Trump’s Pick for Federal Reserve Drawing Bipartisan Backlash

President Trump’s pick for a seat on the Federal Reserve Board is drawing criticism from both sides of the aisle.

The bipartisan criticism is rare.

According to The Hill:

Senators in both parties voiced deep concerns Thursday about one of President Trump’s picks to serve on the Federal Reserve Board, raising doubts about the nominee’s ability to win confirmation.

Republicans and Democrats on the Senate Banking Committee questioned whether Judy Shelton, a former Trump campaign adviser, should be considered for the Fed governor post given her controversial views on central bank independence, the gold standard and core tenets of economic policy.

But senators across the ideological spectrum made clear that Shelton’s explanation of her lengthy paper trail did little to soothe their concerns.

“If you were on the Fed, how would you work with the other members?” asked Sen. Richard Shelby (Ala.), the senior Republican on the Banking panel. “Could you work with them with the goal of price stability and full employment, or would you really be an outlier?”

Shelton made clear that she does not claim to be a mainstream economist and those views will help bolster the discussion at the Federal Reserve.


Add a Comment

Your email address will not be published. Required fields are marked *