President Donald Trump's pick to fill a seat on the Federal Reserve, economic commentator Stephen Moore, withdrew from consideration on Thursday after weeks of criticism about his shifting views on interest-rate policy and sexist comments about women.
"Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process," Trump wrote in a post on Twitter.
"I’ve asked Steve to work with me toward future economic growth in our Country," Trump said in a second tweet.
Trump picked Moore, 59, in March to fill one of two vacant positions at the Fed, but had not formally nominated him.
This is the text of Moore's letter to Trump, released Thursday afternoon:
Mr. President,
I was honored and grateful that you asked me to serve on the Federal Reserve Board. Your economic policies have been a spectacular success for American workers. Record low unemployment, 3.2% growth, seven million job openings, and a near 40% rise in the stock market with five quarters now of 3% economic growth, something your critics said could never happen. Trumponomics has been VINDICATED.
Your confidence in me makes what I am about to say much harder. I am respectfully asking that you withdraw my name from consideration. The unrelenting attacks on my character have become untenable for me and my family and 3 more months of this would be too hard on us.
As you know, for the last four years nearly since the start of your campaign for President, I have been an advocate of your economic agenda and am proud to have played a small role in helping make that happen. I will continue to be a loud economic voice advocating for your policies, which will keep us on a prosperous path of 3 to 4% growth with rising wages and low inflation for as far as the eye can see,. I am always at your disposal.
With the greatest regards and respect.
Stephen Moore