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The appointment of economist Judy Shelton, supported by US President Donald Trump, to a position on the board of directors of the US Federal Reserve has so far failed. Republicans were left without the majority needed for Senate confirmation.
With a trick of procedure, Republican Majority Leader Mitch McConnell enabled a new vote at a later date.
Republicans actually have a slim majority in the Senate. However, three of them had previously announced that they would vote against Shelton. Voting on the additional nomination process, also due to absences, ultimately ended 50-47 against Shelton.
Vice President-elect Kamala Harris also attended the expected close vote. The Democrat remains a senator from California.
Shelton calls for a return to the gold standard
Shelton is known as a recognized critic of the United States Federal Reserve. He advised Trump on economic issues during the 2016 presidential election campaign and recently served in a high-level position for the European Bank for Reconstruction and Development. Technically, Shelton drew attention through unusual positions. He thinks, for example, that the international monetary system should revert to a gold-backed system.
