Senate panel approves Trump's Fed nominee

WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump’s choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed.

Committee Chairman Sen. Mike Crapo, Republican of Idaho, said that Shelton had reassured him and other GOP senators that she recognizes the Federal Reserve’s independence from the rest of the government and also supports insuring bank deposits — widely accepted policies that she had previously questioned.

Crapo also noted Shelton’s comments during...