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Senate prepares to vote on Trump Fed board nominee Judy Shelton
By James Politi
Financial Times, London
Thursday, November 12, 2020
WASHINGTON -- The U.S. Senate is preparing to vote as early as next week to confirm Judy Shelton, Donald Trump's nominee to the Federal Reserve board and a fierce critic of the U.S. central bank.
John Cornyn, the Texas senator and second highest-ranking Republican in the upper chamber, told reporters about the vote today. Mitch McConnell also filed for cloture on Shelton's nomination, taking a first procedural step toward a final vote in the coming days.
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Shelton has long been considered a controversial choice for the Fed board because of her staunch loyalty to Trump, which has called into question her independence, as well as her sympathy for the gold standard. She also compared the Fed's role in setting monetary policy to the Soviet Union's economic planning. ...
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