Stephen Moore has withdrawn from consideration to serve on the Federal Reserve's board of governors.
"Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process. Steve won the battle of ideas including Tax Cuts and deregulation which have produced non-inflationary prosperity for all Americans. I’ve asked Steve to work with me toward future economic growth in our Country." President Donald Trump tweeted on Thursday.
https://twitter.com/realDonaldTrump/status/1123987856500887554
Earlier today, Moore expressed disagreement with Trump's call for the Federal Reserve to cut interest rates.
"I’m not so sure I agree with the White House that we should cut rates by an entire percentage point," Moore said. "I just don't see the case for that right now."
Moore had not been officially nominated for the role, but he faced objections from some Republican senators.
"Very unlikely that I would support that person," Sen. Joni Ernst, (R., Ia.) said of Moore.
"I would vote no against him, should he come up for a vote," Ernst added on Wednesday. "I know there are a number of other colleagues that have spoken out as well."
Senate Majority Whip John Thune (R., S.D.) called the possibility of confirming Moore a "very heavy lift."
Moore was scrutinized for past articles which suggested women should not earn as much as men. He was also held in contempt of court in 2013 for failing to pay more than $300,000 in child support to his ex-wife.
Moore's withdrawal comes within weeks of former presidential candidate Herman Cain backing out of consideration for serving on the Fed.