WASHINGTON (AP) — Economist Judy Shelton, tapped by President Donald Trump for a seat on the Federal Reserve board, says she does not favor credit tightening by the Federal Reserve that would harm investors.
In a CNBC interview Friday, Shelton sought to align her past criticism of the Fed’s record low interest rates during the Obama administration with the current attacks by Trump on Fed rate hikes.
“When you consider that over half of American households are invested in mutual funds or pension funds in this market, I don’t want the Fed to pull the rug out from under them by taking a position that is not conducive to further providing liquidity for this growing economy,” Shelton says.
