It’s Official! Trump Nominates Rate-Cut Pusher And ZIRP Advocate Judy Shelton To The Fed

Is she still “good for gold”, not unlike how Alan Greenspan was supposed to be “good for gold”?

(Silver Doctors Editors) Here’s an update on the on-going saga of a one Judy Shelton being nominated by President Trump to the Fed.

She has finally officially been nominated.

Recall that last year, all that happened was a trial balloon via President Trump’s personal Twitter account:

The MSM and nearly every single person in the alternative media jumped on this as if she had in fact been nominated, when she had in fact not been nominated.

We were curious (skeptical?), however, so we asked a couple of simple questions on a few different occasions, such as this:

She did not reply.

You would think an honest money gal would answer a simple question coming from honest money advocates in the alternative media, so we’ll ask the question again to see if we get an answer:

 

We’ll have to see if she replies, but we’re not holding our breath.

Here’s Judy Shelton in July of 2019, advocating rate cuts (in the our booming economy no less, the best economy in all of history) in excess of what the Fed even cut:

When asked whether she would support reducing interest rates by half a percentage point in July, Shelton said she would and indicated she would have voted for that size of a cut in June had she been on the Fed board.

“I would have voted for a 50-basis-point cut at the June meeting,” she said in an email.

Recall that at that July, 2019 meeting, the Fed cut by a mere 25-basis points, not by 50.

That was the first cut in this rate-cutting cycle for those keeping score.

Here’s an instance of Shelton advocating zero percent interest rates, also from July of 2019:

“Because I’m so against paying interest on excess reserves, in a way, I’m radically in favor of eliminating 235 basis points [on interest rates],” Shelton said. She suggested a “glide path” of “maybe one to two years” to take the interest rate the Fed pays on excess reserves from the current level of 2.35 percent back down to zero.

Nonetheless, her nomination is now official.

From WhiteHouse.gov:

She will still need to be confirmed by the Senate, and during her confirmation hearing, we might get a better idea as to her actual intentions.