MNI BRIEF: Trump's Fed Nominee Shelton Fails Senate Vote

The U.S. Senate Tuesday voted against advancing President Trump's controversial nominee Judy Shelton to join the Federal Reserve board of governors, but Republican Senate leaders set aside an option to try the vote again later.

The 47 to 50 party-line vote against Shelton adds another setback to a list of failed Trump nominees to the Fed, and the latest twist in a nearly year-and-a-half long saga to get Shelton on the Fed board. While the failed procedural vote could possibly be a fatal blow in Shelton's nomination process the Senate Majority Leader Mitch McConnell moved Tuesday to preserve his right to bring Shelton's name up again for consideration.

The Senate will not be in session next week due to the Thanksgiving holiday. Any vote to confirm Shelton would have to come before the new-year when the new 117th Congress would come to power thereby terminating the nomination.