Federal Reserve Board nominee Stephen Moore Wednesday defended his record as an economist and as an adviser to President Donald Trump, after The New York Times editorial board said he and fellow nominee Herman Cain are "exceptionally unqualified to serve on the Fed’s board."
"These are the people who have gotten it wrong for the past week or four years, who said that if Donald Trump is elected president, we would have a second Great Depression and the stock market would crash," Moore told Fox Business' Maria Bartiromo.
He added that he is "very proud" of the service he and now-National Economic Council Larry Kudlow provided for Trump during his campaign.
Moore pointed out that even though he's not a "Ph.D economist," he was the youngest policy analyst on the budget when he was 25 years old and has been the chief economist for both The Wall Street Journal and the Heritage Foundation. He is currently the chief economist for the Institute for Economic Freedom and Opportunity.
"We helped put together the Trump tax plan and many parts of his agenda," said Moore. "How could anybody argue against it when we have this great economy, and I'm proud of that."
Moore added he was "skeptical" about the Fed's interest rate increase last September and "harshly critical" of another in December.
"Let's go back to the summer of 2018," he said. "We had almost 4% growth which was phenomenal. You had high employment which wage growth, that's what we wanted to create and that was behind the Trump economic agenda and we have to raise rates because growth is too high? I don't get the logic of that."
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