Confirming Judy L. Shelton to the Board of Governors of the Federal Reserve System

Description

This vote advances the nomination of Judy Shelton to be a Member of the Board of Governors of the Federal Reserve System. Shelton would replace the resigning Janet Yellen and serve the remaining four years of Yellen’s 14-year term. Shelton has long expressed concerns over the Fed’s manipulation of interest rates and actions in the marketplace which may result in runaway inflation and harm long-term economic growth. She has also advocated for increased transparency at the Fed and a return to the gold standard. ACU opposes the Fed’s monopoly control over our money supply, supports the free competition of currency, believes Shelton is well qualified to help protect our monetary system and supported this nomination. The Senate rejected the nomination by failing to invoke cloture (end debate) on a motion to take the nomination up on November 17, 2020 by a vote of 47-50. (Sen. Lamar Alexander [R-TN, ACUF Lifetime 72%] did not cast a vote but is recorded as opposing the ACU position due to his public statements opposing the nomination. Senate Majority Leader Mitch McConnell [R-KY, ACUF Lifetime 87%] is recorded as supporting the ACU position because his “nay” vote was tactically designed to keep the nomination alive.)