Updated at 1:24 p.m. ET

Stephen Moore, a Trump campaign adviser and conservative pundit, has withdrawn his name from consideration to serve on the Federal Reserve Board, President Trump said Thursday.

"Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process," Trump said in a tweet.

Moore came under criticism from lawmakers for past remarks and writings about women. Moore wrote that women should not be allowed to referee men's NCAA basketball games and that women earning more than men "could be disruptive to family stability."

Sen. Joni Ernst, R-Iowa, called Moore's past writings "ridiculous" and said she was "not enthused" about supporting him.

In an interview Thursday with Bloomberg News, Moore said he will "do what the president wants me to do. If he wants me to keep fighting, I'm going to keep fighting. If he thinks it's time to throw in the towel, I'll do that."

In March, Trump tweeted, "I have known Steve for a long time – and have no doubt he will be an outstanding choice!"

But the idea of putting Moore on the Fed prompted a strong backlash from many economists. "More than possibly any other economist in modern America, he has a track record of getting the big issues wrong," said Justin Wolfers of the University of Michigan. "Not just occasionally but time after time."

Opponents said Moore's partisan bent could hurt the Fed's reputation for independence.

Moore is the second of Trump's potential choices for the Fed to be withdrawn. Last month, the president said Herman Cain, a former Republican presidential candidate, had pulled out of contention for a Fed seat. Cain was known for his "9-9-9" tax plan, but dropped out of the 2012 GOP race after allegations that he sexually harassed women and cheated on his wife — allegations Cain denied.

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