Shelton is President Trump’s nomination for a vacant FED position. At the same time is it clear that wealthy Republican Senator Mitt Romney is no fan of President Trump. He refused the help of Trump with the election campaign for the Presidency. Which likely cost him the Presidency. During the Trump impeachment, Mitt Romney followed the Democrats in one complaint. But not in the other. Being the only Republican going along. Now he made it clear he is not going to go along with Sheldon within the FED.
Mitt Romney is not providing any reason why. Is this due to the terrible relationship? Then he is simply ignoring the Sheldon qualifications.
Mitt Romney is one of the wealthiest people in the USA. He accumulated 174 million USD as a Bain Capital Founder. The firm was active in several Leveraged Buy-Outs.
But there could be another reason for his opposition. Sheldon is an opponent of current FED policies. She will not make a bit of difference. But it could simply mean the end of low-interest rates loans. The core of the LBO industry.
But Mitt Romney is not alone. Collins is also against. Also a rich person. But also an influential person. Due to the capacity to ask questions.
Collins came with clarification. Sheldon was asking questions. Which was wrong to do during the crisis. Unfortunately, they didn’t notice that the crisis came from political decisions.