Commander-in-Chief Picks Flatterer-in-Chief for Fed Board

Jeff Malet/Newscom via ZUMA

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Donald Trump has nominated Stephen Moore, a TV buddy of Larry Kudlow, to serve on the Federal Reserve Board of Governors. This is about like nominating Dr. Phil to run the CDC. Or, come to think of it, like choosing Larry Kudlow as director of the National Economic Council.

But this is what we expect from Trump these days, and I imagine the Republican Senate will handwave Moore’s nomination through. The Wall Street Journal explains what caught Trump’s attention:

Mr. Trump spoke to Mr. Moore to compliment the economic commentator on an opinion article he co-authored last week calling the Fed Chairman Jerome Powell’s policy moves a threat to the U.S. economy….Moore for many years argued against the Fed’s postcrisis policies to keep rates low and to buy long-term bonds to stimulate growth, warning that the measures would stoke high inflation. But he has recently said the Fed is making money too tight, echoing Mr. Trump’s criticism of Mr. Powell and the Fed.

Moore is a hack who argued—absurdly—for high interest rates as long as a Democrat was in office, but then made a sudden U-turn when a Republican president needed to be sucked up to. And it’s paid off. It’s impossible to flatter Donald Trump so much that he figures out what you’re doing, and sure enough, Moore’s willingness to abase himself to Trump’s beliefs has earned him a big promotion.

Welcome to the 2019 version of America.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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