First Sens. Mitt Romney and Susan Collins publicly announced their opposition to President Donald Trump’s nomination of Dr. Judy Shelton to the Federal Reserve Board of Governors.
Shelton’s nomination appeared to stall before Senate Majority Leader Mitch McConnell announced last Thursday that Shelton would receive a vote after Alaska Republican Lisa Murkowski indicated she’d vote for Dr. Shelton.
However, retiring Sen. Lamar Alexander (R-TN) came out against Dr. Shelton earlier today, putting her confirmation on a knife’s edge.
The Washington Post’s Rachel Siegel and Seung Min Kim report:
“I oppose the nomination of Judy Shelton because I am not convinced that she supports the independence of the Federal Reserve Board as much as I believe the Board of Governors should,” Alexander said in a statement to the Washington Post. “I don’t want to turn over management of the money supply to a Congress and a President who can’t balance the federal budget.”
Shelton’s nomination to the Fed board has been controversial from the start. In her past writings and remarks, Shelton has said the Fed harnesses too much power and should be reined in. Shelton, who advised Trump’s 2016 presidential run, has also caused lawmakers to question her commitment to the Fed’s independence from the White House, a core part of the central bank’s reputation and authority. She has also been outspoken against the Fed as an institution.
Before the coronavirus pandemic thrust the economy into a sudden recession, Shelton altered some of her views to appear in closer agreement with Trump’s aggressive push for lower interest rates. On policy, Shelton has also called for a return to the long-abandoned gold standard, which the nation fully abandoned in 1971.
There’s widespread agreement that the Fed’s seven-seat board benefits from a range of perspectives and opinions. But Shelton’s critics say her views make her too much of an outlier to set monetary policy at the central bank, and that the stakes are especially high as the economy fights its way out of the covid crisis.
It’s unclear if Vice President Mike Pence will have to break a 50-50 tie in the U.S. Senate.
These RINOs do not understand or are part of the corruption of the Federal Reserve System! It is owned by international bankers not Americans! They refuse to be audited and they refuse to tell us to whom they are loaning our money. And, they take our tax dollars give them free to the big corrupt drug laundering, Wall Street dealers who caused the housing bubble and the last financial crisis, and the print, or now use digital money to loan back to us to put us in debt. They charge 0% to the big banks who then make big profits on loaning our own money to us. FEDS need to be controlled and audited by Americans!! Trump is nominating someone who will be open and transparent in her position and the Feds don’t want that, nor do the globalists or Big Banks!
You said this perfectly.
eggsactly! She definitely needs to be nominated to put the world back on The Gold Standard!
Your just a Sorry Democrat that just Hates TRUMP STFU ok
I have become disgusted with the RINO’s backstabbing the president. Only wish there was a Conservative Party I could register as rather than republican since it seems my values are of no meaning to the Republican Party.
I feel the same as you. I’m pretty disappointed in the lack luster performance of the Republican party. They could do a lot more to defend our President, Donald Trump.
Find a working Tea Party Group and help out. Thanks.
ALL THE RAT REPUBLICANS WHO DID THIS TO OUR PRESIDENT CAN KISS THEIR POLITICAL CAREERS GOODBYE!!!
Please don’t forget about the others of the Turncoat 7 listed in my post above.
Spot on Rose! Let’s primary the SOBs for their treachery.
Isn’t it time the republicans kicked these two turncoats out of the party. Let them flounder without backing. Its what they deserve
i sent collins funds cuzshe voted for kavansugh. but she is a ratfink rino and a whiny superannuated femenist
So Lamar what have you done about the continually rising rising debt?!
Sir you are part of the problem….
he is an impotent spiteful old queen
Many Republicans opposed her nomination when it first came out–that’s why McConnell didn’t put it up for a vote. THenominee is a bit of crank–gold standard and all that. You have to stop looking at everything as a friggin’ loyalty test.
Didn’t Alexander Hamilton say we shouldn’t have a central bank?
If Romney, Collins, and a retiree are against her she must be fantastic! Lol!
