Moore's nomination, which the Senate must confirm, drew sharp criticism from some economists and historians.
GoLocalProv interviewed Moore in October of 2018 when he was in Rhode Island for the Center for Freedom and Prosperity's annual luncheon. Forecasts released at the end of its two-day policy meeting showed 11 of the Fed's 17 policymakers anticipate no rate increases this year, compared with just two who had that forecast in December.
He co-wrote a book with Trump's name in the title: 'Trumponomics: Inside the America First Plan to Revive our Economy'.
Moore, a well-known and often polarizing figure in Washington political circles, served as an economic adviser to Trump during the 2016 presidential campaign. Moore, formerly chief economist for the conservative Heritage Foundation, has also been critical of the policies of Chairman Jerome Powell.
He recently criticized the Fed for raising interest rates and has even called for the Fed to reverse its most recent rate hikes. "And frankly, if we didn't have somebody that would raise interest rates and do quantitative tightening, we would have been at over 4 [per cent] instead of at 3.1 [per cent]", he told Fox Business Network.
When Trump decided not to reappoint Janet Yellen as Fed chair, Moore said: 'The job of the Fed chair is not just to be the lead person on monetary policy.
As a result, "I'm anxious more on the deflation side right now than the inflation side, " he said, pointing in particular to a broad-based fall in commodity prices in recent months.More news: MSU, Minnesota rematch in second round of NCAA Tournament
So far this year, the Federal Reserve had been thrusting to guide the U.S. economy by controlling the interest rates, banks had been charging one another for immediate loans.
But if other economic data, including from the labor market, along with inflation readings "suggest that the economy may be overheating, then I think that I'd be comfortable to move", he said.
The central bank intends to slow the reduction of its holdings of Treasury securities by reducing the cap on monthly redemptions from the current level of $30 billion to $15 billion beginning in May, according to the statement.
Moore joined CNN as a contributor in early 2017.
Kevin Hassett, Trump's top economic adviser, told the Post that the analysis was wrong because the administration was able to achieve 3.1 percent growth over the previous year.
The Fed's patience, he said, does not mean it has ruled out any rate rises for the rest of the year, and it does not constrain its options.
There are two open positions on the Fed's seven-seat board.