Stephen Moore Urges Federal Reserve to Hold Interest Rates

Stephen Moore, chairman of Unleash Prosperity and former senior adviser to Donald Trump, argues that the Federal Reserve System should maintain current interest rates rather than implementing cuts. Moore bases this position on inflation running at approximately 3.5%, suggesting that consumer anger over high prices makes rate cuts inappropriate.

While Stephen Moore acknowledges that President Donald Trump has legitimate objections to Canadian tariffs on U.S. farmers, he cautioned against picking a trade war with Canada ahead of the midterm elections. He identified high oil prices as a primary economic drag, citing the closure of the Strait of Hormuz and a six-month war in Iran.

Moore noted that a new partnership with Venezuela is intended to lower oil prices in the long term, but he warned that this strategy will not provide immediate economic relief before the upcoming elections.