Trump's Fed ex-nominee Shelton to advise Bessent, Treasury says

Kitco Media
By Reuters
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Reuters
Trump's Fed ex-nominee Shelton to advise Bessent, Treasury says teaser image

Oct 9 (Reuters) - US Treasury Secretary Scott Bessent has hired ​Judy Shelton, President Donald Trump's former ‌pick for the Federal Reserve Board, as an adviser with a particular focus on ​China, the Treasury Department said ​on Friday.

Shelton previously led the European ⁠Bank for Reconstruction and Development ​and the National Endowment for Democracy, according ​to the Treasury. She has also worked as a fellow at the Independent Institute ​and the Hoover Institution at ​Stanford University.

Trump had tapped Shelton for a ‌vacant ⁠Fed seat during his first term in the White House, but her nomination hit roadblocks over bipartisan concerns that ​her ​perceived partisanship ⁠could imperil the Fed's independence.

"Shelton will advise the Secretary ​on currency policy, with a ​particular ⁠focus on evaluating financial conditions in China," Treasury said in a statement.

Reporting ⁠by ​Susan Heavey in Washington; ​additional reporting by Kanjyik Ghosh in Barcelona; editing ​by Philippa Fletcher and Michelle Nichols

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