Trump Fed nominee Shelton faces more difficult road to confirmation

(Reuters) – Judy Shelton, Republican President Donald Trump’s contentious pick to fill a vacant seat at the Federal Reserve, faced a more difficult road to confirmation as the U.S. Senate adjourned on Wednesday until after Thanksgiving.

On Tuesday, the Republican-controlled Senate failed to muster the required votes to move her nomination ahead in the confirmation process.

That was in part because a couple of Republicans joined Democrats in opposing Trump’s former economic adviser out of concern her perceived partisanship could imperil the Fed’s independence. In addition, two other Republicans had to skip the vote because they were quarantining due to the coronavirus.

Shelton has come under fire for inconsistent, controversial views, including an embrace of the gold standard and a shifting stance on interest rates as control of the White House passed from Democrat Barack Obama to Trump. Reuters News

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