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And what he now claims to support -- pegging the dollar to a basket of commodities – would be almost as bad as a gold standard. There's a history here – a history people like Moore refuse to learn from 1/
Here's the history of commodity price inflation vs the Fed's preferred measure of core inflation since 2005. The Fed's view has always been that core, which excludes volatile commodity prices, is a better guide to underlying inflation 2/ 
Republicans gave the Fed huge grief over that view. During the period 2010-2012, when commodity prices were rising due to global recovery, they kept insisting that this was a sign of imminent runaway inflation requiring tight money 3/ nytimes.com/2011/02/10/bus…
Of course, they didn't demand monetary expansion during the commodity price dip of 2015-6 – only GOP presidents get expansionary monetary policy. Still, let's act as if they were sincere. Surely the failure of runaway inflation to materialize should have provoked rethinking 4/
In fact, the concept of core inflation is one of the economic doctrines that – along with the liquidity trap and the Keynesian multiplier – came through the post-crisis years with flying colors. But there has been no reckoning on the right 5/
On the contrary, to be a Republican economist in good standing, you have to have been consistently wrong about monetary policy, and refuse to admit that you were wrong. Moore is a flamboyant example, but not unique 6/
There's a whole class of what I've taken to calling SRCEs – supposedly respectable conservative economists – who happily fed the GOP's monetary delusions. The 2010 open letter to Ben Bernanke gives you a good sample 7/ economics21.org/html/open-lett…
And as far as I can tell, not one of the SRCEs has spoken against Moore's appointment. In fact, Greg Mankiw is pretty much the only prominent Republican economist willing to speak up against a man they all know is a charlatan and crank 8/
In this, as in so much else, the rot runs deep. Trumpism is not an aberration 9/
