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N.Y. Sun: Did Fed Chairman Powell sabotage Shelton nomination?
From The New York Sun
Sunday, October 3, 2021
If President Biden nominates Jerome Powell for a second term as chairman of the Federal Reserve, the question for which we’ll be waiting is whether Mr. Powell tried to derail the nomination to the Fed’s board of Judy Shelton. President Trump had signaled his plan to nominate Ms. Shelton in July 2019. In a razor-thin vote in late 2020, though, Ms. Shelton was defeated when two Republicans voted “no” and one failed to show up at all.
It turns out that just before that vote, one of the most dramatic in the history of the Federal Reserve, Chairman Powell got on an extraordinary string of telephone calls with senators who could be key. We don’t yet know what was said on those calls (hence this editorial). The calls, though, were logged on the Fed Website. All the more reason that if Mr. Powell is renominated, at least one senator should ask what he was doing. ...
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