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Trump’s new Federal Reserve appointee called the US a ‘behemoth’ that couldn’t be trusted to oversee the US dollar

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President Donald Trump hasn’t had much luck with appointing people to the United States Federal Reserve.

In 2019, Trump tried to appoint Herman Cain and Stephen Moore to the high financial office. Both ultimately were forced to drop out of the running after being completely humiliated on the national stage. Now, according to CNN, Trump is trying again, though his recent appointee, Judy Shelton, doesn’t look to be working out either.

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“Our government is promising so much to so many and at the same time we let the government control the value of our money and all of that would really go against the grain with our Founders — who did not see it as the government’s task to supply everything to everybody,” said Trump’s appointee Shelton.

“They saw the government’s task to be to protect private property and that’s why they wanted limited government because they knew,” she added. “It’s just the nature of having power that causes people in power to abuse the privilege. I think we’re now at a point where we have to ask if we can even trust government to regulate the value of our money.”

It isn’t exactly a good look for a Federal Reserve governor to denounce the financial institution for which she’s been nominated. Shelton also raised eyebrows when she suggested a return to something like the gold standard.

Read the full report from CNN.


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Italy’s COVID-19 death toll tops 10,000 despite long coronavirus lockdown

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The coronavirus toll in Italy shot past 10,000 on Saturday and showed little sign of slowing despite a 16-day lockdown.

The 889 new fatalities reported in the world's worst-hit nation came a day after it registered 969 deaths on Friday -- the highest single toll since the COVID-19 virus emerged late last year.

Italy now looks certain to extend its economically debilitating -- and emotionally stressful -- business closures and the ban on public gatherings past their April 3 deadline.

"Is it time to reopen the country? I think we have to think about it really carefully," civil protection service chief Angelo Borrelli told reporters.

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2020 Election

Joe Biden has one key coronavirus question he wants answered: ‘Where are the tests, Mr. President?’

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Despite the inability to hold campaign rallies, the 2020 presidential campaign is continuing in spite of the COVID-19 coronavirus crisis.

With the response to coronavirus being the top public policy discussion in America, all eyes are focused on President Donald Trump's actions.

Trump had promised the nation that he would set up COVID-19 drive-thru testing sites in the parking lots of big-box retailers but has so far failed to deliver.

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Banks are causing a cash crisis by tightening lending standards during coronavirus crisis

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Major banks in America are tightening access to credit as coronavirus shutdowns put households across America in dire financial shape, The Wall Street Journal reported Saturday.

"Banks and financial-technology firms are starting to toughen their approval standards for new loans to consumers and small businesses. That means many people could find it hard to get credit just when they most need it, as the novel coronavirus pandemic puts thousands out of work," the newspaper reported.

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