President Trump's next Federal Reserve pick could pose an existential problem for the central bank. Judy Shelton, a former economic advisor to Trump, has not been officially nominated. But her opinions are already making waves. She wants to return to some sort of a gold standard. And in a recent interview, Shelton described the Fed's power to set interest rates as a kind of Soviet-style central planning: "How can a dozen, slightly less than a dozen, people meeting eight times a year, decide what the cost of capital should be versus some kind of organically, market supply determined rate?" she asked, "We might ... (full story)