Commentary By Stephen Moore

July 30, 2019

Why the Fed Is Right to Inject the Economy With More Dollars By Stephen Moore

Suddenly, nearly everyone wants the Federal Reserve Board to cut interest rates. I've been arguing for this for nine months, so it's nice to see the economic intelligentsia is finally persuaded. The Fed has become a restraint on growth since last August thanks to ill-advised interest rate increases (and promises to raise rates more in 2019), which slowly squeezed out of the economy dollar liquidity and tanked the stock market.

July 23, 2019

'Who's Afraid of Cryptocurrencies?' By Stephen Moore

Finally, we seem to have a bipartisan consensus in Washington. Both parties are terrified of new private money, and they want to regulate it out of existence. The near universal fear and loathing by government officials of these so-called cryptocurrencies is all the more reason they should exist.

July 17, 2019

Trump Moves to Lessen the Pain of Capital Gains Taxes By Stephen Moore

It's official. President Donald Trump wants to index capital gains taxes for inflation. This would be a big stimulus boost for the U.S. economy immediately and over time and could get us back to 3% to 4% growth by liberating potentially hundreds of billions of dollars for new capital investment. My sources tell me that the president has told his White House team that if he can get his legal counsel to give him a ruling that he has the right to make this change administratively, he will do exactly that.

July 9, 2019

Busing, No; School Choice, Yes By Stephen Moore

In the first Democratic presidential debates, Sen. Kamala Harris of California defended forced busing back in the 1970s as a civil rights triumph and criticized former Vice President Joe Biden for racial insensitivity for once opposing the policy.

July 2, 2019

'It's the Spending, Stupid!' By Stephen Moore

The Congressional Budget Office has just released its mid-year update on the federal fiscal situation, and it portends a debt avalanche. But don't bother to tell Sens. Bernie Sanders and Elizabeth Warren that. They're busy advocating tens of trillions of dollars in new federal spending.

June 25, 2019

Blurring the Expense of Medical Care By Stephen Moore

Several years ago, I had a shoulder injury, and the doctor told me I might need surgery to fix the small tear in my rotator cuff. So, I asked, "Doctor, if I have this surgery, about how much will it cost?"

June 18, 2019

Without Mining There Is No 'Green Revolution' By Stephen Moore

The recent threats by Beijing to cut off American access to critical mineral imports have many Americans wondering why our politicians have allowed the United States to become so overly dependent on China for these valued resources in the first place.

June 11, 2019

Tortured Logic at the Federal Reserve By Stephen Moore

I've been shouting from the rooftops for six months that the Federal Reserve is too tight on money and that this lack of dollar liquidity has cut into growth. So it is somewhat vindicating that Fed Chairman Jerome Powell seems to be finally coming around to that idea. The betting markets are now predicting at least one rate cut this year -- and perhaps two.

June 4, 2019

Are Men Becoming Economically Expendable? By Stephen Moore

Almost all of the economic discussion of late has been on the "wage gap" between men and women. A case in point: California Sen. Kamala Harris wants to create a federal bureaucracy that will ensure the government has more influence over workers' pay than workers and employers themselves. This will open up a Pandora's box for trial lawyers as employers find themselves deluged with lawsuits over pay "gaps" real and imagined.

May 29, 2019

The Fed Hurts Farmers More Than China Does By Stephen Moore

There's no question that many farmers are struggling this year with incomes down and bankruptcies up. Though some of the more dire reports on the farm sector recorded in the media are exaggerated, what is indisputable is that prices for major commodities such as corn are on a downward trend and are significantly lower than they were less than a decade ago, when prices were at or near record highs.

May 21, 2019

How to Modernize Immigration Laws By Stephen Moore

When I used to talk to candidate Donald Trump about immigration, I would tell him, Make sure your "big, beautiful wall" has plenty of gates for people to come here legally. President Trump's new immigration initiative would achieve both goals -- border security and a new system to admit the immigrants America needs most.

May 14, 2019

Ohio the Comeback State By Stephen Moore

I recently took some flak from Ohio Sen. Sherrod Brown for saying in a speech at the Heartland Institute several years ago that the "only place to live in the midwest is Chicago." He was particularly upset that I took a tongue-in-cheek swipe at Cleveland and Cincinnati as "armpits." This was supposedly evidence that I hate Ohio.

May 7, 2019

Let the Sunshine in at the Federal Reserve By Stephen Moore

I'm disappointed I had to withdraw from the nomination to be a member of the Federal Reserve Board because I do believe the Fed needs to change the way it operates. In the last month, I started investigating how it makes its decisions, which have such a dramatic impact on jobs, wages, interest rates and the overall well-being of the country. How does the Fed make its monetary policy decisions on setting interest rates, buying bonds and regulating our financial institutions?

April 30, 2019

The Carbon Tax Fantasy By Stephen Moore

Every time a reporter asks me if I would support a carbon tax, I always say that I might if it led to a dollar-for-dollar reduction in income or payroll tax rates. And the new energy tax would have to replace onerous greenhouse gas regulations. And every time I say this, the next day a headline reads, "Steve Moore Is for a Carbon Tax."

April 23, 2019

The Immigrants We Need Most By Stephen Moore

Of all America's immigrant visa programs, arguably the most successful for the U.S. economy has been the H-1B program. This program admits highly skilled foreign workers who fill vital employment niches to make our Made in America businesses more successful in international markets. Larry Kudlow, the director of President Donald Trump's National Economic Council, calls these immigrants the "brainiacs."

April 16, 2019

Is America Running Out of Workers? By Stephen Moore

If you want one number that encapsulates the enormity of the economic turnaround under President Donald Trump, it is this: In America, as of the end of February, there were 7.1 million unfilled jobs, according to the U.S. Bureau of Labor Statistics. This number is larger than the entire population of the state of Indiana. That is how powerful and relentless the hiring spree has been under Trump policies.

April 9, 2019

How to Prevent the Next Financial Crisis By Stephen Moore

What caused the financial crisis and Great Recession? A decade later, economists still don't have a good answer. Of course, the financial bubble in the housing market was the proximate cause, but this begs the question of what inflated the bubble that burst in the first place.

April 2, 2019

The Biggest College Scandal of All By Stephen Moore

The seething anger Americans feel over the college admission scandal with wealthy and well-connected families using money, influence and cheating to bump their kids up in line so they get accepted into elite schools is well justified. Yet this scheme is small potatoes compared to the real scandal on college campuses from coast to coast. That scam is how much universities are charging families once they do get in.

March 26, 2019

How the First 'Green New Deal' Flopped By Stephen Moore

Alexandria Ocasio-Cortez's Green New Deal has been widely ridiculed for its massive disruption to the economy and a price tag of tens of trillions of dollars.

March 19, 2019

The Democrats' $100 Trillion Agenda Could Easily Tilt the Nation By Stephen Moore

Remember when Democrats complained that $5.7 billion for a border wall was too expensive? Well, that's chump change compared to what many of the congressional Democrats and nearly all of those 15 declared Democrats in the presidential race are now rallying behind.

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