Judy Shelton has been approved by the Senate Banking Committee and seems likely to be confirmed by the full Senate to fill one of two vacancies on the seven-member Federal Reserve Board of Governors. President Donald Trump’s two previous picks, Herman Cain and Stephen Moore, failed in the Senate due to weak qualifications and various hints of scandal. Christopher Waller, Trump’s other current pick, is considered more conventional. Whether Shelton will succeed where Cain and Moore failed is unclear, but she does present the same problem that’s bedeviled Trump: He wants to keep interest rates low so that the economy ... (full story)