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MNI BRIEF:U.S. Senate May Approve Trump Fed Nominees Next Week

(MNI)

The U.S. Senate as soon as next week could vote to confirm President Donald Trump's controversial Federal Reserve nominee Judy Shelton to a seat on the board of governors.

Senate Majority Leader Mitch McConnell on Thursday set up procedural votes for Shelton that could lead for final up or down votes next week that would require a simple majority for her confirmation. Shelton's nomination was put up at the same time as that of Christopher Waller, a St. Louis Fed economist. Waller's confirmation has been far less controversial.

The makeup of the Fed board of governors could change further once the Biden administration is inaugurated. Lael Brainard, currently the board's only Democrat, is also a top contender for Biden's Treasury Secretary.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
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MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
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