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Tag: nomination

Third Republican comes out against Shelton for Fed seat, complicating nomination

Finance
Efforts to get Judy Shelton confirmed to the Federal Reserve just got a little tougher as one prominent Republican announced his opposition Monday.Sen. Lamar Alexander (R-Tenn.) said in a statement that he will oppose President Donald Trump's nomination of Shelton as a Fed governor, CNBC's Ylan Mui reported.That brings to three the total of GOP senators against the pick, putting the chamber in a likely 50-50 deadlock. Sens. Mitt Romney of Utah and Susan Collins of Maine are the others.Under a stalemate scenario, Vice President Mike Pence could step in and cast the tiebreaking vote. The White House said Monday that Shelton still has the full backing of the administration and her confirmation is expected, according to Reuters.Shelton's nomination has been controversial from the beginning.Dem...