Senate Blocks Judy Shelton's Nomination to Federal Reserve Board

On Tuesday, the US Senate blocked Judy Shelton's appointment to the Federal Reserve Board. In 2016, Shelton was a campaign adviser to Donald Trump and her name was the first on the Federal Reserve Board list. However, Shelton’s nomination stalled in the Senate after a 47-50 vote against her placement in the Fed’s Board.

Romney and Collins Join the Dems

Shelton’s nomination fell dead in the Senate after Republicans Mitt Romney and Susan Collins joined the Democrats. Furthermore, Senators Rick Scott and Chuck Grassley, both backers of Shelton’s nomination, were unable to cast their votes. 

Following Judy Shelton's repulse, Senate Majority Leader Mitch McConnell immediately set the foundations for a new potential vote in hopes that Sens. Scott and Grassley’s votes are accounted for. Nevertheless, even if the two Republicans go back to the chamber, GOP votes may not be enough to overturn the outcome. 

Judy Shelton's nomination was considered controversial by some Democrats due to her economic views. Apart from questioning the mission of the central bank, Shelton supported the gold standard that would set high boundaries to the amount of circulating money.