Finance

Trump Fed nominee Judy Shelton hammered by Dems at confirmation hearing

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Federal Reserve nominee Judy Shelton faced a blistering confirmation hearing Thursday, as senators grilled her over her views on central bank independence, the gold standard and whether the money that people deposit at banks should be insured.

Facing a barrage of criticism over multiple statements she has made over the years, Shelton defended herself as an “outside the box” thinker who would bring her own experience and ideas to the Fed.

“I would look very much forward to working with my colleagues at the Federal Reserve,” she said in response to a question from Republican Sen. Richard Shelby of Alabama on whether she is “an outlier” and “not mainstream” in her thinking. “I have great respect for their capabilities and for their judgment. I think I would bring my own perspective. But I think the intellectual diversity strengthens the discussion and would be welcome.”

Judy Shelton, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, swears in to a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Feb. 13, 2020.

Andrew Harrer | Bloomberg | Getty…



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https://www.cnbc.com/2020/02/13/trump-fed-nominee-judy-shelton-hammered-by-democrats-in-confirmation-hearing.html

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