Senate GOP Rubberstamps Fed Board Nominee Judy Shelton

0
Senate GOP Rubberstamps Fed Board Nominee Judy Shelton
MIH83 / Pixabay

Despite Concerns, Senate GOP Rubberstamp Trump‘s Extreme Fed Board Nominee Judy Shelton

Know more about Russia than your friends:

Get our free ebook on how the Soviet Union became Putin's Russia.

Q2 2020 hedge fund letters, conferences and more

Senate GOP Advances Judy Shelton's Nomination

WASHINGTON, D.C. – After previously expressing concerns over the fringe-right views held by Trump Fed Board nominee Judy Shelton, Republican members of the Senate Banking Committee predictably fell in line and unanimously advanced her nomination today. Shelton doesn’t just want to return to the gold standard, an idea roundly panned by respected economists.

This Clean Energy Hedge Fund Has Solid Returns In 2022 And Uses Amazon As A Precedent

global investment 1666792701Electron Capital returned 3.1% for October, bringing its year-to-date return to 8.3%. The MSCI ACWI gained 6% for October, raising its year-to-date return to -22.3%, while the S&P 500 returned 8% in October for a year-to-date loss of 18.8%. The MSCI World Utilities Index was up 2.7% for October but remains down 13.5% year to Read More

Judy Shelton has suggested holding an international summit on monetary policy at Trump’s Mar-a-Lago golf resort, an Emoluments Clause-flouting arrangement that would once again come at U.S. taxpayers’ expense. Shelton wants to privatize the Postal Service to the detriment of rural America and also once exclaimed that she is “tired of the criticism… even among Republicans” that “Wall Street greed, or predatory lending” led to the financial crisis.

“Conservative committee members pulled a ‘Susan Collins’ today: after voicing concerns over the latest extreme Trump nominee, they voted for her anyways,” said Jeremy Funk, spokesman for Accountable.US. “It’s now on the rest of the Senate to recognize the folly of allowing someone obsessed with returning to the gold standard to oversee the nation’s monetary policy -- and someone who’s already cooked up ways to put money directly into President Trump’s pocket.

Someone who believes Wall Street and predatory lenders were totally blameless for the financial crisis that leveled the economy in 2009 would not be a reasonable voice advising the Fed Chair during the current recession. The full Senate should immediately reject the Shelton nomination.”

What You Need To Know:

 

Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
Previous article Why A Little “Home Cookin'” Won’t Help Your Portfolio
Next article Drivers Protesting Lyft’s Decision To Sell PPE & Prop 22

No posts to display