, Columnist
Judy Shelton Would Destroy Trump’s Pro-Worker Legacy
The president deserves a Fed governor who will work to preserve his economic gains.
Not what U.S. workers or their president need.
Photographer: Andrew Harrer/Bloomberg via Getty Images
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Despite some unorthodox and occasionally disconcerting rhetoric, President Donald Trump has mostly succeeded in making both his party and the Federal Reserve more attentive to the needs of the working class. If Judy Shelton is confirmed to the bank’s board of governors, that progress would be at risk.
It’s worth stepping back and looking at what Republican monetary policy was before Trump. After the Great Recession, congressional Republicans were obsessed with maintaining the strength of the dollar in general and monitoring the price of gold in particular.