WASHINGTON—The Senate Banking Committee has advanced two nominations for the Federal Reserve Board of Governors to the full Senate: Economist Judy Shelton and Federal Reserve Bank of St. Louis Director of Research Dr. Christopher Waller.
Shelton's nomination advanced along party lines; Waller's nomination had some bipartisan support.
At the nomination hearing in February, committee Chairman Mike Crapo (R-ID) described Shelton's questioning as "very aggressive" as senators asked her about her previous positions on various monetary issues, including lowering interest rates, devaluing the dollar, and maintaining the Fed's independence. Waller was less controversial and shared insights into how his experience as an economist for the Fed would affect his approach to monetary policy.
The Fed's Board of Governors is made of up seven members; Shelton and Waller are nominated to fill two vacancies.