Fed nominee Shelton will be considered for confirmation as early as next week

A controversial nominee to fill a seat on the Federal Reserve Board will receive a vote in the Senate, according to news reports Thursday, as soon as next week.

Bloomberg News first reported the development. Later reports indicated the vote could come on Tuesday or Wednesday,

Federal Reserve Board Nominee Judy Shelton will receive the vote, according to Sen. John Cornyn (R-Texas), “as early as next week.” Senate Republican leadership, Cornyn said Thursday, has discussed bringing up the nomination. Senate Majority Leader Mitch McConnell (R-Ky.) filed cloture on the nomination Thursday.

However, there is no action yet on the nomination of Christopher Waller to another open seat on the board. In the past, the White House has said that the nominations of the pair must be treated in tandem by the Senate and cannot be considered individually.

In September, Senate Majority Whip John Thune (R-S.D.) said Shelton “does not have the votes” to be confirmed to the seat. However, Thune said the Senate nevertheless intended to “move forward” on Shelton’s nomination before the November election if she was able to receive more support.

That timing obviously didn’t work out. However, apparently the White House continued to push for Shelton’s nomination, which it had flagged as a priority. Thune also said, according to reports, that the Republican leadership will not bring up Shelton’s nomination until it is sure it has the votes to confirm.

On Thursday, Alaska’s Sen. Lisa Murkowski (R) said she would support Shelton. Utah’s Mitt Romney (R), on the other hand, reiterated his opposition to Shelton. Maine’s Susan Collins (R) has also said she won’t vote for Shelton.

To be confirmed, Shelton needs all but four Republican members to support her nomination, since all Democrats have vowed to reject her.

President Donald Trump formally nominated Shelton, an economist and consultant, to the board in January. In July, the Senate Banking Committee recommended her to the full Senate for confirmation on a 13-12, strictly party-line vote.

Shelton has drawn controversy and some criticism for her past views about reinstituting the gold standard, questioning the effectiveness of federal deposit insurance, and the Fed’s independence from political influence.

Waller, on the other hand, has not been controversial and apparently has had the votes all along for confirmation.