Off The Wire
Potential Fed nominee Moore: 5% U.S. economic growth 'might be a stretch'
WASHINGTON (Reuters) - Potential U.S. Federal Reserve nominee Stephen Moore on Wednesday said the U.S. economy can grow at 3% or 4%, largely reflecting President Donald Trump’s stance, but suggested it might be hard to top that rate.
“We can grow this economy at 3 or 4%. Trump wants 5% growth - that might be a stretch,” Moore, a conservative economic commentator, said in an interview on Fox Business Network.
The president has said he plans to nominate Moore, along with former restaurant chain executive Herman Cain, to spots on the Federal Reserve Board, riling economists and other critics concerned about the two Trump loyalists serving on the traditionally nonpartisan central bank.
Some of Trump’s fellow Republicans have also voiced concerns about the potential nominees, who have yet to have their nominations formally sent to the U.S. Senate, which must approve them.
Moore said he rejected the idea that the U.S. economy could only grow at 2% but acknowledged economic softening impacting other countries.
“I am a little bit worried about the global economy,” Moore told FBN. “That does restrain growth.”
Reporting by Susan Heavey; Editing by Chizu Nomiyama