BlockBeats News, May 15: Federal Reserve Governor Stephen Moore officially submitted his resignation on Thursday, stating that he will vacate his seat on the Federal Reserve Board upon the inauguration of the new Chair, Kevin Warsh.

Since the sudden resignation of Adriana Kugler in August 2025, Moore has taken over her board position. Moore has consistently played a dissenting role within the Federal Open Market Committee (FOMC) responsible for setting rates. In all six FOMC meetings he attended, he voted "no" each time.

He expressed his belief that personal consumption expenditures (PCE) inflation, especially housing inflation, will gradually return to normal levels and reiterated the need for a rate cut, citing the lagged nature of monetary policy.

Moore has been an advocate for rate cuts, opposing the three 25-basis-point rate cuts approved by the FOMC in 2025 as he supported larger cuts. This year, he voted three times against keeping rates unchanged, instead supporting a 25-basis-point cut.

Furthermore, he stated that he has been pushing for a more forward-looking approach to monetary policy and believes that the Fed "needs to consider nonmonetary factors and their impact on monetary policy more carefully." He specifically mentioned the impact of slowing population growth, reduced immigration on employment, and the deflationary pressure from regulatory easing.