U.S. Treasury ​Secretary Scott Bessent has hired Judy ‌Shelton, President Donald Trump’s ​former pick ⁠for the Federal Reserve Board, as an adviser with a ‌particular focus on China, the Treasury Department said ‌on Friday (October 9, 2026).

Ms. Shelton previously ‌led ⁠the European Bank ⁠for Reconstruction and Development and the National Endowment for Democracy, according to ​the Treasury. ‌She has also worked as a fellow at the Independent Institute and ‌the Hoover Institution at ​Stanford University.

Donald Trump had tapped Ms. Shelton for a vacant ⁠Fed seat during his first term in the ‌White House, but her nomination hit roadblocks over bipartisan concerns that her perceived partisanship could imperil the Fed’s independence.

“Ms. Shelton will ‌advise the Secretary on currency ​policy, with a particular focus on evaluating financial ⁠conditions in China,” the Treasury said ⁠in a statement.