38 Federal Reserve alumni urge Senate to reject Shelton.
A total of 38 Federal Reserve alumni have sent a letter to senders urging them to reject Judy Shelton as a member of the board of governors. Shelton name was initially entered as candidate, but quickly removed her name as a candidate after opposition from the Senate Banking Committee.
However, her name was brought up at committee recently and a vote in July passed and cleared her to the next stage where she needs a majority vote in the Senate. Two senators have already expressed that they would vote against her nomination.
The Fed alumni argue that Shelton is incapable of leaving politics at the door.
They add:
"Ms Shelton has 8 decades-long record of writings and statements that call into question her fitness for a spot on the Fed support of Governors", adding "Ms. Shelton's views are so extreme and ill considered has to be an unnecessary distraction from the tasks at hand"
