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Economists and other critics have expressed concerns about
Moore, a conservative economic commentator, and another Trump
loyalist nomination to the Fed's Board of Governors, serving on
the traditionally nonpartisan central bank.
Warren, a Democrat who is running to challenge Trump in the 2020
election, said Moore had "a long history of making wildly
inaccurate claims about economic policy that appear to serve
political ends."
"Americans should be able to trust that policymakers ... have
some command over basic mathematical and economic concepts and
allegiance to facts," she wrote in a letter to Moore.
Warren cited examples where Moore's economic commentary appeared
in conflict with other research or Moore's earlier stances. She
included a multiple-choice questionnaire asking if he still held
prior views, including describing himself as "not an expert on
monetary policy."
Moore did not immediately respond to an email seeking comment.
Moore, and fellow Trump nominee Herman Cain, a former restaurant
chain executive, are battling for the two vacant seats on the
Fed's Board of Governors, positions that would give them a say
for years on interest-rate policy and bank regulation.
Analysts say Moore has at times sounded like a “hard money”
advocate. In 2015, he said that the Fed’s crisis-era polices
were "cheapening our dollar ... We have got to get rid of the
Federal Reserve and move toward a gold standard in this
country."
The dollar in 2015 was in the middle of a six-year rise in value
against a basket of foreign currencies. Moore now says he wants
to cut interest rates, which would generally weaken the
currency.
He has also said he changed his mind about the gold standard and
advocated tying Fed policy to a commodity index, which he said
former Chairman Paul Volcker used to tame inflation. Volcker did
not use such a rule.
Warren sent a separate letter to Cain, a former Republican
presidential candidate, also describing him as unsuitable for
the post.
Cain's potential nomination appears to be in trouble, as
multiple Republican senators, whose votes he would need for
confirmation, have already said they would oppose him.
Neither nomination has been formally sent to the Senate but
Trump has said he will put their names forward.
(Reporting by Pete Schroeder, Howard Schneider and Trevor
Hunnicutt; Editing by Susan Thomas)
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