Washington, D.C. - U.S. Senator Pat Toomey (R-Pa.) issued the following statement announcing he intends to support Dr. Judy Shelton's nomination to the Federal Reserve Board of Governors:

"Since the hearing, I have corresponded and spoken further with Dr. Judy Shelton about her views on monetary policy. She clarified to me that she will oppose using monetary policy for the purpose of devaluing the dollar. It would have been imprudent and contrary to statutory authorization for the Federal Reserve to go down this path. Given her assurances, I intend to support Dr. Shelton's nomination."

You may read Dr. Shelton's letter to Senator Toomey that further addresses her views on monetary policy here.