore calls for 50-point Fed interest rates cut

Bloomberg

Stephen Moore, who Donald Trump may nominate for a seat on the Federal Reserve Board, told the New York Times in an interview that the central bank should immediately reverse course and lower interest rates by half a percentage point.
That’s a contrast from language used by sitting board members in recent days. San Francisco President Mary Daly told reporters that the appr- opriate policy is being patient. Minneapolis’ Neel Kashkari and Chicago’s Charles Evans also called for called for caution since the Fed met last week.
Boston President Eric Rosengren said in a March 22 interview he’s “ more optimistic” over the outlook for economic growth and inflation than most
of his colleagues on the central bank’s policy-setting Federal Open Market Committee.
Officials held rates steady at their March 19-20 meeting as global risks cloud the outlook and inflation remains shy of their 2 percent target, which it has undershot for most of the past decade.
Moore made his comments in an interview with the newspaper, in which he also said he wouldn’t be a “sycophant” for Trump if nominated and confirmed.