from New York Sun
The vote of the Senate Banking Committee to confirm Judy Shelton for a governorship of the Federal Reserve marks an important step in the right direction for our central bank. It was a party line vote, but it sends the nomination to floor with a favorable signal — amid a Covid crisis that has put great strains on the economy. The Washington Post reckons the nomination “will likely be assured through a vote by the full Senate.”
We certainly hope so, though we take nothing for granted. As the vote neared in the Banking Committee, there was a flurry by the Democrats to try to reopen the debate on Ms. Shelton within the committee. “The last thing we need right now,” said Senator Sherrod Brown, the ranking minority member, “is more price volatility and instability that will only end up hurting working families and businesses more.”