BREAKING: Stephen Moore Withdraws as Trump’s Fed Pick After Backlash

President Donald Trump announced on Thursday that Stephen Moore, his pick for the Federal Reserve board, has withdrawn his nomination.

“Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process,” Trump wrote on Twitter. “Steve won the battle of ideas including Tax Cuts … and deregulation which have produced non-inflationary prosperity for all Americans. I’ve asked Steve to work with me toward future economic growth in our Country.”

….and deregulation which have produced non-inflationary prosperity for all Americans. I’ve asked Steve to work with me toward future economic growth in our Country.

— Donald J. Trump (@realDonaldTrump) May 2, 2019

The nomination of Moore — a economist known for his cable news appearances — set off controversy considering his controversial punditry on rate hikes and child labor laws as well as his past comments about women. Moore decried his critics as waging a “smear campaign” and “character assassination.”

In an appearance on Fox News last week, Moore said he would withdraw his nomination if he became a “liability” to Republicans. His chances appeared all but sunk when Sen. Joni Ernst (R-IA) said she would not vote for Moore, and that he did not have the votes to be confirmed.

“He would not have enough votes. Don’t bother sending (the nomination) up, that’s all I gotta say,” Ernst said Tuesday.

She explained that Moore’s past writings about women — which included criticizing women’s inclusion in sports — ruled him out as a viable nominee.

“Look at his writings,” Ernst said. “I’m not enthused. I’m a woman, right here folks.”

This story is developing.