Steve Moore: Trump Only Has Himself to Blame If He Doesn’t Like What Fed Chair Powell Is Doing

‘Donald Trump appointed Jerome Powell’

EXCERPT:

HARLOW: “Is the president doing harm to the core independence of this critical institution by making these public and personal attacks?"
MOORE: "Well, I think it's all too personal for my taste. But there's no question -- look, you're exactly right, Donald Trump appointed Jerome Powell a little over a year ago. So he's his own appointment. And if he has only one -- anyone to blame, it's himself if he doesn't like what Jerome Powell is doing. But he --"
HARLOW: "Wait, wait, pause there."
MOORE: "Yes."
HARLOW: "You just said, former adviser to the president on all things economy, it is the president's own fault here if he doesn't like Jerome Powell, right?" 
MOORE: "Well, he made the appointment. And now Powell is not pursuing the policies that he would have liked to have seen put in place. So, here's the issue, though, I think. Is the president right that the Fed is making a mistake? I happen to agree with Donald Trump on this. I do believe that the Fed has been way too tight. They're raising interest rates way too quickly. You mentioned their mandate. By the way, one of the problems that the Fed has is this dual mandate. It should not have the mandate of getting to full employment. The way you get to full employment is by having price stability. And as I look at the data right now, if you look at what's happening with the price of oil, the price of commodities, like corn and copper and wheat, those are falling in price, which is an indication that we actually have slight deflation, not inflation." 

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