Senate blocks confirmation of Trump Fed nominee Shelton
Reuters Staff | November 17, 2020 3:41 PM(Reuters) - The U.S. Senate on Tuesday blocked President Donald Trump’s nomination of Judy Shelton to the board of the Federal Reserve, making her the latest in a string of failed nominees to the central bank.
Trump’s Republican Party has a 53-47 majority in the current Senate, but several were absent, including two who were quarantining due to exposure to COVID-19, and others joined Democrats in voting ‘no’ in the so-called cloture vote.
The vote was 47 to 50 with Senate Majority Leader Mitch McConnell voting ‘no’ to preserve the option to reconsider later.
Shelton, an adviser to Trump’s 2016 presidential campaign who has argued the nation would be better off returning to the gold standard, as recently as 2017 criticized the Fed’s power over money and financial markets as “quite unhealthy.†During her Senate confirmation process, she called the Fed’s bond-buying and zero rates in the last crisis “extreme.â€https://www.reuters.com/article/usa-fed-shelton/update-1-u-s-senate-blocks-confirmation-of-trump-fed-nominee-shelton-idUSL1N2I32GD
The Establishment wins another one. I would like to know who the GOP sellouts were.
