Shelton gets little respite in Fed nomination hearing


Federal Reserve board of governors nominee Judy Shelton received little sympathy from Congress in her February 13 nomination hearing, as she sought to defend her views on monetary policy, central bank independence and exchange rate systems. 

Lawmakers raised concerns about her lifetime of writings arguing for a “level monetary playing field” based on a commodity-based monetary system. Some were also worried about her more recent work defending an approach for using monetary policy to influence

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