Trump's Fed Pick Vows Independence But Hits Turbulence

Law360 (February 13, 2020, 4:31 PM EST) -- President Donald Trump’s Federal Reserve Board nominee Judy Shelton on Thursday sought to assure senators that she’s not a monetary policy radical or opponent of central bank independence, but her efforts to defend her candidacy drew fresh criticism about the consistency of her views.

At a confirmation hearing before the Senate Banking Committee, Shelton stressed that she would not seek to return the U.S. dollar to a gold standard and believes political independence is vital for the Fed to maintain its credibility, distancing herself from controversial past writings that have fueled scrutiny of her record.

But Shelton’s performance failed to sway...

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