CNN Plays Montage of Stephen Moore Calling for the Gold Standard After Saying He’s Not For It
While interviewing economist Stephen Moore, President Donald Trump’s potential pick to be on the Federal Reserve’s board of governors, CNN’s Erin Burnett asked how he felt about his past statements advocating to implement the gold standard.
“So the top banks testifying on Capitol Hill this week, as you know, they were asked specifically about your previous statements supporting overturn of the gold standard,” Burnett said.
“By the way, I don’t think I’ve ever really said anything much about the gold. I’m not in favor of gold standard, I am in favor of using commodities as forward looking indicator where prices are,” Moore replied.
Burnett then played a montage of Moore advocating to return to a gold standard over the course of a few years, with the most recent example occurring in 2016.
After the montage was played, Moore said he has since changed his mind on the issue.
“So let me respond to that. I think that a gold standard would certainly be better than we have right now, but I think there’s a much better system we could put in place, which would not just look at gold, but all commodities,” he explained. “I think they’re very good forward looking indicator for where prices are going.”
“I think a gold standard would probably be overly restrictive, but what I am in favor is looking at a basket of commodities, 30 commodities,” Moore added.
Watch above, via CNN.
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