WASHINGTON (Reuters) – Republicans in the U.S. Senate have postponed plans to advance Federal Reserve nominee Judy Shelton, according to a congressional source, heading off a fight over a figure who has drawn bipartisan skepticism for her controversial views. The Republican-controlled Senate Banking Committee had scheduled a May 5 vote on Shelton’s nomination, which, if successful, would have cleared the way for her confirmation by the full chamber, the source said. But a schedule released on Tuesday night indicated that the committee will not hold a vote after all. Committee spokeswoman Amanda Critchfield confirmed that the panel will not hold a vote. She declined to comment further. At a February hearing, Republicans and Democrats on the committee challenged Shelton’s independence from Republican President Donald Trump and characterized her thinking as too far outside the mainstream to trust with the nation’s economy. Shelton backed away from her prior views at the hearing, saying she would not pursue a common currency with Canada and Mexico if confirmed as a Fed governor. She apologized for comparing a currency forger to civil rights pioneer Rosa Parks. Four previous Trump picks to be Fed appointees have failed to clear the Senate, a sign of the… Read full this story
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