US President Donald Trump has proposed his ex-campaign adviser Stephen Moore for a vacant post at the Federal Reserve (Fed). That's what Trump told journalists. Earlier, the Wall Street Journal (WSJ), which Moore used to work on, had previously reported it.

According to the newspaper, Trump has made an offer to the economist and senior fellow of the conservative think tank Heritage Foundation this week. The reason for the conversation was a statement by Moores, for which Trump expressly praised his former advisor.

The seven members of the governing body of the Fed are nominated by the US president, the US Senate decides on the appointment. Currently, only five of the seven posts are occupied. Together with the board of the New York central bank and four other executive boards of the eleven regional central banks, they form the so-called open market committee. This body is responsible for US monetary policy and sets the key interest rate.

Tom Williams / CQ Roll Call / AP

Stephen Moore (Photo from 2016)

Trump has repeatedly criticized the US Federal Reserve for being "crazy", "crazy" and "out of control". The president accused the central bank's leadership of putting an aggressive interest rate policy on the upswing. Fed Chairman Jerome Powell, originally proposed by Trump himself, emphasized the independence of the Fed and said in the September rate hike that "political factors or the like" were irrelevant to monetary policy decisions.

Trump: Fed decision prevented more growth

Most recently, Trump indulged in an interview with broadcaster Fox and accused the Fed of slowing economic growth by over-tightening monetary policy.

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How Fed is the Federal Reserve Chairman?

Instead of the achieved increase of the gross domestic product of 3.1 per cent in the year 2018 it would have otherwise "more than four per cent" can become.

However, in view of the uncertain economic outlook for 2019, the Fed has signaled a pause in interest rate hikes after having four times the key monetary policy rate last year. It is currently in a range of 2.25 to 2.5 percent.