Dudley: Fed Pick Shelton Seems to 'Bend With Political Wind'

The transcript discusses Judy Shelton's economic theory, which is not clearly understood or aligned with traditional economic schools. It highlights the political implications of her potential confirmation to the Federal Reserve, noting her inconsistent views on monetary policy. The discussion also covers the Federal Reserve's decision-making process, emphasizing that individual unorthodox views have limited impact due to the committee's consensus-driven approach.

What is the main concern about Judy Shelton's economic theories?

• They are too modern.

• They are widely accepted.

• They lack clarity and consistency.

• They are too traditional.

Which economic stance has Judy Shelton supported in the past?

• Flexible exchange rates

• Modern monetary theory

• Gold standard

• High interest rates

Why is it important for the Federal Reserve to remain independent from political influence?

• To ensure consistent economic growth

• To maintain unbiased monetary policy

• To support government policies

• To increase political power

How does the Federal Reserve typically make decisions?

• Through a single leader's decision

• By following government directives

• By consensus within a committee

• Based on public opinion

What might be a consequence of confirming Judy Shelton to the Federal Reserve?

• Rapid economic growth

• Delayed appointments by Joe Biden

• Increased political influence on the Fed

• Immediate changes in monetary policy