The Fed Doesn’t Need This Kind of Disruption

Amid the chaos of the Trump administration, the U.S. Federal Reserve has stood out as an island of professionalism. Its policies aren’t always beyond reproach, but it responded quickly and competently to the shock delivered by the coronavirus pandemic and has remained focused on its mandate of promoting employment and stable prices.

If the Senate Banking Committee wants to keep it that way, it should think twice before confirming Judy Shelton’s nomination to the Fed’s Board of Governors.