Trump Fed pick Judy Shelton questions the central bank’s independence

Shelton has been nominated by US President Trump for the Board of Governors at the Federal Reserve.

Bloomberg carries a report on Shelton expressing doubts that the Fed needs to be independent.

• "I don't see any reference to independence in the legislation that has defined the role of the Federal Reserve for the United States," Shelton told Siegenthaler, according to a transcript of the interview.

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Central bank independence from political interference is a bedrock. Casting doubts upon it has the potential to rattle markets.