Biden withdraws Judy Shelton’s nomination as Fed board member


WASHINGTON, DC – FEBRUARY 13: Judy Shelton testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on their nomination to be member-designate on the Federal Reserve Board of Governors on February 13, 2020 in Washington, DC. (Photo by Sarah Silbiger/Getty Images)

WASHINGTON (NewsNation Now) — President Joe Biden on Thursday withdrew from consideration former President Donald Trump’s contentious nomination of Judy Shelton to fill a vacant seat at the Federal Reserve.

Shelton has been criticized for inconsistent and controversial views, including an embrace of the gold standard and a shifting stance on interest rates as control of the White House passed from Democrat Barack Obama to Trump, a Republican.

The U.S. Senate voted against confirming Shelton on Nov. 17, 2020.

Reuters contributed to this report.

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