Stephen Moore named to the Fed board — and Paul Krugman melts down
Amazing. Moore isn't just a hack, with terrible judgment. He's a hack who has repeatedly shown himself unable even to get basic facts right 1/ https://t.co/OxCzhbTA0J— Paul Krugman (@paulkrugman) March 22, 2019
There are nine, count 'em, nine Krugman tweets and retweets on the topic of Moore taking his place as one of seven on the Fed's Board of Governors. Krugman is having a cow. He can't seem to think of anything else.
Obviously, Moore's nomination is affecting the man. Steven Hayward over at Power Line has an absolutely delicious post, with some backstory about how he was with Moore before it happened, with Hayward himself anticipating the Krugman meltdown. He was right: it happened, and Hayward was right there, waiting for it, to get his blog post out first. As to how bad it is, Hayward writes, "P.S. Yes, I have sent in a request that the SPCA conduct a welfare check on Krugman's cats."
It's that bad.
Here's the thing about it: Moore is a free marketer. He's as tough as they come. He believes in this stuff, and putting him on the Fed board means that the Fed is likely to shift more to a free-market stance to ensure more economic growth. That's good news for us in the private sector. I worked with Moore myself back when I was an Investor's Business Daily writer, and he's terrific. I've never disagreed with him on anything, and he's clear and articulate in explaining how the real world works. He's been focused heavily on the states (read: The Flyover) in many of his opinion pieces, and that's whom he's going to be looking out for while he's at the Fed. Is that good news for us? Yup, yup, yup.
And it's bad news for Krugman, because prosperity under a Trump administration is something he hates. Of course he's upset about this. In his shriveled little heart, he knows that Moore's ideas are likely to benefit America's economic performance and contribute to more job creation and inclusion in the economy. Krugman can't stand that — not because he doesn't think it will work (as he would have you think in his raging tweets), but because he knows that it will.
If Krugman is upset, the rest of us should be happy. Great move, President Trump, appointing this first-class economist to the Federal Reserve Board.