Stephen Moore out of Fed contention

Economic commentator Stephen Moore has withdrawn his name from consideration for a seat on the Federal Reserve Board of Governors, President Donald Trump tweeted on Thursday.

Moore is the second Trump pick to withdraw from consideration for two open seats on the seven-member board of the world’s most influential central bank.

Trump’s other choice, Herman Cain, withdrew his name in late April, citing the pay cut he would have to take. His nomination had revived old claims of sexual harassment that sank his 2012 Republican presidential candidacy. Cain continues to deny the claims.

Moore was a controversial pick from the start for the normally staid and apolitical Fed, which is responsible for setting interest rate policy for the US economy. Economists and former Fed officials have described him as an ill fit for the central bank over his lack of qualifications and close ties to Trump.

Moore has also drawn scrutiny over his personal financial issues, including unpaid taxes.

But it was Moore’s comments on women’s advancement that appear to have sealed his fate. He initially dismissed the criticism, claiming his columns decades ago for the conservative National Review inveighing against women’s participation in sports and the military were “spoofs.”

More From CNN: