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Monetary

NBC reports that Judy Shelton faces obstacles to confirmation:

pressing questions — whether she could be a future chair at the central bank, and if she even will be able to serve if confirmed.

The first is largely a political question and would only come into play if Trump continues to be dissatisfied with Chairman Jerome Powell and chooses not to renominate him when his term expires in 2022.

The second, though, is a sticky legal question and centers around a provision in the Federal Reserve Act that prohibits two governors from the same district. Governor Lael Brainard hails from the same Richmond region, though it’s not clear that there wouldn’t be a way around the rule.

Tax

On Fox News, Director Kudlow says Tax Cuts 2.0 could feature a middle class windfall.

On Fox Wilmington, a pork farmer tells Trump his tariffs must come down.

Spending

Reason: What the failure of The Great Society can teach us.

Amity Shlaes discusses her new book on The Great Society.         

The American Thinker discusses the not-so-great society.