Senate Banking Panel Advances Trump's Latest Fed Nominees

Law360 (July 21, 2020, 6:03 PM EDT) -- President Donald Trump came one step closer on Tuesday to filling the remaining two vacancies on the Federal Reserve Board, as the Senate Banking Committee voted to advance his selections of a regional Fed official and a controversial economist for the central bank's governing body.

The committee sent to the full Senate the nominations of Christopher Waller, director of research at the St. Louis Fed, and Judy Shelton, who was once an economic adviser on Trump's 2016 campaign, to serve on the Fed's seven-member Board of Governors, which already has four Trump appointees.

Waller easily cleared the committee on an 18-7...

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