Susan Collins to oppose Trump's Fed nominee Judy Shelton

Sen. Susan CollinsSusan Margaret CollinsFrom a Republican donor to Senate GOP: Remove marriage penalty or risk alienating voters The Hill's Campaign Report: Trump's visit to battleground Ohio overshadowed by coronavirus New polls show tight races for Graham, McConnell 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 TrumpJoe Arpaio loses bid for his old position as sheriff Trump brushes off view that Russia denigrating Biden: 'Nobody's been tougher on Russia than I have' Trump tees up executive orders on economy but won't sign yet 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.


The opposition from Collins, a moderate GOP senator who faces a tough reelection bid, comes after Sen. Mitt RomneyWillard (Mitt) Mitt RomneyFrom a Republican donor to Senate GOP: Remove marriage penalty or risk alienating voters Tennessee primary battle turns nasty for Republicans NRCC poll finds McBath ahead of Handel in Georgia 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 ShelbyWary GOP eyes Meadows shift from brick-thrower to dealmaker On The Money: Pessimism grows as coronavirus talks go down to the wire | Jobs report poised to light fire under COVID-19 talks | Tax preparers warn unemployment recipients could owe IRS Pessimism grows as coronavirus talks go down to the wire MORE (Ala.), Pat ToomeyPatrick (Pat) Joseph ToomeyDunford withdraws from consideration to chair coronavirus oversight panel GOP senators push for quick, partial reopening of economy NSA improperly collected US phone records in October, new documents show 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.”