Thread by @sam_a_bell

Judy Shelton is ineligible to join the Board of Governors. Governors must come from separate federal reserve districts. Lael Brainard already represents the Richmond district.

Some of you will remember that this is how Peter Diamond was blocked.

"In selecting the members of the Board, not more than one of whom shall be selected from any one Federal Reserve district" federalreserve.gov/aboutthefed/se…

federalreserve.gov/aboutthefed/bi…

"The Richmond Fed is headquarters for the Fifth Federal Reserve District, which includes Maryland, Virginia, North Carolina, South Carolina, and most of West Virginia."

Speech from @SenShelby: shelby.senate.gov/public/index.c…

"“Finally, I am compelled to again point out that Dr. Diamond is legally not eligible to serve."

@SenShelby .@MarkCalabria (former Shelby senate staffer) “There is no plausible reading of the law which should allow Diamond’s candidacy to proceed.

Objecting to Diamond’s nomination on these grounds is no mere technicality. It is rooted in the very substance of the statute."

@SenShelby @MarkCalabria .@SenShelby "The law requires geographic diversity among members of the Board of Governors to ensure that no one region gains too much influence,” Shelby said in a statement last week to Bloomberg News. “We should follow the law.” bloomberg.com/news/articles/…

@SenShelby @MarkCalabria here's video of Shelby on the residency requirement

@SenShelby @MarkCalabria

According to local press articles, Judy Shelton has lived in Virginia for a long time. (I don’t want to tweet out / link to article that has specific info about her residence).

2 years ago she was nominated for another position. She was “of Virginia”

congress.gov/nomination/115…