Judy Shelton, a Goldbug Who Bends to Fit Trump

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Judy Shelton, a Goldbug Who Bends to Fit Trump
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The Fed could benefit from fresh thinking that is grounded in evidence and free of political bias, WSJ columnist Greg Ip writes

Ever since the world left the gold standard, a die-hard band of goldbugs has demanded the U.S. return. President Trump just said he intends to nominate one of them, Judy Shelton, to be a Federal Reserve governor.

Mainstream economists consider the gold standard, which pegs a currency to a fixed amount of gold, impractical—and dangerous. That isn’t a strike against Ms. Shelton’s candidacy. Mainstream economists have no monopoly on the truth, and alternative viewpoints should improve central bank decisions. Alan Greenspan was...

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