Judy Shelton for Fed board, return to the gold standard
Gesara.news » News » Judy Shelton for Fed board, return to the gold standardNews Date: July 12, 2020
Senate banking panel to resume considering Judy Shelton for Fed board.
The nomination of Shelton appeared in jeopardy earlier this year as Republicans and Democrats on the banking panel expressed concerns over her views on the independence of the Fed from the White House, as well as her advocacy in the past for returning the United States to the gold standard.
The gold standard isn't perfect. No system is. But it has many virtues. A strong case can be made that it's the best of all feasible institutional alternatives. Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.
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The administration is also looking at cuts to income taxes for lower and middle-income individuals, as well as cuts capital gains taxes.