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A28 u.s. news
Diaranson 18 november 2020

Controversial Fed nominee Shelton faces razor-thin vote

the chamber returns from rates. She opposed ultra-low As a member of the Fed’s
its Thanksgiving break. That rates during President Barack powerful board of governors,
could leave Shelton short of Obama’s presidency but sup- Shelton would vote on the
support for confirmation if ported them after President Fed’s rate decisions and on
Majority Leader Mitch Mc- Donald Trump took office banking regulation. The gov-
Connell, R-Ky., seeks a revote and demanded that the Fed ernors also vote on whether
next month. lower its short-term bench- to institute emergency mea-
Shelton, a conservative eco- mark rate. sures, such as the Fed’s deci-
nomics commentator, is op- sions in March to start buy-
posed by Senate Democrats, “Shelton has shown herself ing corporate bonds for the
most economists, and many to be an economic weather- first time and institute a raft
former Fed officials for her vane, pointing whichever of programs to bolster finan-
past support of the gold stan- direction she believes the cial markets.
dard and for writings that partisan winds are blowing,"
questioned the Fed’s po- said Minority leader Chuck Still, on her own, it’s unlike-
(AP) — Judy Shelton, tors. Expected absences from litical independence. Under Schumer, D-N.Y. ly that Shelton would have
President Donald Trump's two GOP senators who sup- the gold standard, the U.S. Shelton’s path to Senate ap- much effect on Fed policy,
controversial nominee to port Shelton could block her dollar’s value is tied to gold. proval actually may have economists have pointed out.
the Federal Reserve, faces from advancing in Tuesday's Under that approach, the Fed been eased by Joe Biden’s The central bank operates by
a razor-thin confirmation vote. Vice President-elect has had less leeway to adjust victory in the presidential consensus and Fed governors
tally on Tuesday as the Re- Kamala Harris, D-Calif., did interest rates, even in a severe election. Now that Trump rarely dissent from interest
publican-controlled Sen- not vote in an earlier Senate recession. has lost his reelection bid, rate decisions, though Fed
ate continues to focus its tally, but if she returns for the there is no prospect for him bank presidents do. For now,
energies in the lame-duck vote on Shelton, the nomina- Shelton was approved by the to name Shelton to become the Fed has pegged its bench-
session on confirming tion could fail. Senate Finance Committee chair when current Chair- mark rate to nearly zero and
Trump's appointees. on a 13-12 party-line vote man Jerome Powell's term Fed officials have said they
The situation is further com- in July. Senate Democrats is up, which may have made expect it to remain there un-
Shelton is an unusually caus- plicated because Senator- criticized her for appearing to it easier for GOP senators to til at least 2023. Shelton has
tic critic of the Fed and is elect Mark Kelly, D-Ariz., is flip-flop on many positions, support her nomination. been picked to fill a term that
opposed by three GOP sena- set to join the Senate when including near-zero interest expires in 2024.

Biden filling top White House team with campaign veterans

(AP) — President-elect Joe Biden dreds of new White House aides hired was taking the position at a news con- Richetti, Donilon, Tomasini and Ber-
announced a raft of top White in the coming weeks as Biden builds ference at a regional airport in eastern nal all have longstanding relationships
House staff positions on Tuesday, out an administration to execute his New Orleans, not far from his home. with the Biden family. Ricchetti was
drawing from the senior ranks governing vision. The Democrat will He said he will step down from his Biden’s chief of staff during Obama’s
of his campaign and some of his be inaugurated Jan. 20. congressional post in January. second term, while Donilon has ad-
closest confidants to fill out an Late last week, Biden tapped former vised him in various roles since 1981,
increasingly diverse White House senior campaign adviser Ron Klain to Richmond said he believes having and Tomasini served in communica-
leadership team. serve as his chief of staff. Biden’s ear in a West Wing office will tions roles for Biden when he was
enable him to help Louisiana and oth- still a senator. Bernal worked for Jill
Biden confirmed that former cam- The latest round reflects Biden’s er Southern states with similar prob- Biden during the 2008 Obama-Biden
paign manager Jen O’Malley Dillon stated commitment to diversity in lems, including poverty, poor health campaign, and in various roles for her
will serve as a deputy chief of staff, his staff — the team includes four outcomes and ineffective education. during both terms of the Obama ad-
while campaign co-chair Louisiana people of color and five women. “This new role will allow me to of- ministration.
Rep. Cedric Richmond and campaign “America faces great challenges, and fer advice to the president when he
adviser Steve Ricchetti will play se- they bring diverse perspectives and a wants it — maybe sometimes when Less clear is the shape of Biden's
nior roles in the new administration. shared commitment to tackling these he doesn’t want it,” Richmond said. Cabinet, which will be subject to
Richmond will leave his Louisiana challenges and emerging on the other Senate confirmation. Since winning
congressional seat to fill the White side a stronger, more united nation,” A former chair of the Congressional the election earlier this month, the
House job. Biden said in a statement. Black Caucus, Richmond was among president-elect has been hunkered
Biden’s earliest high-profile sup- down with Vice President-elect Ka-
The president-elect also announced O’Malley Dillon, 44, was the first porters and served as his campaign mala Harris near his home in Dela-
that Mike Donilon, a longtime Biden woman to manage a successful Dem- co-chair. Richmond has scheduled a ware preparing for the business of
confidant, will serve as a senior advi- ocratic presidential campaign. She Tuesday news conference in which governing. Biden will begin rolling
sor; Dana Remus, the campaign’s cur- is a veteran political operative who he’s expected to announce that he’s out his higher-profile Cabinet picks
rent general counsel, will be counsel worked on both of Barack Obama’s leaving his congressional seat. in the coming weeks.
to the president; Julie Chavez Rodri- White House bids. Rodriguez, grand-
guez, who was one of Biden’s deputy daughter of the late farmworker
campaign managers, will serve as di- union leader César Chávez, was na-
rector of the White House Office of tional political director on Sen. Ka-
Intergovernmental Affairs; and Annie mala Harris’ 2016 presidential team
Tomasini, who is currently Biden’s before coming to the Biden cam-
traveling chief of staff, will serve as paign, and served in the Obama ad-
the director of Oval Office opera- ministration.
tions.
Richmond, a 47-year-old African
Anthony Bernal will serve as a senior American, will be a senior adviser
adviser to Jill Biden, after he was her to the president and director of the
chief of staff on the campaign, and White House Office of Public En-
Julissa Reynoso Pantaleon, a former gagement, the role Valerie Jarrett
Obama Ambassador to Uruguay, as filled in the Obama administration.
her chief of staff. He’s expected to engage with Con-
gress and focus on the Black commu-
The new hires represent an initial nity and other minority groups. Rich-
wave of what will ultimately be hun- mond formally announced that he