Site last updated: Sunday, August 2, 2026

Log In

Reset Password
Butler County's great daily newspaper

Trump will tap economists for 2 key Fed vacancies

WASHINGTON — President Donald Trump, who has criticized the Federal Reserve for not cutting interest rates, said Tuesday that he intends to nominate two economists to fill influential positions on the central bank’s Board of Governors.

Trump said he would name to the board Christopher Waller, who is executive vice president and research director at the Federal Reserve Bank of St. Louis, where he has worked since 2009. He also tapped Judy Shelton, the U.S. executive director for the European Bank of Reconstruction and Development. Shelton was previously an economic adviser to Trump’s presidential campaign.

The planned nominations were announced by Trump in a tweet late Tuesday. Each must be confirmed by the Senate.

Trump’s choices come after he has harshly and repeatedly criticized the Fed under Chair Jerome Powell for raising rates four times last year and for keeping rates unchanged this year. Trump has argued that the Fed, by keeping its benchmark rate in a range of 2.25 percent to 2.5 percent, is slowing economic growth and depressing the stock market.

This spring, Trump said he planned to nominate former GOP presidential candidate Herman Cain and conservative commentator Stephen Moore to the remaining two vacancies on the Fed board.

But Cain withdrew from consideration after allegations of sexual harassment and infidelity, first aired during his 2012 presidential run, resurfaced. Moore withdrew in the face of Republican opposition in the Senate after news organizations unearthed many of his writings belittling women.

Shelton has a history of attacking the Fed’s policies and has also supported the gold standard, under which the value of currencies like the dollar are fixed to a specific amount of gold. Most mainstream economists who study monetary policy reject the gold standard as antiquated.

Shelton has expressed support for cutting rates, as Trump has demanded.

Waller’s approach to interest rate policy is less clear.

Bullard said last month that he had been approached by White House officials about joining the Fed’s seven-member board.

More in National News

Subscribe to our Daily Newsletter

* indicates required
TODAY'S PHOTOS