Former Fed Nominee Judy Shelton Calls Trump's Challenge to the Federal Reserve 'Very Gratifying' and 'Long Overdue'

Shelton's Support for Trump: Judy Shelton, former economic advisor to Donald Trump, praises his challenge to the Federal Reserve, calling it a necessary correction to its excessive power and influence in financial markets, which she believes hinders small businesses.

Criticism of Fed Policies: Shelton criticizes the Fed's restrictive interest rates and the system of paying interest on excess reserves, arguing that these policies discourage lending and exacerbate inequality, particularly in the aftermath of the 2008 financial crisis.

Concerns from Warren and Griffin: Senator Elizabeth Warren warns that Trump's interference with the Fed could lead to increased costs for consumers, while billionaire Ken Griffin labels Trump's actions as a "risky game" that could undermine America's credibility.

Potential Economic Impact: The political pressure on the Fed, as highlighted by both Shelton's support and the criticisms from Warren and Griffin, raises concerns about inflation and the broader economic implications for consumers and financial stability.