Topic: Politics
by MPeriod
Posted 9 months ago
Former Trump adviser Stephen Moore critiques the current tariff strategy, highlighting concerns about the US economy's stability.
Stephen Moore expressed his belief that President Trump's focus on tariffs is "misguided." Speaking to Fox News, he pointed out the following:
“I think we have a very wobbly economy. We saw a not-very-good jobs report on Friday. The consumer confidence numbers are sinking, and other indicators are not positive.”
According to Moore, what the economy truly needs is a boost from the tax cuts rather than tariffs. He stressed the importance of passing tax cuts swiftly:
“Congress has to get this passed as soon as possible – by Memorial Day. That will provide the stimulus the economy needs.”
Moore has a history of supporting tax cuts and penned the book Trumponomics. He was also nominated by Trump for the Federal Reserve board in 2019 but withdrew due to various controversies including personal and legal issues.
Despite Trump's assurance that the economy is strong, he acknowledged potential recession risks. Moore offered a mixed perspective:
“Let me just say one thing positive about where we are right now... It is true that the United States today has the strongest economy.”
As trade tensions grow with Canada, Mexico, and China due to tariffs, the situation remains complicated. Moore commented on the fluctuating nature of tariffs and their effect on the stock market:
“One day the tariffs are going to go up, then there’s going to be a delay, and then there’s going to be a tariff on another country; and it’s been up and down and up and down.”