Judy Shelton: Trump's controversial pick
Senate Republican leaders don’t yet have 51 votes to confirm President Trump’s controversial pick to the Federal Reserve, Judy Shelton, whose nomination is facing strong opposition from prominent economists.
Senate Republican Whip John Thune (S.D.) said Tuesday that the leadership is still “working” on mustering majority support for Shelton, who has come under criticism for her past support for returning to the gold standard.
Thune raised the possibility that Shelton may not come to the floor before Election Day, which means her nomination would be in jeopardy if Trump doesn’t win reelection.
Asked if Shelton would receive a vote before the Senate recesses for the election, Thune said: “We’ll see — as soon as she has 51 votes.”
“We’re still working it,” he said. “She’s a priority for the White House. It’s a Federal Reserve [position,] it’s important. So obviously we want to get it done but we’re not going to bring it up until we have the votes to confirm [her.]”
Shelton’s nomination to the Federal Reserve, which sets monetary policy for the nation, has faced Republican opposition since Trump announced the pick in January.
Sen. Mitt Romney (R-Utah) announced in July he would oppose Shelton’s nomination.
“I will be voting against her,” he said July 23.
Sen. Susan Collins (R-Maine), who faces a tough reelection race this fall, announced in July that she too would oppose Shelton.
“I have serious concerns about this nomination,” she said in a statement July 27.
Collins criticized Shelton for calling for the Federal Reserve to be less independent of the White House and Congress.
Senate Republicans control 53 Senate seats and cannot afford any more than three defections. Vice President Pence could break a 50-50 tie to confirm Shelton.
A group of more than 100 prominent economists signed a letter last month urging senators to vote against Shelton, citing what they called her “extreme and ill-considered” views on monetary and economic policy. The list included seven Nobel laureates.
Republicans on the Senate Banking Committee including Sens. Pat Toomey (Pa.) and Richard Shelby (Ala.) raised concerns earlier this year about Shelton’s past support for devaluing the dollar to encourage exports or returning to the gold standard.
Toomey warned in February that devaluing currencies to increase exports is “a very, very dangerous path to go down,” but later announced he would support Shelton after she provided him assurances in writing.
Shelton promised she would oppose using monetary policy to weaken the dollar and that doing so is not in the Fed’s direct purview.
Fed warnings on economy fail to resonate with Congress
House GOP slated to unveil agenda ahead of election
Sen. John Kennedy (R-La.), another member of the Banking panel, held up Shelton’s nomination for weeks to study her record.
Despite their concerns, all 13 Republicans on the Banking Committee voted to advance Shelton’s nomination in a party-line vote in late July.
Senate aides familiar with the nomination say that National Economic Council Director Larry Kudlow has championed Shelton’s nomination but that it doesn’t have much support from within the Federal Reserve.
Donald Trump’s former campaign manager Brad Parscale has been hospitalised after he threatened to harm himself, according to Florida police and campaign officials. Police were called to the home in Desota Drive in the Seven Isles community of Fort Lauderdale, Florida, late on Sunday afternoon. The home is owned by Bradley and Candice Parscale.
The publication of Donald Trump’s records by the New York Times is one of the biggest bombshells to hit an unprecedented 2020 election campaign already been hit by a litany of scandals, a bitter fight over a supreme court nomination and a pandemic in which 7m Americans have been infected and more than 200,000 have died, during a bungled federal response.
Donald Trump, a self-proclaimed billionaire, paid only $750 in federal income taxes in the year he was elected US president, according to a stunning New York Times investigation that could shake up the presidential election.
Donald Trump’s niece followed up her best-selling, tell-all book with a lawsuit Thursday alleging that the president and two of his siblings cheated her out of millions of dollars over several decades while squeezing her out of the family business. Mary L. Trump sought unspecified damages in the lawsuit, filed in a state court in New York City.