Treasury's Bessent hires Trump's controversial former Fed board pick, Judy Shelton, as advisor
Shelton's controversial economic ideas led the Senate to block her nomination to the Fed. Now she's going to be a counselor to the Treasury secretary.
TL;DR
- Judy Shelton appointed counselor to Treasury Secretary Scott Bessent.
- Shelton will advise on currency policy, focusing on China's financial conditions.
- Her previous nomination to the Federal Reserve was blocked by the Senate over her economic views and stance on Fed independence.
- Shelton has a background in analyzing national monetary and financial conditions and exchange rates.
- Her appointment comes as the Treasury Department experiences significant high-level personnel departures.