Senate to Hold Hearing for Fed Nominees Shelton, Waller Feb. 13

(Bloomberg) -- A Senate committee will hold a hearing for President Donald Trump’s latest picks for the Federal Reserve Board of Governors later this month.

The Committee on Banking, Housing and Urban Affairs will conduct a hearing on the nominations of Judy Shelton and Christopher Waller on Feb. 13 at 10 a.m. in Washington, according to an announcement Monday.

Shelton, a former economic adviser to Trump’s election campaign, and Waller, research director at the St. Louis Fed, were formally nominated last month by the White House for two vacant spots on the seven-seat Fed board. Shelton has attracted controversy in the past for her support of reviving a gold standard for the U.S. currency and for abandoning her previously hawkish views on inflation after becoming a candidate for a Fed nomination.

Last week Massachusetts senator and Democratic presidential contender Elizabeth Warren blasted Shelton, in a letter demanding an explanation for her past “inaccurate and radical statements” on economic policy and the U.S. central bank. The president nominates candidates for the Fed Bard but they must be confirmed by the Senate.

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