SPONSORED:

Susan Collins to oppose Trump's Fed nominee Judy Shelton

Sen. Susan CollinsSusan Margaret CollinsThe Hill's Morning Report - Presented by Mastercard - Congress inches closer to virus relief deal Lawmakers pressure leaders to reach COVID-19 relief deal Biden says GOP senators have called to congratulate him MORE (Maine) said Monday that she will vote against Judy Shelton's Federal Reserve Board nomination, becoming the second Republican senator to oppose President TrumpDonald John TrumpAppeals court OKs White House diverting military funding to border wall construction Pentagon: Tentative meeting between spy agencies, Biden transition set for early next week Conservative policy director calls Section 230 repeal an 'existential threat' for tech MORE's controversial nominee.

"I have serious concerns about this nomination. In her past statements, Ms. Shelton has openly called for the Federal Reserve to be less independent of the political branches, and has even questioned the need for a central bank," Collins said in a statement.

"This is not the right signal to send, particularly in the midst of the pandemic, and for that reason, I intend to vote against her nomination if it reaches the floor," she added.

ADVERTISEMENT

The opposition from Collins, a moderate GOP senator who faces a tough reelection bid, comes after Sen. Mitt RomneyWillard (Mitt) Mitt RomneySanders says he can't support bipartisan COVID-19 relief proposal in its current form Romney blasts Trump lack of leadership during pandemic: 'It's a great human tragedy' The Hill's Morning Report - Presented by Mastercard - Congress inches closer to virus relief deal MORE (Utah) became the first Republican to say he will vote against Shelton. Romney told reporters last week that he would not be "endorsing" Shelton's nomination, adding, "I will be voting against her."

It's the latest potential setback for Trump's nominee. Shelton can lose three GOP senators and still be confirmed, even without getting any Democratic votes, by letting Vice President Pence break a tie on her nomination.

Shelton is expected to get universal opposition from the Senate's 47 Democrats, meaning if four Republican senators oppose her nomination she will not have the support needed to be confirmed.

The Senate Banking Committee advanced Shelton's nomination this month in a 13-12 vote. Despite earlier doubts about her viability, Shelton won over three GOP committee members — Sens. Richard ShelbyRichard Craig ShelbyPelosi bullish on COVID-19 relief: 'We cannot leave without it' House Democrats pick DeLauro to lead Appropriations panel The Hill's Morning Report - Presented by Mastercard - Dem leaders back smaller COVID-19 relief bill as pandemic escalates MORE (Ala.), Pat ToomeyPatrick (Pat) Joseph ToomeyGovernment used Patriot Act to gather website visitor logs in 2019 Appeals court rules NSA's bulk phone data collection illegal Dunford withdraws from consideration to chair coronavirus oversight panel MORE (Pa.) and John KennedyJohn Neely KennedyMORE (La.) — who had initially been skeptical of supporting her.

Shelton has drawn skepticism because of her past support for linking the value of the dollar to gold, along with her inconsistent stances on the Fed interest rates. She also has a close relationship with Trump and a lack of experience with banking regulations.

Shelton appeared to question the independence of the Fed when she said last year that "I don’t see any reference to independence in the legislation.”