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Trump renominates Judy Shelton in last-ditch bid to reshape Fed

Trump renominates Judy Shelton in last-ditch bid to reshape Fed
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President TrumpDonald TrumpCaitlyn Jenner says election was not 'stolen,' calls Biden 'our president' Overnight Health Care: FDA authorizes Pfizer vaccine for adolescents | Biden administration reverses limits on LGBTQ health protections Overnight Defense: US fires 30 warning shots at Iranian boats | Kabul attack heightens fears of Afghan women's fates | Democratic Party leaders push Biden on rejoining Iran deal MORE on Sunday renominated Judy Shelton to the Federal Reserve, attempting to fill the final vacant seat on the central bank’s board just weeks before he is set to leave office.

Trump renewed Shelton’s nomination on the first day of the new Congress after she failed to muster enough support for confirmation last year. Unconfirmed presidential nominations automatically expire at the end of a session of Congress.

Shelton’s renomination is the first step in a last-ditch push by Trump to add a controversial ally to the Fed board. If Republicans can defend both of Georgia's two Senate seats in Jan. 5 runoff elections, Shelton may have enough support to be confirmed before President-elect Joe BidenJoe BidenCaitlyn Jenner says election was not 'stolen,' calls Biden 'our president' Manchin, Biden huddle amid talk of breaking up T package Overnight Energy: 5 takeaways from the Colonial Pipeline attack | Colonial aims to 'substantially' restore pipeline operations by end of week | Three questions about Biden's conservation goals MORE is sworn in Jan. 20.

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The Senate is divided between 51 Republicans and 48 Democrats pending the results of the Georgia runoffs. All Democratic senators and GOP Sens. Mitt RomneyWillard (Mitt) Mitt RomneyTop female GOP senator compares Cheney ousting to 'cancel culture' Romney: Removing Cheney from House leadership will cost GOP election votes Utah county GOP censures Romney over Trump impeachment vote MORE (Utah) and Susan CollinsSusan Margaret CollinsTop female GOP senator compares Cheney ousting to 'cancel culture' Utah county GOP censures Romney over Trump impeachment vote House conservatives take aim at Schumer-led bipartisan China bill MORE (Maine) oppose Shelton’s nomination, making one more GOP defection or a loss by Sen. Kelly LoefflerKelly LoefflerGeorgia Republican secretary of state hits Loeffler as 'weak,' 'fake Trumper' Loeffler asks Georgia attorney general to investigate Raffensperger over 2020 election Former Rep. Doug Collins won't enter Georgia Senate race MORE (R-Ga.) or former Sen. David PerdueDavid PerdueGeorgia Republican secretary of state hits Loeffler as 'weak,' 'fake Trumper' Warnock raises nearly M since January victory Georgia's top election official looks to shake political drama MORE (R-Ga.) likely fatal to her bid.

Loeffler is serving out the remainder of former GOP Sen. Johnny IsaksonJohnny IsaksonLoeffler group targets Democrats with billboards around baseball stadium Warnock raises nearly M since January victory Five big takeaways on Georgia's new election law MORE’s term, which will last until either she or Warnock are sworn in as his successor. The Senate seat Perdue held until Sunday is vacant and will remain so until the winner of his race with Democratic challenger Jon Ossoff is sworn in.

Shelton, a former Trump campaign adviser, was first nominated to the Fed in January 2019 and came remarkably close to confirmation in December. Despite opposition from three GOP senators, she appeared on track to be confirmed until coronavirus-related absences allowed Democrats to defeat a motion to end debate on her nomination.

The swearing-in of Sen. Mark KellyMark KellyEx-McSally aide pleads guilty to stealing over 0K in campaign funds Bowser on Manchin's DC statehood stance: He's 'not right' Manchin says he doesn't support DC statehood, election reform bills MORE (D-Ariz.) to succeed former GOP Sen. Martha McSallyMartha Elizabeth McSallyEx-McSally aide pleads guilty to stealing over 0K in campaign funds Arizona state senator announces bid for Kirkpatrick's seat Democratic Arizona Rep. Ann Kirkpatrick says she won't seek reelection MORE on Nov. 30 left Republicans without enough votes to confirm Shelton for the remainder of 2020. 

But the replacement of retired Sen. Lamar AlexanderLamar AlexanderThe Republicans' deep dive into nativism Senate GOP faces retirement brain drain The Hill's Morning Report - Presented by the National Shooting Sports Foundation - CDC news on gatherings a step toward normality MORE (R-Tenn.) — who opposed Shelton’s nomination — by first-term Sen. Bill Hagerty (R) may give Shelton enough votes to be confirmed this month if no other Republican breaks from Trump.

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Shelton's confirmation would prevent Biden from filling the last vacant seat on the seven-person Fed board of governors and give Trump an ally within the Fed should he run for reelection and win another term in 2024. 

Shelton has been widely criticized by former Fed officials economists across the ideological spectrum for her inconsistent views on monetary policy, controversial proposals and closeness to Trump.

Updated