Government by whimsy. Trump puts the “very best people” in charge. Not unlike Larry Kudlow, Trump installs people who have been consistently wrong about the US economy. So much winning, bringing a recession.
Funnily enough, when we DID have deflation -- during the depths of the financial crisis -- he argued for tighter monetary policy, suggesting that the Fed was about to stoke hyperinflation.
Of course, a Democrat was in the White House then.
When pressed about what "deflation" he sees right now, Moore points to commodity prices (including soybeans, whose prices plummeted because China stopped buying them thanks to the trade war).
One time when I was on CNN with him, he claimed the "Volcker Rule" required setting interest rates according to commodity prices. That is...not what the Volcker Rule is. Watching this clip, starting around 07:59:
Moore has also explicitly urged Trump to "fire" Fed chair Powell for not doing Trump's bidding on interest rates.
Not only that: Moore has urged Trump to fire *everyone* at the Fed for raising interest rates.
None of this bodes well for preservation of central bank independence if Moore gets a Fed seat.
Moore often scaremongers about the risk of turning into Venezuela; but putting politicians or their political minions in charge of the printing press is the swiftest way to get there.
In May 2015, Moore cofounded the Committee to Unleash American Prosperity with Arthur Laffer, Larry Kudlow, and Steve Forbes, with the stated mission of "persuading the presidential hopefuls in both parties to focus on the paramount challenge facing our country: slow growth and stagnant incomes."[20]
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