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Republican US Senator Susan Collins said in a statement that she intends to vote against the nomination of Judy Shelton to the board of the Federal Reserve, as reported by Reuters. 

“Ms. Shelton has openly called for the Federal Reserve to be less independent of the political branches, and has even questioned the need for a central bank,” Collins explained in her statement. “This is not the right signal to send, particularly in the midst of the pandemic, and for that reason, I intend to vote against her nomination if it reaches the floor.”

Last week, another Republican Senator, Mitt Romney, voiced his opposition against the nomination of former Trump campaign adviser Shelton to the FOMC. 

Market reaction

This headline doesn’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 ındex (SPX) was up 0.58% on a daily basis at 3,234.