(Bloomberg) - Judy Shelton, a conservative economist whom the Trump administration is considering for a vacancy on the Federal Reserve, said monetary policy should support a “pro-growth economic agenda.”
“By its own admission, we’ve seen almost a complete turnaround, so I think the Fed itself went from being quite inclined to raise as quickly as possible to now rethinking and sitting tight and now even hinting that it could go the other way,” Shelton said Wednesday in a Bloomberg Television interview with David Westin.
“So I welcome this newfound humility on the part of the Fed, watchful waiting,” and “it would be healthier if we had a more organically determined interest rate” that reflected market thinking, she said.
Shelton said she believes she’s under consideration for one of two open seats on the Fed’s Board of Governors, which would require Senate confirmation, though she declined to offer more details.
