Treasury Secretary Bessent Appoints Controversial Former Fed Nominee Judy Shelton as Adviser
· World · CNBC, Bloomberg, The Hindu
U.S. Treasury Secretary Scott Bessent has appointed Judy Shelton as a counselor to advise on currency policy with a focus on China. Shelton was previously blocked by the U.S. Senate in 2019 from joining the Federal Reserve Board of Governors due to her controversial views on central bank independence and support for the gold standard. A senior fellow at the Independent Institute and former Hoover Institution researcher, Shelton authored books including 'Money Meltdown' in 1988. Her appointment follows a series of high-level departures at the Treasury Department, where seven Senate-confirmed officials left by the end of August. Shelton does not require Senate approval for her new advisory role.
Why it matters
The appointment places a polarizing free-market advocate with unconventional monetary views into a key advisory position within the U.S. Treasury.
Read the original report — CNBC
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