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Thu Feb 13, 2020, 09:14 PM

Republicans must stop Trump's Fed nomination

The only thing standing between President Trump’s two new nominees for 14-year terms on the Federal Reserve System’s Board of Governors and confirmation is the same Republican majority in the Senate that acquitted the president in his recent impeachment trial and has generally let him have his way. In the case of one nominee, the highly qualified research economist and veteran St. Louis Fed official Christopher Waller, this is no problem.

When it comes to Mr. Trump’s other nominee, Republican economic analyst Judy Shelton, a lack of GOP seriousness about the Senate’s advice-and-consent role could prove troublesome indeed. As we have noted previously, Ms. Shelton would bring to the board views that are extreme (longtime support for a version of the gold standard) when they are not inconsistent (she abhorred low interest rates when Barack Obama was president but praised them under Mr. Trump). To confirm someone apparently chosen more for her loyalty to this president than for her actual qualifications to make monetary policy would undermine the central bank’s independence.

Fortunately, there are signs that Republicans may push back against the Shelton nomination, just as GOP objections caused two earlier poorly qualified Trump candidates, Herman Cain and Stephen Moore, to withdraw from consideration for the positions that Mr. Waller and Ms. Shelton would fill. At a Senate Banking Committee hearing Thursday, two members of the Republican majority expressed reservations about Ms. Shelton. Sen. Richard C. Shelby (Ala.) pronounced himself “troubled” by some of Ms. Shelton’s writings. Sen. Patrick J. Toomey (Pa.) suggested her past views on monetary policy were in some ways “very, very dangerous.” If just one of these two senators votes no, Ms. Shelton would lack majority support on the 25-member committee, since all 12 Democrats appear ready to reject her.

We urge these senators to stop the Shelton nomination. The independence of not only the Fed but also the Senate is at stake. Regarding the latter, there was encouraging news Thursday when a war powers resolution sponsored by Sen. Tim Kaine (D-Va.) passed with support of eight Republicans. Mr. Kaine’s resolution directs the president to end the use of military force against Iran within 30 days, absent explicit congressional authorization, except in response to an “imminent attack.”

https://www.washingtonpost.com/opinions/republicans-must-stop-trumps-fed-nomination/2020/02/13/7e098d06-4e82-11ea-b721-9f4cdc90bc1c_story.html

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Reply Republicans must stop Trump's Fed nomination (Original post)
Zorro Thursday OP
Thomas Hurt Thursday #1
thegoose Thursday #2
BigmanPigman Friday #3

Response to Zorro (Original post)

Thu Feb 13, 2020, 09:16 PM

1. GOP moral cowardice knows no bounds, wasn't the impeachment clear enough for you.

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Response to Zorro (Original post)

Thu Feb 13, 2020, 09:22 PM

2. Like that'll happen

Bloated fuck can announce nuclear war and the fuck will ask where they should stand.

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Response to Zorro (Original post)

Fri Feb 14, 2020, 01:42 AM

3. HA! You have a great sense of humor

or are stoned if you think that'll ever happen.

The next Dem POTUS will have to clean up the "great" GOP economy/deficit (as usual).

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