Is this the beginning of the second round of Republican resistance to President Trump’s slate of nominees for the Fed board of governors? Or just the latest example of Mitt Romney trying to sabotage Trump out of spite?
Or maybe he simply hates low interest rates?
Whatever the reason, the freshman senator from Utah is reportedly ‘undecided’ on whether he’ll back one of Trump’s two latest nominees for the two empty seats on the board of governors.
ROMNEY undecided on controversial Fed nominee Judy Shelton, colleague @NOgnanovich scoops. Calls her record, which includes calling for return to gold standard, “not terribly encouraging”
— Erik Wasson (@elwasson) February 11, 2020
Judy Shelton, known for her opposition to the Fed and support for the gold standard, has repeatedly spoken out against the Fed’s loose monetary policy. But like Stephen Moore before her, she has changed tack more recently to support President Trump’s agenda for the “non-partisan” and “apolitical” Fed.
Last year, we reminded readers about this in a post about gold’s reaction to the news of Shelton’s nomination that on April 21, Shelton published an op-ed in the Wall Street Journal entitled “The Case for Monetary Regime Change.” – READ MORE
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