Fed Nominee In Trouble

“Are you my new Fed Nominee?”

Lord Damp Nut’s Federal Reserve nominee, Judy Shelton, is in trouble:

Three Republican senators are undecided about whether to support Judy Shelton, President Donald Trump’s latest nominee for a seat on the Federal Reserve board, after a contentious hearing in which lawmakers from both parties raised questions about her controversial policy stances.

As you may recall, Shelton wants to return the US to the gold standard (Ayn Rand is getting a lady boner from the grave), and Republican members on the Senate Banking Committee are not sure they can vote to support that. You might recall previous nominees have been sent packing, too.

Shelton says she would send interest rates into the negatives (which is sumpin’ that our self-professed Debt-King-in-Chief has been agitating to do), and generally looks to be as nutty as the Christmas slice.

Shelton, an economist and a former 2016 Trump campaign adviser, defended her stance on rates by pointing to the 49 central banks that lowered their interest rates last year, causing their currency to depreciate against the US greenback. She noted the Fed then followed suit in July, lowering rates by a quarter-percentage point, and then twice more.

Shelton vowed to work with her Fed colleagues to benefit the US economy even as she brings a different perspective, acknowledging: “I don’t claim to be in the mainstream of economist.”

“I might be a nut,” Shelton did not add, “but that’s what you get when you shake the tree.”

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3 Responses to Fed Nominee In Trouble

  1. Shelton says she would send interest rates into the negatives

    blink.blink.blink

    That’s a not-even-wrong kind of wrong. Fractally wrong. Wrong, wrong wrongedy wrong, brimming over in it’s wrongness. That’s timecube guy wrong.

    No you’re not in the ‘main stream’ of economists, you’re not even in a distant trickle that turns into a tributary; you’re a runnel of something unspeakable leaking out of a rusty drum off in the corner of the superfund site that everyone’s pretty sure contains a decaying victim of methyl-ethyl-badhsit exposure and doesn’t go near without full NBC gear, followed by numerous silkwood showers…

    Liked by 3 people

  2. Dennis Cole says:

    “Pssst – hey buddy! We got money to loan, and we’re even gonna PAY YOU to borrow it! Wadda you mean, it sounds too good to be true? Are you some kind of Kenseyan Commy or what?!?!?!”

    Liked by 2 people

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