Trump’s Fed Board Nominee Stephen Moore: Capitalism Is ‘a Lot More Important Than Democracy’
Stephen Moore, President Trump’s nominee for the Federal Reserve Board of Governors, has described himself as a “radical” who is “not a big believer in democracy,” according to CNN. In the past, Moore, a former Trump campaign adviser and economic commentator, has said he believes capitalism is more important than democracy, and criticized the Fed board. “Capitalism is a lot more important than democracy,” Moore said. “I’m not even a big believer in democracy.” “There’s no bigger swamp in Washington than the Federal Reserve Board,” Moore said in a February interview posted on Vimeo. “It’s filled with hundreds of economists who are worthless... They should all be... fired.” He has also advocated for eliminating corporate and federal income taxes, and called the 16th Amendment that created the income tax the “most evil” law passed in the 20th century.
Trump made the announcement of Moore’s upcoming nomination in a tweet: “I have known Steve for a long time—and have no doubt he will be an outstanding choice!” Nominations to the Fed’s board have to be confirmed by the Senate.