The White House is standing behind the proposed nomination of Stephen Moore to the Federal Reserve board, a senior administration official said Monday, following reports of Moore’s past legal and financial problems.
These include a court’s decision to hold Moore in contempt in 2012 for failing to pay his ex-wife more than $300,000 as part of a divorce agreement.
The Guardian newspaper reported on Saturday on debts incurred by Moore during the divorce that resulted in a Virginia judge reprimanding Moore and ordering the sale of his property to satisfy the debt. The property sale process was called off after Moore paid some of the money owed to his ex-wife, Allison Moore.
The administration official told The Wall Street Journal Monday that new scrutiny of Moore’s legal challenges from the 2011 divorce wouldn’t change the White House’s plans to nominate the economic commentator to a Fed board seat.
An expanded version of this report appears on WSJ.com.
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