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Republicans expect Trump to withdraw controversial Fed nominee | TheHill

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Senate Republican sources expect President TrumpDonald John TrumpBiden assures supporters the primary is still 'wide open' in lengthy phone call: report Warren: We are watching a descent into authoritarianism Collins: Trump 'angered by impeachment' MORE to withdraw his nomination of Judy Shelton to serve on the Federal Reserve Board following bipartisan resistance on Capitol Hill.The White House has not made a final decision, since Trump would first need to sign off on the reversal, but Republican sources say it would be “desirable” for her to withdraw from consideration and that her nomination is “trending” in that direction.“She’s being pulled,” said a Republican senator.Senate GOP aides have indicated to colleagues privately that they expect Shelton to withdraw, according to one Senate aide familiar with the discussions.If Shelton pulls out, she would would be Trump's third Fed nominee derailed by Senate Republican opposition, and the fifth overall, counting informal picks as well.GOP senators previously quashed Trump's selections of entrepreneur Herman CainHerman CainOn The Money: Fed chief warns Congress on deficits | Trump blames Powell after Dow dips slightly | Trump withdraws nomination of former US attorney for Treasury post Trump Fed nominee stirs controversy ahead of hearing Trump formally announces intent to nominate Waller, Shelton to Fed MORE and conservative commentator Stephen MooreStephen MooreOn The Money: Fed chief warns Congress on deficits | Trump blames Powell after Dow dips slightly | Trump withdraws nomination of former US attorney for Treasury post Trump Fed nominee stirs controversy ahead of hearing Sunday shows — Spotlight shifts to Iowa caucuses MORE for the Fed in 2019 before the president could formally nominate them.The White House press office on Thursday afternoon, however, pushed back on talk that Shelton’s nomination is doomed.“The nomination of Judy Shelton and Christopher Waller are not being pulled. But beyond Trump and Kudlow, her support within the administration is thin, according to a Senate aide briefed on the nomination.Kudlow was also a strong supporter for Moore’s nomination, which the White House withdrew last year after hitting robust GOP resistance on Capitol Hill.Shelton, a former Trump campaign adviser, was nominated to the Fed in January after the president first announced his intent to appoint her in July.Senate Republicans on the Banking Committee were not impressed with her performance at a confirmation hearing Thursday morning, which senators said would be an important test for her nomination.Lawmakers from both parties criticized her at the hearing for supporting the gold standard, reversing her views on interest rates after Trump's election and defending the president's attacks on the Fed and its chairman, Jerome Powell.“I don't claim to be in the mainstream of economists,” Shelton said in her defense.She vowed to “strengthen the discussion” and work closely with the Fed's leaders.Asked to rate Shelton’s performance Thursday, Sen. Richard ShelbyRichard Craig ShelbyTrump Fed nominee stirs controversy ahead of hearing GOP senators defend Sondland, Vindman ousters: They weren't 'loyal' Romney shocks GOP with vote to convict MORE (R-Ala.), a senior member of the Banking Committee, replied tersely: “She performed.”“I have a lot of concerns, especially even after the hearing.

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