White House finally announces Trump’s intent to nominate pair to Fed seats

Judy Shelton and Christopher Waller were given the go-ahead by the White House late Thursday for seats on the Federal Reserve Board.

In a message to the Senate, President Donald Trump formally announced his “intention to nominate” the two to the board of the central bank, to fill two open seats on the seven-member panel.

Shelton, a former executive director of the European Bank for Reconstruction and Development, would fill the remainder of a 14-year term expiring Jan. 31, 2024, if confirmed.

Waller, an economist and executive vice president and director of research at the Federal Reserve Bank of St. Louis, would fill the remainder of a 14-year term expiring Jan. 31, 2030.

If confirmed, the two would fill seats on the board that have been open since Janet Yellen (a former chairman) and Stanley Fischer (a former vice chairman) left the board in 2018 and 2017, respectively.

n July, shortly before the Independence Day holiday, Trump tweeted that his “intended nominees” for the two open slots on the central bank’s board were Shelton and Waller – the most recent mention or action on the nominations, up to Thursday’s release by the White House.

President Donald J. Trump Announces Intent to Nominate Individuals to Key Administration Posts

Background: Judy Shelton

Background: Christopher Waller