Breaking: Trump says Stephen Moore is withdrawing from consideration for Fed
The president had declared both men to be his preferred choices for the Fed even before the White House and the FBI had completed vetting them, but both faced stiff opposition from Republicans in the Senate.
By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time.Trump’s selection of two overt political allies had set off alarms among lawmakers that they would erode the Fed’s political independence by focusing on the president’s reelection prospects rather than on what’s best for the long-term health of the economy.
But both Moore and Cain stepped down mainly because of issues with women; Cain has been accused of sexual harassment in the past, and Moore has written disparagingly of women. In 2014, he wrote that women earning more than men could be “disruptive to family stability,” and in 1994, he blasted the Violence Against Women Act, a tool aimed at combating and prosecuting sexual assault and other violent crimes, as “the most objectionable pork” in a crime prevention bill.
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