Judy Lynn Shelton is an American economic advisor to President Donald Trump. She is known for her advocacy for a return to the gold standard and for her criticisms of the Federal Reserve. During the Obama presidency, she advocated for a tight monetary policy, but flip-flopped on that position during Trump’s presidency.
About Judy Shelton in brief
Judy Lynn Shelton is an American economic advisor to President Donald Trump. She is known for her advocacy for a return to the gold standard and for her criticisms of the Federal Reserve. During the Obama presidency, she advocated for a tight monetary policy, but flip-flopped on that position during Trump’s presidency. Trump announced on July 2, 2019, that he would nominate Shelton to the Fed. Her nomination stalled on November 17, 2020, with a 47–50 vote in the Senate, with the possibility of being retried by Majority Leader Mitch McConnell after the Thanksgiving recess. More than 100 economists, including seven Nobel laureates, signed a letter opposing her confirmation, saying her views were ‘extreme and ill-considered’ She ultimately could not retain enough Republican support after senators Rick Scott and Chuck Grassley were absent due to exposure of COVID-19, and two present Republicans voted against and one absent one did not support her.
In 2012, Shelton joined TheGoldStandardNow. Org as a senior advisor. In March 2018, she was confirmed by the U.S. Senate as the United States director of the European Bank for Reconstruction and Development. She was absent for 12 of 28 board meetings during her tenure. In a video interview with The Atlas Network, she described currency counterfeiter Bernard von NotHaus as ‘the Rosa Parks of monetary policy’ Shelton describes herself as ‘highly skeptical’ of the Fed’s dual mandate of maximum employment and price stability.
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