The U.S. Treasury Department has appointed Judy Shelton as an adviser to Treasury Secretary Scott Bessent, with the department saying she will advise him on monetary policy. Shelton is a longtime economist whose views have drawn political and policy controversy in Washington. Before joining the Treasury, she served as a senior fellow at the Independent Institute, a free-market think tank, and had also worked at Stanford University’s Hoover Institution. Her name is closely tied to a failed 2019 nomination by Donald Trump to serve on the Federal Reserve Board. That nomination did not win Senate approval after facing bipartisan opposition, including all Democratic senators and a small number of Republican senators. The debate around Shelton centered on three issues cited in the report: her views on Federal Reserve independence, her support for the gold standard, and her questioning of whether the United States needs a central bank. CNBC was cited as the source for the appointment.
The U.S. Treasury Department has appointed Judy Shelton as an adviser to Treasury Secretary Scott Bessent. The department said Shelton will advise Bessent on monetary policy.
Before joining the Treasury, Shelton was a senior fellow at the Independent Institute, which advocates free-market ideas. She also previously held a role at Stanford University’s Hoover Institution.
Shelton had earlier failed to win U.S. Senate confirmation for a seat on the Federal Reserve Board because of her controversial economic views. In 2019, Donald Trump nominated her to serve as a Fed governor, but the nomination ran into bipartisan opposition in the Senate, including all Democratic senators and a small number of Republican senators.
The controversy focused on three areas: her views on Federal Reserve independence, her support for the gold standard, and her questioning of whether the United States needs a central bank.
CNBC was cited as the source.
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