Murkowski to back Trump’s Fed nominee Judy Shelton

Sen. Lisa Murkowski (R-Alaska), a pivotal moderate Republican vote, says she will vote to confirm Judy Shelton, President Trump’s controversial nominee to the Federal Reserve.

“I’ve had an opportunity to talk to Judy Shelton and I’m going to be supporting her,” Murkowski told reporters Thursday afternoon.

Murkowski’s support signals that Shelton will have enough votes to secure confirmation when GOP leaders bring her to the Senate floor, which could be as soon as next week.

GOP Sens. Susan Collins (Maine) and Mitt Romney (Utah) have announced their opposition to Shelton.

Shelton’s nomination has run a tortuous path through the upper chamber as GOP lawmakers have raised concern over her past support for returning to the gold standard and using monetary policy and inflation to make American exports more competitive.

Her past GOP critics, including Sen. Pat Toomey (Pa.), the incoming chairman of the Senate Banking Committee, softened their stances and announced their support after Shelton backed away from her earlier statements on the gold standard and publicly agreed that the Fed’s policymaking power is limited.

Romney, however, told The Hill on Thursday afternoon he remains opposed to Shelton joining the Fed.