Judy Shelton, whose controversial economic ideas led the Senate to block her nomination to the Federal Reserve, has been appointed a counselor to Treasury Secretary Scott Bessent. The Treasury said Shelton will advise Bessent on currency policy, "with a particular focus on evaluating financial conditions in China." Shelton is not known as a China expert. She authored "Money Meltdown", about the need for a unified international monetary regime, in 1988, followed by "The Coming Soviet Crash" the next year. Prior to joining Treasury, Shelton served as a senior fellow at the Independent Institute, a free-market think tank, and, before that, at the Hoover Institution at Stanford University. She holds a Ph.D.
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