Controversial Trump Fed Nominee May Be Confirmed After All

(Politico) Judy Shelton’s nomination to the Federal Reserve isn’t dead yet. In fact, it’s showing new signs of life.

After absorbing a number of body blows at her confirmation hearing over her support for the gold standard and past writings, Shelton picked up the vote of Sen. Patrick Toomey (R-Pa.) this week and is on the verge of winning the support of Sen. Richard Shelby (R-Ala.), another potential skeptic.

Shelby said his starting point is that he would “like to help the administration.”

“If the committee wants the majority of the committee to support her, I would do it too. She wouldn’t be my No. 1 choice,” Shelby said on Thursday afternoon.

Asked if that meant he would vote for her, he responded cryptically.

“I could. But I haven’t said it yet,” Shelby said. “I never said I’d vote against her. I raised concerns about her and I think those were legitimate concerns, the question of whether she’s a mainstream economist or was she an outlier?”

Sen. John Kennedy (R-La.) is also undecided and Republicans have only a one-seat advantage on the committee. But with Sen. Elizabeth Warren (D-Mass.), a member of the committee running for president and generally on the road, Shelton could in theory pass through committee with even a Republican “no” vote…

A committee vote could come in the next month, according to a Republican aide, although no final decision has been made. Sens. Bernie Sanders (I-Vt.) and Amy Klobuchar (D-Minn.) could also be on the campaign trail during the vote, giving the 53-seat GOP majority even more of a cushion.

[Read more…]


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