Economist Judy Shelton, a former advisor to President Donald Trump during his first term and senior fellow at the Independent Institute, delivered a sweeping critique of the Federal Reserve on Monday.
What Happened: Aligning herself with the former Fed Governor Kevin Warsh’s call for “monetary regime change,” Shelton called for a structural overhaul, while questioning the very notion of central bank independence.
Shelton argued that the challenges facing the Fed go far beyond short-term rate decisions, pointing to systemic issues within the institution itself. “We’re really looking at much deeper problems at the Federal Reserve, its models, its constructs, the way the Federal Reserve staff choreographs the meeting,” she said.
She further …