WASHINGTON - Republicans on a US Senate committee overrode opposition from Democratic lawmakers on Tuesday and advanced the nomination of conservative economist Judy Shelton to the Federal Reserve board.
In a party-line vote, the Senate Banking Committee sent Shelton's nomination to the full chamber for confirmation. The committee's top Democrat Senator Sherrod Brown strongly objected to Shelton's nomination, calling her"a threat to our economy, our democracy, our country," and saying"her ideas are far outside the mainstream."
Last year, she published an editorial in the Wall Street Journal criticising the Fed's approach to combatting the global financial crisis in 2008, and has been an outspoken supporter of low interest rates.
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