In tapping Judy Shelton to become one of two Federal Reserve Board governors, President Donald Trump selected one of the minority of mainstream economists supportive of a return to the gold standard and critical of central bank activity.
President Donald Trump tweeted on Tuesday his intention to nominate Judy Shelton and St. Louis Fed economist Christopher Waller as Federal Reserve Board governors.
Judy Shelton, U.S. executive director for the European Bank for Reconstruction and Development, stands for a photograph.In tapping Judy Shelton to become one of two Federal Reserve Board governors, Presidentselected one of the minority of mainstream economists supportive of a return to the gold standard and critical of central bank activity.
Shelton's unorthodox monetary beliefs will likely draw questions from Senate lawmakers, who will ultimately need to approve Shelton and Waller to the Fed board. "In proposing a new international monetary system linked in some way to gold, America has an opportunity to secure continued prominence in global monetary affairs."
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