President Trump took to Twitter last night to announce Christopher Waller and Judy Shelton as his new choices to fill the two vacancies on the Federal Reserve Board of Governors.
“I am pleased to announce that it is my intention to nominate Christopher Waller, Ph. D., Executive VP and Director of Research, Federal Reserve Bank of St. Louis, Missouri, to be on the board of the Federal Reserve,” he tweeted. “Prior to his current position, Christopher served as a professor and Chair of Economics at Notre Dame. I am pleased to announce that it is my intention to nominate Judy Shelton, Ph. D., U.S. Executive Dir, European Bank of Reconstruction & Development to be on the board of the Federal Reserve. Judy is a Founding Member of the board of directors of Empower America and has served on the board of directors of Hilton Hotels.”
The nominations of Waller and Shelton follow an unsuccessful effort to nominate Herman Cain and Stephen Moore to fill the vacancies. Cain, a former restaurant industry executive, served as the Chairman of the Federal Reserve Bank of Kansas City’s Omaha Branch, from 1989 to 1991 and as the Chairman of the Federal Reserve Bank of Kansas City from 1995 to 1996, while Moore is chief economist at the conservative-leaning Heritage Foundation. Both nominations came under criticism from Democrats and several Republicans for being too partisan, and Cain
voluntarily withdrew their names from consideration.