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Senate Takes First Step to Vote on Shelton Fed Confirmation

  • Alaska Republican Murkowski backs Shelton for Fed board spot
  • Shelton has drawn criticism for controversial views in past
Judy Shelton
Judy SheltonPhotographer: Andrew Harrer/Bloomberg
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Judy Shelton’s nomination to the Federal Reserve Board of Governors gained new life on Thursday as Senate Majority Leader Mitch McConnell moved to set up a confirmation vote as early as next week, after a yearlong delay that raised doubts about whether she would be approved.

Shelton is one of two of President Donald Trump’s Fed nominees pending in the Senate. If she and Trump’s other pick, Christopher Waller, are confirmed, the outgoing president would have placed five of seven members on the U.S. central bank’s board. He also elevated Jerome Powell as chairman.