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Commentary By Stephen Moore

Most Recent Releases

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September 10, 2019

Democrats Once Again Embrace Population Control to Save the Planet By Stephen Moore

Is the left once again embracing Malthusian population control in order to save the planet?

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September 4, 2019

Natural Gas, America's Wonder Fuel By Stephen Moore

One of the many idiocies of the "Green New Deal" and other such anti-fossil fuel crusades is that all of this arrives on the political scene at a time when the price of producing energy from fossil fuels is lower than at any time before in human history.

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August 27, 2019

Democrats Rooting for Recession By Stephen Moore

Last week, I gave a talk to high-wealth investors in San Francisco -- not exactly an audience of left-wing activists -- and people kept asking me the question of the day: "Will there be a recession?" My reply: I'd never say never, but I don't see a recession in 2020. And if we get a trade deal with China, the economy is going to soar. 

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August 20, 2019

Why Trump Should Stop the Reregulation of Freight Rail By Stephen Moore

Recently, two major railroad operators, CSX and Union Pacific, reported a significant drop in earnings, in part due to declining rail shipments. This was partially due to the impact of ongoing trade disputes. While we generally support a better trade relationship with China (hopefully with fewer tariffs and nontariff barriers), we need to see strong freight rail traffic if the economic expansion is going to roll on.

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August 13, 2019

Sending an SOS to the Federal Reserve By Stephen Moore

To keep the economy from a further growth slowdown, the Fed must inject more dollar liquidity into the global economy -- immediately.

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August 6, 2019

Why the Fed Shouldn't Compete With Private Banks By Stephen Moore

Do we want the U.S. Federal Reserve Board to operate as a commercial bank -- and compete with our private banking system? The Fed apparently wants to, and it's a policy shift that could greatly expand the mission of the Fed.

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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.

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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.

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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.

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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.

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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.

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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?"

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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.

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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.

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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.

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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.

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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.

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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.

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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?

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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."