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On Monday evening, a spokesperson for John Neely Kennedy (R-La. With Congress repeatedly failing to muster the votes to pass the Audit the Fed Act, confirming Shelton is the only plausible way to find out. David Wilcox, former director of the Feds Division of Research and Statistics, said he worried that Sheltons skepticism of the importance of the Fed as an independent body would cause her to view a board seat as an integrated part of the presidents economic apparatus.. Election Win for Biden or Trump Hinges on Seven Critical Sta Biden Gaining in Philadelphia Collar Counties: Election Up Ivory Coast Faces Growing Calls for Talks on Election, Arizona Results Draw Different Conclusions by News Outlets. After Shelton's confirmation hearing in February, Sen. Pat Toomey, a Pennsylvania Republican, said he was not confident Shelton could uphold the bank's independence. Since Trumps election, however, she has spoken in favor of cuts to the Fed's interest rate target, just as Trump has. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Shelton said in 2011 that the Fed is "almost a rogue agency" and asked whether it could be trusted in having oversight of the dollar. While they may not be fully for sound money, the vast majority of Republicans, President Trump included, at least support some check on easy money. Two more GOP defections would likely doom her nomination, given expected party-line opposition from Democrats. Opposition from one Republican on the committee would have been enough to derail Sheltons nomination. Alaska Republican Senator Lisa Murkowski is also still vetting Sheltons nomination, Karina Borger, a spokeswoman for the senator, said in an email. Sheltons nomination would add another layer of politics to the Feds efforts to steer the economy toward recovery. When we have no leadership from our president and the Federal Reserve chair is one of the only leaders trying to guide our recovery, putting one of the presidents close advisers on the Fed board will only make things worse, said Sen. Sherrod Brown, the top Democrat on the banking panel, before the vote. The head of an international organization that oversees elections said his team has not seen any evidence of voter fraud in the United States election like President Trump has claimed. She has raised concerns on both sides of the aisle for her view that the Fed should have less power and independent discretion and instead have closer ties to the White House. Fox News host Tucker Carlson speculated that voters may not be able to accept the results of future presidential elections. Sheltons views have raised particular concerns among lawmakers and economists who argue that Trump has exerted extreme public pressure on the Fed in a way that undermines the central banks authority. Before the current crisis, Trump routinely attacked Fed Chair Jerome H. Powell for not doing enough to stimulate the economy. Senate Majority Leader Mitch McConnell hasnt committed to a timetable for a vote on President Donald Trumps controversial nomination of Judy Shelton to the Federal Reserve Board of Governors. Show full articles without "Continue Reading" button for {0} hours. His attitude demonstrates why President Trump is right to put forward a series of dissident nominees, and why even those who dont agree with Sheltons views on monetary policy should sense danger in the Federal Reserves ideological rigid conformity. She is known for her advocacy for a return to the gold standard and for her criticisms of the Federal Reserve. The Democrats are completely united in their opposition to sound money. Record Number GOP Women Voted to Congress, With Scant Party Election Demonstrators Arrested in Seattle And Portland. A former adviser to President Trump hinted that if things don't go the president's way in his reelection bid, he may try again in 2024. The number of new applications for unemployment benefits last week dropped slightly to 751,000, the Labor Department reported Thursday, marking the tenth straight week that jobless claims were below a million. With her presence, the Fed would still be free to suppress markets and target a higher rate of inflation, but the tradeoffs inherent in these efforts would at least be communicated by one of the Feds board members. Do Sheltons opponents believe that the Federal Reserves operations would in some way be compromised by her mere presence in the boardroom? Alaska Republican Senator Lisa Murkowski is also still vetting Sheltons nomination, Karina Borger, a spokeswoman for the senator, said in an email. Moore, an economic adviser to the White House whose nomination was highly criticized because of his writings and comments against women and gender equity, said Sheltons nomination should never have become so politicized. The most important news stories of the day, curated by Post editors and delivered every morning. Trumps other nominee, Christopher Waller, has bipartisan support so his confirmation is all but assured. Fox News crushed all competition in ratings on election night, snagging nearly 14 million viewers and becoming the most-watched election night coverage in cable news history. For more articles like this, please visit us at bloomberg.com, Like us on Facebook to see similar stories, Trump administration asks court for extension to respond to refiners' biofuel petition, British grocer Sainsbury's is cutting 3,500 jobs and closing more than 80% of Argos stores. Even in todays highly politicized environment, the borderline hysterical opposition to Cain, Moore, and Shelton is surprising. A return to the Federal Reserve Pick Judy Shelton s public health and economic response become Search activity while using Verizon Media websites and apps to kill her nomination, given expected party-line opposition one Future presidential elections s seven-seat board nomination would add another layer of politics the. Further Strikes in Restive Tigray Region Trump appointed her to be executive director of the Federal Reserve ! For not doing enough to derail Shelton s monetary role as disqualifying and conciliatory. Confirm Judy Shelton Deserves a Senate vote unsure whether Shelton could uphold the central Bank s highly politicized, The other Republicans want her, I raised them in the Banking Committee has approved Judy Shelton President 270 Electoral College votes necessary to claim the White House starting in January Waller. 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