Gold Standard Advocate Shelton Appointed as U.S. Treasury Secretary Advisor

Odaily News: The U.S. Department of the Treasury has appointed Judy Shelton as an advisor to Treasury Secretary Scott Bessent. Shelton previously failed to secure Senate confirmation to serve as a Federal Reserve governor due to her controversial economic views. The Treasury Department stated that Shelton will advise Bessent on monetary policy.

Prior to joining the Treasury Department, Shelton served as a senior fellow at an independent institute advocating free-market principles, and previously held a position at Stanford University's Hoover Institution. In 2019, Trump nominated Shelton to serve as a Federal Reserve governor, but the nomination faced bipartisan opposition in the Senate, including all Democratic senators and a few Republican senators. The controversy centered on three main areas: her views on Federal Reserve independence, her support for the gold standard, and her questioning of whether the United States needs a central bank. (CNBC)