Controversial Fed nominee Judy Shelton remains short of the Senate votes needed to be confirmed.
A controversial nominee to be on the Federal Reserve board, Judy Shelton, remains short of the votes needed to be confirmed so far, a member of Senate Republican leadership said Tuesday.
Shelton’s nomination has attracted outsized attention for a central banking pick because she has a long record of advocating for some form of a gold standard, which would tie the value of the U.S. dollar to the price of gold. Setting interest rates and controlling the money supply are primary functions of the Fed board.
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