Republican Utah Sen. Mitt Romney is a vote that the Democrats can count on to go against President Donald Trump whenever they need him.
He did it when he voted for one of the Articles of Impeachment and he did it again this week when he confirmed he would vote against the president’s Federal Reserve nominee Judy Shelton, The Hill reported.
“I’m not going to be endorsing Judy’s Shelton’s nomination to the Fed,” he said to reporters at the Capitol. “I will be voting against her.”
Romney is the first Republican senator to announce his opposition to Shelton, who will also likely be opposed by all 47 members of the Senate Democratic Caucus, so the opposition of three more Republicans would effectively doom her nomination.
Romney, like several GOP senators, had previously expressed concerns about Shelton’s past support for linking the value of the dollar to gold, along with her inconsistent stances on the Fed interest rates. Romney was also one of four Republican senators who publicly opposed Trump’s plan to nominate Herman Cain to the Fed in 2019, blocking his path to the central bank.
Shelton narrowly won the approval of the Senate Banking Committee on Tuesday, which cleared her for a full Senate confirmation vote by a 13-12 margin. Despite earlier doubts about her viability, Shelton won over three GOP Banking Committee members — Sens. Richard Shelby (Ala.), Pat Toomey (Pa.) and John Kennedy (La.) — who had initially been skeptical of supporting her.
Each of the 12 Democrats on the panel voted against Shelton because of her relationship with the president and her lack of experience in banking.
“Her flip-flopping, policy beliefs and objections to Fed independence worry conservative and liberal economists alike — and as recently as February, it worried some of my Republican colleagues,” Democrat Sen. Sherrod Brown of Ohio, the top Democrat on the committee’ said.
“Dr. Shelton may not be able to imagine an economic crisis like the one we are in today, but I certainly can imagine how much worse it would be if she were on the Federal Reserve Board right now,” he said.
And you should expect such a statement from a Democrat, but not from someone like Romney who was elected as a Republican to support Republican ideas and nominees.
How do the people of his state, or his current state as he is a carpetbagger, feel about the man they elected to represent their interests?
Shelton has questioned the Fed’s power and has called on it to work more closely with Congress, which is the antithesis of what the swamp wants.
“It would be in keeping with its historical mandate if the Fed were to pursue a more coordinated relationship with both Congress and the president,” she said in a 2019 piece.
In a 2009 opinion piece for The Wall Street Journal about the housing bubble, Shelton questioned the need for a central bank.
“At this point, dickering over whether Alan Greenspan should have formulated a monetary policy in strict accordance with an econometrically determined ‘rule,’ or whether the Fed even has the power to influence long-term rates, raises a more fundamental question: Why do we need a central bank?” she said.
She also believes in returning to the gold standard and that would be a significant blow to swamp monsters like Romney. No wonder he does not want her.