WASHINGTON, D.C. More than 11 million Americans remain out of work. The pandemic that has already cost over 240,000 U.S. lives is raging across the country. Yet the McConnell-led Senate is choosing to use precious time in the lame duck session to consider outgoing President Trump’s extreme nominee for the Federal Reserve Board, Judy Shelton. Despite a number of Republican senators previously voicing concern over Shelton’s fringe views like returning to the outdated gold standard — an idea roundly panned by respected economists — Shelton is now on an all be certain path to overseeing the nation’s monetary policy during a deep recession.  

The McConnell Senate is poised to rubberstamp Shelton’s nomination despite her outrageous suggestion to hold an international summit on monetary policy at Trump’s Mar-a-Lago golf resort, a taxpayer-costing arrangement that could have violated the Emoluments Clause. Shelton also once exclaimed that she is “tired of the criticism… even among Republicans” that “Wall Street greed, or predatory lending” led to the 2008 financial crisis. Shelton even advocated ending federal deposit insurance, which would put American’s hard-earned money at risk to bank failures.  

“Gold-standard obsessed Judy Shelton actually believes Wall Street and predatory lenders were blameless for the financial crisis that gave us the Great Recession. Hers would not be a reasonable voice advising the Fed Chair during the current recession, yet the McConnell-led Senate has decided to treat this reckless nomination like a consolation prize for the fired president,” said Jeremy Funk, spokesman for Accountable.US. “The same Senator McConnell who once demanded to “give the people a voice” now wants to jam through a controversial nominee of a one-term president during the lame duck. The Senate should leave all nominations for the next president and start focusing on the heath and economic crises they have ignored for months.”  



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