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News Link • Federal Reserve

Stephen Moore Set To Challenge Fed Status Quo

• https://www.zerohedge.com, By Tyler Durden

Moore said on Bloomberg that he is seeking to debunk the idea that growth causes inflation and that he is also going to "try to demystify monetary policy so it's not conducted within a temple of secrecy."

Moore said yesterday: "I'll say that again: Growth does not cause inflation. We know that. When you have more output of goods and services, prices fall. And I think the Fed has been afraid of growth -- there's "growth-phobiacs" over there and I think they're wrong." Whether or not the FOMC committee will agree with that remains to be seen, it would be perhaps more interesting to hear his position on whether debt causes growth, which is far more topical in a world where to "buy" one dollar of GDP, nations have to increase debt by $3, $4 or more.

Last month, President Trump said that he's planning to nominate Moore for a seat on the Fed's board of governors. Trump's intentions drew ire and criticism from some circles as a move motivated by politics instead of "sound" economics.

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