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Fed nominee Shelton doesn't yet have Senate support: Bloomberg News

Kitco News

(Reuters) - Judy Shelton, U.S. President Donald Trump’s controversial pick to serve on the Federal Reserve’s interest-rate-setting panel, does not currently have the votes to win confirmation in the U.S. Senate, according to Bloomberg News, citing Republican Senator John Thune.

Thune is the Senate’s majority whip, whose job is to keep track of how fellow Republicans will vote on any given issue. Thune said the White House still wants to push through a vote before the Nov. 3 presidential election if she can win enough support among Senators by then, Bloomberg reported.

Thune did not immediately respond to a request for comment from Reuters.

Shelton, a former Trump campaign adviser whose views including support for a gold standard and the advocacy of more cooperation between the central bank and the White House, has never been a shoe-in for the post.

In July the Senate Banking Committee advanced Shelton’s nomination to consideration by the full Senate in a 13-12 partyline vote.

In the full Senate, where Republicans hold a 53-47 majority, Senators Mitt Romney and Susan Collins have already declared their intention to oppose her.

If two more join, Shelton would become the fifth of Trump’s Fed picks to be blocked from joining the top ranks of the U.S. central bank.

Trump has appointed all but one of the current five governors, including Chair Jerome Powell.

Shelton has been seen as Trump’s potential pick for succeeding Powell, should Trump win a second term in November.

Reporting by Ann Saphir and Jonnelle Marte; Editing by Chizu Nomiyama and Marguerita Choy

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