Judy Shelton, whose controversial economic ideas helped derail her 2019 nomination to the Federal Reserve, has been appointed counselor to US Treasury Secretary Scott Bessent, CNBC reported on Friday, citing a statement from the US Treasury Department. Shelton will advise Bessent on currency policy, "with a particular focus on evaluating financial conditions in China," the announcement, which will be released later, added. "Throughout her career, she has specialized in analyzing the internal monetary and financial conditions of nations and their impact on exchange rates." US President Donald Trump nominated Shelton to the Fed's Board of Governors in 2019, but a bipartisan group of senators blocked her confirmation over her views on central bank independence, her support for the gold standard, and her questions about whether the United States needed a central bank.
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