The day also advance Christopher Waller
The Senate panel has advanced Judy Sheldon nomination for Fed board. They also advanced Christopher Waller as well. Both need to earn a simple majority from the Senate to gain access to the FOMC board. As such they have permanent voting rights at each FOMC meeting. Mr. Waller is the research director at the Federal Reserve Bank of St. Louis.
Recall that Ms Shelton's nomination was criticized because she flip-flopped on key policy positions after Pres. Trump was elected. She quickly moved from supporting higher interest rates to favoring lower ones in line with the presence view. Is also thought that Pres. Trump might elevate her to the role of Fed chair and be more of a puppet for his policies. Since that time the Fed has warmed to Chairman Powell especially since the slashed interest rates in response to the coronavirus. If she is approved, she would fill the seat that belong to Janet Yellen. That's the expires in 2024.
Mr. Waller would be filling the seat held by former FOMC member Raskin. That term would expire in 2030