I bet if we removed all the wishes in the Democrats wish list we’d be fine financially. I don’t think we need to fund some of the Dems things they want funded just so they can play big shots in a world where they think people like themselves are cool and what all people want. No one ever says thank you to Trump for the all the money he’s collected in tariffs and making other country’s take care of their own. I pray Trump gets this next term because we can’t afford to have the Dems take hold of America’s checkbook where the Dems can just right a check out to whoever will make them feel important.
Indeed, how quickly they forget that the only way Trump could get dems to back an incentive was to add ridiculous and unnecessary spending on their pet projects. They couldn’t have cared less about struggling citizens but let’s dole out funds to criminals, terrorists, etc. I don’t know how most of them can look at themselves in their mirrors each morning.
Not sure if you’ve ever gone onto http://www.heritagefoundation.org but the things that the Dems want funded are ridiculous and needs to change. But I do have to say the Republicans have some stupid things also that they were funding and I’m talking about before Trump got into office.
The Fed should be disbanded and shut down anyway.
TO YOU DAMN REP WHO WALK A THIN LINE –WATCH IT YOU MAY BE NEXT TO BE VOTED OUT OF OFFICE.. WE THE PEOPLE ARE NOT GOING OT PUT UP WITH ANY MORE SPINELESS IDOTS WHO CAN’T SEE WHAT TRUMP IS TRYING LTO ACCOMPLISH AND IF ANY OF YOU BLOW IT FOR US. COUNT ON YOU WILL BE NEXT CHECKED OFF THE VOTING FORM. YOU ELITE WHO THINK WE CAN’T REMOVE YOU THINK AGAIN. YOU WORK FOR US NOT FOR THE DEMS OR THE ONES HIDING BEHIND THE CURTAIN. LIKE THE LOBBYIEST WE ARE WATCHING EVERYTHIGN RIGHT NOW COUNT ON IT IF YOU MAKETHE WRONG MOVE ON US AND WE SEE IT IT WILL BE A GOOD BYE FORM THE PEOPLE.
!!!!!!!!
well what I think is that the federal reserve should be put back under control of government instead of being independent and free to do as they chose
All RINOs; not a real Republican among the 3. Both Collins and Alexander were members of the Turncoat 7, who voted with Democrats to preserve Obamacare. The others were Murkowski, Capito, McCain (gone), Heller (gone) and Portman.
These guys aren’t “Republicans” — they are wolves in sheep’s clothing; weak “conservatives” who go with leftist ideas because they haven’t a clue as to how vicious and depraved these communists/socialists really are…/
She will be an asset in the future as Gold is far more stable than the petrodollar and the fed is a privately owned bank , of the Rothchild’s who constantly manipulate currencies whilst enriching themselves. The feds belong to the Globalists and it makes me scratch my head about Susan Collins? Mitt Romney has shares in the defunct China Dominion machines so you can guess where his loyalties lie! And the same corrupt individuals with shares in Dominion, are in with the corrupt Covid testing machines! Oh boy they are all going down!
Another Wilson institution that needs to be put back under the Constution!
these 3 rhinos need to go totally worthless
The Fed is just more stench emanating from the swamp and should never have existed to begin with.
Easy Peasy, just END the fed, it has NOTHING to do with the government, is PRIVATELY owned and there is nothing FEDERAL about it!
See how quick the Sorry Congressman Lamar Is retiring and now he comes out against DR, Shelton Confirmation for the federal reserve Board . lama is Older that Dirt and is a Traitor to the Republicans in America . He cant retire quick enough to suit the hard working Voters in America i Hope he moves to Canada. he was worthless in congress anyway . Please SET up TERM limits to keep theses old farts From Homesteading in congress till they get Rich Such as Pelosi Grassley Biden 47 years living off of Tax payers money . I am so sad for America if Biden really gets to be president . just because he and his BLONDE Affair Wife . wants to be called the first lady . LADY she is not
God will judge Lamar Alexander. His voting record shows he is more of a leftist Democrat than a Republican. He will answer as Matthew 12:36 says. So why does he want the FEDERAL RESERVE to be independent. They now answer to NO ONE. And that is just not right. Alexander is a traitor to Americans.