Shelton’s Fed Nomination Blocked in Blow to Trump, McConnell (2)

Judy Shelton’s nomination to the Federal Reserve Board was blocked in the Senate Tuesday, a stunning setback for Senate Majority Leader Mitch McConnell and a blow to President Donald Trump’s drive to shake up the U.S. central bank before he leaves office.

After Covid-19 exposure forced two Republican senators into quarantine, the GOP was left short of the votes needed to overcome united Democratic opposition. McConnell switched his vote to no once the outcome became clear, a tactical move that would allow him to bring the nomination up for reconsideration. That could happen as soon as this week ...