Trump’s Fed nominee says central bank should cut rates: NYT

FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo

March 27, 2019

(Reuters) – President Donald Trump’s expected nominee for the Federal Reserve Board of Governors, Stephen Moore, said the U.S. central bank should immediately cut interest rates by half a percentage point, according to an interview with the New York Times on Tuesday.

He also told the Times he is not a “sycophant for Trump” or “a dove” on monetary policy, a reference to policymakers who put less emphasis on using rate hikes to stunt inflation.

(Reporting by Trevor Hunnicutt in New York and Ann Saphir in San Francisco; Editing by Leslie Adler)

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