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Senate GOP Rubberstamps Fed Board Nominee Judy Shelton

By Jacob Wolinsky. Originally published at ValueWalk.

Judy Shelton coronavirus stimulus checks package, trump, payroll tax cut, McConnell, liability protection

Despite Concerns, Senate GOP Rubberstamp Trump‘s Extreme Fed Board Nominee Judy Shelton


Q2 2020 hedge fund letters, conferences and more

Senate GOP Advances Judy Shelton’s Nomination

WASHINGTON, D.C. – After previously expressing concerns over the fringe-right views held by Trump Fed Board nominee Judy Shelton, Republican members of the Senate Banking Committee predictably fell in line and unanimously advanced her nomination today. Shelton doesn’t just want to return to the gold standard, an idea roundly panned by respected economists.

Judy Shelton has suggested holding an international summit on monetary policy at Trump’s Mar-a-Lago golf resort, an Emoluments Clause-flouting arrangement that would once again come at U.S. taxpayers’ expense. Shelton wants to privatize the Postal Service to the detriment of rural America and also once exclaimed that she is “tired of the criticism… even among Republicans” that “Wall Street greed, or predatory lending” led to the financial crisis.

“Conservative committee members pulled a ‘Susan Collins’ today: after voicing concerns over the latest extreme Trump nominee, they voted for her anyways,” said Jeremy Funk, spokesman for Accountable.US. “It’s now on the rest of the Senate to recognize the folly of allowing someone obsessed with returning to the gold standard to oversee the nation’s monetary policy — and someone who’s already cooked up ways to put money directly into President Trump’s pocket.

Someone who believes Wall Street and predatory lenders were totally blameless for the financial crisis that leveled the economy in 2009 would not be a reasonable voice advising the Fed Chair during the current recession. The full Senate should immediately reject the Shelton nomination.”

What You Need To Know:

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