Judy Shelton’s Friends Are Dooming Her Fed Nomination
She has forsaken many of her old economic views, but longtime supporters don’t think she believes what she’s saying.
The whole truth?
Photographer: Andrew Harrar/Bloomberg
Judy Shelton’s supporters are doing her no favors. She keeps saying the right things to join the board of the Federal Reserve. They keep suggesting she doesn’t mean any of it.
Before she became a top economic adviser to President Donald Trump, Shelton made a name for herself as an advocate of the gold standard and tight money. During Trump’s presidency, she has said she would like to bring interest rates down “as fast, as efficiently, as expeditiously as possible.” That new view aligns her with Trump, and surely helped secure her Fed nomination, which is pending before the Senate.