Senate panel approves Trump’s controversial Fed nominee

WASHINGTON (AP) — The Senate Banking Committee approved President Donald Trump’s controversial nominee for the Federal Reserve, Judy Shelton, on a party-line vote Tuesday. Committee chairman Sen. Mike Crapo, Republican of Idaho, said that Shelton had reassured him and other GOP senators that she supports the Federal Reserve’s independence from the rest of the government and also supports insuring bank deposits, policies she has previously questioned.