Collins Is Second Republican to Oppose Shelton’s Fed Nomination
Bloomberg
Published Jul 27, 2020 19:03
Updated Jul 27, 2020 19:27
(Bloomberg) -- Maine’s Susan Collins became the second Republican senator to announce opposition to President Donald Trump’s nomination of economist Judy Shelton to the Federal Reserve’s Board of Governors.
“Ms. Shelton has openly called for the Federal Reserve to be less independent of the political branches, and has even questioned the need for a central bank,” Collins said in a statement Monday. “This is not the right signal to send, particularly in the midst of the pandemic, and for that reason, I intend to vote against her nomination if it reaches the floor.”
Utah Senator Mitt Romney said last week he would vote against Shelton on the Senate floor. If two more Republicans join them, Shelton would be blocked from joining the Fed.
On July 21 the Senate Banking Committee cleared Shelton’s nomination after a delay of more than a year.
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