The Hill reports that the Senate Republican sources expect President Trump to withdraw his nomination of Judy Shelton to serve on the Federal Reserve Board following bipartisan resistance on Capitol Hill.
The White House has not made a final decision since Trump would first need to sign off on the reversal, but Republican sources say it would be “desirable” for her to withdraw from consideration and that her nomination is “trending” in that direction.
“She’s being pulled,” said a Republican senator.
Senate GOP aides have indicated to colleagues privately that they expect Shelton to withdraw, according to one Senate aide familiar with the discussions.
If Shelton pulls out, she would would be Trump's third Fed nominee derailed by Senate Republican opposition, and the fifth overall, counting informal picks as well.
There was no reaction to this although it underpins the notion among economists is that the Fed will now pause in 2020 after having cut rates three times in 2019. Shelton, before the Senate Banking Committee today remained of the view that the Us should be devaluing the currency in response to trading partners the evaluation of their currencies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.