Romney opposes Trump Federal Reserve nominee

Mitt Romney 06

Sen. Mitt Romney says he will vote against a controversial nominee for the Federal Reserve’s Board of Governors.

Romney told reporters he would be voting against Judy Shelton, one of two Trump administration nominees to the Fed. 

“I’m not going to be endorsing,” Romney told reporters according to Bloomberg. “I will be voting against it.”

Bloomberg reports Shelton holds views that are seen as controversial in banking circles.

Shelton is viewed suspiciously by many in central banking circles for policy views that are well outside the mainstream — including a history of admiration for the gold standard — and for being a political loyalist who might bend to Trump’s will. Shelton appeared to abandon her long-time advocacy for ultra-tight monetary policy when she emerged as a Fed candidate, publicly aligning herself with the president’s calls for lower interest rates.

Shelton’s nomination in the full Senate could be blocked if three other Republicans join Romney and Democrats in voting against her, but that seems unlikely. 

Another nominee, Christopher Waller, is expected to be confirmed without much trouble.