Donald Trump is on the verge of finally succeeding, after several failed attempts, in appointing a fervent supporter and Federal Reserve board sceptic to a seat on the Fed’s powerful board of governors.by the Senate Banking Committee on Tuesday afternoon in Washington, then along with the less controversial and more certain nomination of the research director of the St Louis Fed, Christopher Waller, six of the seven seats on the Fed’s board would be held by Trump nominees.
Shelton has something in common with both Cain and Moore. She is a fervent Trump supporter and adviser to his campaign who – like Cain and Moore – was a monetary policy hawk before Trump’s success in the 2016 presidential election. During the 2008 global financial crisis, Shelton criticised the Fed and questioned whether interest rates should be fixed by a central committee. “We might as well resurrect Gosplan, the old Soviet State Planning Committee, and ask them to draw up the next five-year plan,” she said.
In effect, that’s another attack on the Fed’s existence and its mandate of maintaining stable prices and maximum employment, although more recently Shelton has – as has Trump - been as aggressive a proponent of Fed intervention to pump the US economy as she, and he before he became president, were once fierce critics of its efforts to do just that.
So much for independence. Just another corrupt institution. The Fed is there to serve Wall Street and no one else.
Don’t think about America talk about Australia going to the Dogs
China Sex Tapes! Why politicians and cooperate elites are so quiet on CCP’s crime against humanity? Does it have anything to do with the sex tapes, the $1.5 billion and like? Where is Dr Fauci when we needed him the most? CyrusAParsa1
Gold will destroy the FED.
Republican 2020 is the mainstream view in Australia let’s go GOP !
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