President Donald Trump’s prospective Federal Reserve nominee sees an economy that is booming and thinks the central bank should not be a force standing in its way.
Judy Shelton told CNBC that Friday’s strong jobs report is a good example of fiscal policy working, though she has expressed reservations about the Fed’s actions.
The June nonfarm payrolls increase of 224,000 was “fantastic,” Shelton told CNBC’s Rick Santelli. “I think it shows that the pro-growth economic agenda under the administration is working. I think it shows that economies really do respond to positive policies that help create a better environment for businesses to be successful so they can hire people.”
In remarks after the report came out, Trump again blasted the Fed, saying “we don’t have a Fed that knows what they’re doing.” Trump repeated his claim that the economy would accelerate like “a rocket ship” with lower rates, and has said in the past that the Dow Jones Industrial Average would be 10,000 points…