Then there's the consequences of that slimy media hit job on Stephen Moore...

Even if Stephen Moore were an Obama-era leftist, the kind of media hit job thrown at him is cause for disgust.  President Trump's nominee was doxxed, smeared, and dirt-dug by a host of media opponents, making him impossible to confirm as a Federal Reserve Board governor in the weak-kneed, RINO-infested Senate.  His economic ideas were barely touched upon, although blowhards such as Paul Krugman made a few attempts.  Krugman, you recall, was the one who said the economy would tank and never recover if President Trump were elected.  His advice about the wisdom of appointing Stephen Moore to the Fed, then, would be just as strong a counter-indicator.

Because Moore would have been an outstanding member of the Federal Reserve board.  His understanding of fiscal — and monetary — policy were precisely what would have pushed the economy to grow even further, and already, it's doing extremely well.

Tom McArdle at Issues & Insights knows Moore's views very well on monetary policy, and he points out that American workers are the ones who lose out by the loss of Moore.  He writes:

Like others in the supply-side movement that came to prominence designing Ronald Reagan's tax cuts, Moore knows that an economy growing at optimum speed does not cause inflation. And he would have been the first Fed governor ever who unapologetically refused to raise short-term interest rates for the express purpose of slowing down an "overheating" economy. He wouldn't take part in killing Americans' jobs for fear of an inflation ghost that the evidence says doesn't really exist.

He also understands that money supply and interest rates are not the federal government's playthings, which is why Moore has emphasized the importance of looking to the real world indicator of gold and other commodities for guidance, and has even wondered — like free-market Nobel laureate Milton Friedman — if the Fed should even exist in its present form.

It's an excellent report with precisely the sort of details that address how Moore could have contributed to the Fed board.  What a shame he wasn't.  One can only hope that the next nominee will be as big a fan of free markets — and the kind of economy they create, every time, as Moore is.

Read the whole excellent thing here.

Image credit: Gage Skidmore via Wikimedia Commons, CC BY-SA 2.0.

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