Tuesday, July 28, 2020

Rand Paul to Vote in Favor of Fed Board Nominee Judy Shelton

Judy Shelton
Judy Shelton is going to be one interesting character if she makes it on to the Board of the Federal Reserve.

She simultaneously appears somewhat in favor of a gold standard but at the same time is in favor of the Fed manipulating interest rates below market conditions.

Try writing a dissertation supporting both of those opposing views at the same time.

Victoria Guida writes at Politico that "Sen. Paul is also a yes – says she isn’t necessarily who he would’ve picked, but she’s level-headed and sees a more limited role for the Fed. "

I guess you can support Rand's yes vote here based on the fact that no one holding sound money positions is going to be nominated and at least with Shelton you might end up with an erratic member on the Fed.

That said, given she might get the votes needed to be confirmed, she must be giving off a lot of signals that she will play by establishment rules and behave.


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