Fed Board Nominee Shelton, Picked by Trump, May Miss Next Week’s Meeting

BlockBeats News, September 10th - Trump's nomination of Shelton as a Federal Reserve Board governor is expected to clear a key hurdle in the Senate on Wednesday, but lawmakers say there may still not be enough time to allow Shelton to catch the vote at next week's Fed meeting.

When asked about the logistical work of whether Shelton's appointment could be confirmed before the September Fed meeting, Senate Finance Committee Republican Senator Lummis said, "I think it will be very challenging. Even if a new process is introduced, it will take a lot of time." She was referring to Republicans seeking possible changes to the nomination process.

The Finance Committee is expected to vote on Wednesday on whether to advance Shelton's appointment to full Senate consideration, with Democrats expected to unanimously oppose, but Republicans on the committee are expected to advance with a 13:11 majority vote. It is currently unclear when the full Senate will vote. A Senate Republican aide said that Shelton's nomination could be confirmed as early as next Monday. (FXStreet)