Washington, D.C. – Today, Colorado U.S. Senator Michael Bennet released the following statement after voting against the nomination of Dr. Judy Shelton to serve on the Federal Reserve Board of Governors. The Senate failed to invoke cloture on the Shelton nomination by a vote of 47-50:
“Dr. Judy Shelton holds extreme views that could undermine the Federal Reserve’s independence, credibility, and effectiveness. Her extreme partisan views risk politicizing the Federal Reserve and slowing the recovery from an economic crisis that is devastating families and small businesses across Colorado.
“Shelton has questioned whether or not our country needs a central bank. She has encouraged returning to the gold standard, a policy abandoned after it helped catalyze the Great Depression. She has called a convicted counterfeiter who sold gold coins emblazoned with President Trump's face ‘the Rosa Parks of monetary policy.’ She has also supported selling off our public lands, which is unacceptable in the state of Colorado. For all of these reasons, I voted against Shelton’s nomination.”