President Trump plans to appoint Stephen Moore, a longtime supporter and visiting fellow at the conservative Heritage Foundation, to the Federal Reserve board.

Mr. Trump confirmed his plan on Twitter, labeling Mr. Moore a “very respected economist.”

“I have known Steve for a long time — and have no doubt he will be an outstanding choice!” he wrote.

The Federal Reserve is the central bank of the U.S. It is charged with promoting the stability of the economy and financial institutions, moderating interest rates and other tasks to avoid system shocks.

Mr. Trump has sparred with the bank and the policies of its chairman, Jerome Powell, saying rate hikes last year held back the economy. However, the bank has said it does not plan to raise rates this year.

Mr. Moore, who served as an economic adviser to Mr. Trump’s 2016 campaign, has been similarly critical of the bank under Mr. Powell.

An Illinois native, Mr. Moore created the Club for Growth — a pressure group that supports conservatives candidates — before leaving the organization in 2004 and serving on The Wall Street Journal’s editorial board, according to Heritage biography.

He is also a Washington Times columnist.

Last year, Mr. Moore co-authored a book on “Trumponomics” with Arthur Gaffer.

There are two vacancies on the seven-member board.

Mr. Trump reportedly has considered 2012 presidential candidate and businessman Herman Cain for one of the positions.

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