Read on Twitter
The U.S. Senate banking committee is about to advance Trump's controversial Fed nominee #JudyShelton.
Here's why Democrats and some Republicans oppose her 1/... https://reut.rs/32FJ0ac
Here's why Democrats and some Republicans oppose her 1/... https://reut.rs/32FJ0ac
She called for a return to the "gold standard," as recently as 2018, an idea dismissed by most economists as a folly that would crash any modern economy https://www.cato.org/cato-journal/springsummer-2018/case-new-international-monetary-system
She has slammed the Fed's managing of the US economy through its massive balance sheet as distorting financial markets and “largely benefiting people who have hefty stock-market portfolios.” (Any changes to this management would roil stock markets). https://www.reuters.com/article/us-usa-fed-shelton/off-the-qt-does-fed-nominee-judy-shelton-have-a-balance-sheet-problem-idUSKBN2071BR
She walked back several previous positions in her Feb. Senate hearing, drawing concern from GOP and DEMs alike https://www.reuters.com/article/us-usa-fed-nominees/trump-fed-nominee-shelton-hits-bipartisan-skepticism-in-senate-hearing-idUSKBN20724B
...including backtracking on "a common North American currency with Canada and Mexico" and apologizing "for comparing a currency forger’s challenge of the federal government’s dominance over money to civil rights pioneer Rosa Parks’ challenge of segregation laws."
An underlying concern is how independent Shelton will be from Trump. As one of his 2016 campaign advisers, she helped craft his tax & spending cut-based economic plan.
Here she is in 2016, discussing how the US could get to +3% GDP growth with @rob1cox https://soundcloud.com/reuters/the-exchange-judy-shelton
Here she is in 2016, discussing how the US could get to +3% GDP growth with @rob1cox https://soundcloud.com/reuters/the-exchange-judy-shelton
