Warren raises 'significant concerns' in letter to Trump's Fed pick Shelton

Section:

By Ann Saphir
Reuters
Friday, January 31, 2020

SAN FRANCISCO -- U.S. Sen. Elizabeth Warren today released a letter she sent to economist Judy Shelton, one of President Donald Trump's two planned nominees for seats on the Federal Reserve, raising "significant concerns" and posing a series of questions about her views.

Warren is among those vying to be the Democrat selected to take on Trump in the U.S. presidential elections in November. Polling for primaries kicks off Monday with caucuses held in Iowa, with other states holding their contests in coming months.

... Dispatch continues below ...



ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/



Shelton, Warren wrote in the letter citing the former Trump adviser's own writings among others, has made a number of "radical" statements on economic policy, including her embrace as recently as 2012 of the gold standard as a better path to the price stability and full employment that are the Fed's mandates.

"While you have downplayed that position since your nomination was announced, I'm concerned that your change of heart reflects a political calculation rather than a true evolution in your thinking," wrote Warren, one of 12 Democrats on the Republican-dominated Senate banking committee, the first stop for any Fed nominee seeking the necessary Senate approval.

Warren asked Shelton to clarify her views on the gold standard, along with a number of other questions, including whether she believes the Fed should defer to the president's wishes should that person's views on how to achieve a certain goal differ from those of the Fed. Trump has been a fierce critic of the Fed for not delivering the steep rate cuts that he believes the economy needs.

Shelton in an opinion piece in The Wall Street Journal last year called for the Fed to coordinate with the president and Congress on policy.

Shelton did not immediately respond to a request for comment from Reuters.

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651...

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Join GATA here:

Mining Investment Asia
InterContinental Hotel, Singapore
Tuesday-Thursday, March 17-19, 2020
https://www.mininginvestmentasia.com/

Mines and Money Asia
Conrad Hotel, Hong Kong
Tuesday-Wednesday, March 31-April 1, 2020
https://asia.minesandmoney.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16