Fed Board Member Appointment Stalled in Senate

The appointment of the controversial nominee to the Fed’s Board of Governors, nominated by President Donald Trump, has stalled in the Senate after Vice President-elect Kamala Harris returned to the House to cast a key vote.

Judy Shelton’s appointment is in limbo after several Republican senators skipped the count over COVID-19 issues.

Shelton is rather harsh about the Fed, and three Republican senators have opposed her candidacy.

She was also opposed by Senate Democrats and many former Fed officials, who pointed to her past support for the gold standard and her work in which she questioned the Fed’s political independence.

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