Why Trump is really struggling to find suitable Fed picks

His latest potential nominee might thread the needle, though

President Trump.
(Image credit: Illustrated | gangliu10/iStock, eyewave/iStock, Mark Wilson/Getty Images, FabrikaCr/iStock, lucielangr/iStock, koosen/iStock)

President Trump is having a rough go when it comes to filling seats on the Federal Reserve. In the first part of his presidency, Trump filled three Fed spots, and promoted Jerome Powell to Fed Chair. But more recently, Trump's gone zero-for-four: His last two nominations, Marvin Goodfriend and Nellie Liang, ran aground in the Senate. Then Herman Cain and Stephen Moore so horrified mainstream policymakers that the White House never even officially nominated them.

Trump's earlier Fed nominees were thoroughly mainstream, in both their background and their views on monetary policy. But Cain and Moore represented a far more, well, Trump-ian approach. The White House's latest potential pick, economist Judy Shelton, suggests Trump intends to stick to the latter course.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.