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The race to be the next Fed chair is getting interesting

Judy Shelton, who has been nominated to the central bank’s board of governors, is scheduled to testify before the Senate today.

She is a contentious choice for the job, Jeanna Smialek of the NYT notes:

• Ms. Shelton has questioned whether America needs the Fed at all.

• She favors pegging the value of the dollar to something like gold, an idea the U.S. abandoned decades ago.

• She’s seen as open to bending her ideological positions to please President Trump, eroding the Fed’s political independence.