NEW: Pres. Trump said he will nominate Stephen Moore, a conservative economic analyst, to fill a vacancy on the Federal Reserve's seven-member board.
said Friday that he will nominate Stephen Moore, a conservative economic analyst, to fill a vacancy on the Federal Reserve's seven-member board.
Trump has been harshly critical of the Fed's rate increases last year even after the central bank this week announced that it foresees no hikes this year. Moore, who has served as chief economist for the conservative Heritage Foundation, has also been critical of policy moves made by Chairman Jerome Powell, who was hand-picked by Trump to be Fed chairman.
Trump in his first two years in office has been able to reshape the central bank. He nominated four of the current five members. And he tapped Powell, a Republican who had been chosen for the Fed board by President, to succeed Janet Yellen as chairman. If confirmed by the Senate, Moore would fill one of two vacancies on the Fed's board.
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