Shelton at Fed Won’t Be ‘Huge’ Issue, Ex-New York Fed Chief Says

Having people who are “outside the mainstream” on the Federal Reserve’s Board of Governors won’t create “huge amounts of problems” because they won’t set the path for monetary policy alone, former New York Federal Reserve President William Dudley said.

Judy Shelton, who is President Donald Trump’s contentious pick for a place on the board, together with fellow Fed nominee Christopher Waller, the director of research at the St. Louis Fed, this week cleared a key hurdle to confirmation by winning the approval of a majority on the Senate Banking Committee.