July 21, 2020 / 6:28 PM / in 24 days

Senate panel approves Trump's Fed nominee Shelton

WASHINGTON, July 21 (Reuters) - The Senate Banking Committee on Tuesday approved Judy Shelton’s nomination to the Federal Reserve Board in a party-line vote, delivering a win for President Donald Trump and his efforts to install a political confidante in a key economic policy-making role.

The 13-12 vote in favor of her nomination came despite a stormy confirmation hearing in mid-February, when the former Trump campaign adviser was characterized by some among the committee’s Republican majority as outside the mainstream of economic thought.

Her nomination now advances to the full Senate. (Reporting by Howard Schneider; Editing by Dan Burns and Andrea Ricci)

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