Treasury’s Bessent brings on Judy Shelton as counselor to advise on currency, China

Treasury Secretary Scott Bessent has appointed Judy Shelton as a counselor to advise on currency policy with a focus on financial conditions in China, according to CNBC. Shelton’s prior nomination to the Federal Reserve was blocked by the Senate over her policy views.

• Shelton to advise on currency policy with focus on China, CNBC reported.
• Senate blocked Shelton’s 2019 Fed bid over her policy views, CNBC said.
• Bessent also named David Zervos a counselor; no Senate approval needed, per CNBC.
• WSJ tallied seven Senate-confirmed Treasury departures through August, CNBC reported.