scorecardThe gold standard, near-zero interest rates, less central bank independence: Trump's latest Fed pick backs unusual economic policies
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The gold standard, near-zero interest rates, less central bank independence: Trump's latest Fed pick backs unusual economic policies

Gina Heeb   

The gold standard, near-zero interest rates, less central bank independence: Trump's latest Fed pick backs unusual economic policies
Stock Market1 min read
Judy Shelton

CNBC

  • President Donald Trump last week officially nominated former White House economic adviser Judy Shelton for a powerful position at the Federal Reserve.
  • That put her on track to shape policy alongside central bankers whose mainstream views she has long objected to.
  • The nominee for the Fed Board of Governors has for years advocated for highly unconventional economic theories and policies.
  • Visit Business Insider's homepage for more stories.

President Donald Trump last week officially tapped former White House economic adviser Judy Shelton for a powerful position at the Federal Reserve, putting her on track to shape policy alongside central bankers whose mainstream views she has long objected to.

Shelton has instead advocated for highly unconventional economic theories and policies, ranging from the gold standard to a less independent central bank. Her nomination to the Board of Governors has drawn scrutiny from economists and lawmakers, including the senator and presidential hopeful Elizabeth Warren.

It's unclear how the controversy will play out during a confirmation hearing in the GOP-controlled Senate, which could come as early as February. Asked about the nomination, the 13 Republicans on the Senate Banking Committee either declined to comment to Business Insider or did not respond to multiple email inquiries.

Shelton did not return requests for comment but was interviewed by Business Insider in June. Here's where she stands on key economic issues.




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