Judy Shelton, President Donald Trump's controversial nominee to the Federal Reserve, faces a razor-thin confirmation tally on Tuesday as the Republican-controlled Senate continues to focus its energies in the lame-duck session on confirming Trump's appointees.
Shelton is an unusually caustic critic of the Fed and is opposed by three GOP senators. Expected absences from two GOP senators who support Shelton could block her from advancing in Tuesday's vote. Vice President-elect Kamala Harris, D-Calif., did not vote in an earlier Senate tally, but if she returns for the vote on Shelton, the nomination could fail.
The situation is further complicated because Senator-elect Mark Kelly, D-Ariz., is set to join the Senate when the chamber returns from its Thanksgiving break. That could leave Shelton short of support for confirmation if Majority Leader Mitch McConnell, R-Ky., seeks a revote next month.
The Federal Reserve is seen in Washington, Monday, Nov. 16, 2020. President Donald Trump's choice for the Federal Reserve Board of Governors, Judy Shelton, could be approved by the Senate this week, according to Majority Leader Mitch McConnell's office. (AP PhotoJ. Scott Applewhite)
Shelton, a conservative economics commentator, is opposed by Senate Democrats, most economists, and many former Fed officials for her past support of the gold standard and for writings that questioned the Fed’s political independence. Under the gold standard, the U.S. dollar’s value is tied to gold. Under that approach, the Fed has had less leeway to adjust interest rates, even in a severe recession.
Shelton was approved by the Senate Finance Committee on a 13-12 party-line vote in July. Senate Democrats criticized her for appearing to flip-flop on many positions, including near-zero interest rates. She opposed ultra-low rates during President Barack Obama’s presidency but supported them after President Donald Trump took office and demanded that the Fed lower its short-term benchmark rate.
“Shelton has shown herself to be an economic weathervane, pointing whichever direction she believes the partisan winds are blowing," said Minority leader Chuck Schumer, D-N.Y.
Shelton’s path to Senate approval actually may have been eased by Joe Biden’s victory in the presidential election. Now that Trump has lost his reelection bid, there is no prospect for him to name Shelton to become chair when current Chairman Jerome Powell's term is up, which may have made it easier for GOP senators to support her nomination.
As a member of the Fed’s powerful board of governors, Shelton would vote on the Fed’s rate decisions and on banking regulation. The governors also vote on whether to institute emergency measures, such as the Fed’s decisions in March to start buying corporate bonds for the first time and institute a raft of programs to bolster financial markets.
Still, on her own, it’s unlikely that Shelton would have much effect on Fed policy, economists have pointed out. The central bank operates by consensus and Fed governors rarely dissent from interest rate decisions, though Fed bank presidents do. For now, the Fed has pegged its benchmark rate to nearly zero and Fed officials have said they expect it to remain there until at least 2023. Shelton has been picked to fill a term that expires in 2024.
DUBAI, United Arab Emirates (AP) — Protests sweeping across Iran neared the two-week mark Saturday, with the country’s government acknowledging the ongoing demonstrations despite an intensifying crackdown and as the Islamic Republic remains cut off from the rest of the world.
With the internet down in Iran and phone lines cut off, gauging the demonstrations from abroad has grown more difficult. But the death toll in the protests has grown to at least 72 people killed and over 2,300 others detained, according to the U.S.-based Human Rights Activists News Agency. Iranian state TV is reporting on security force casualties while portraying control over the nation.
Supreme Leader Ayatollah Ali Khamenei has signaled a coming clampdown, despite U.S. warnings. Tehran escalated its threats Saturday, with the Iran’s attorney general, Mohammad Movahedi Azad, warning that anyone taking part in protests will be considered an “enemy of God,” a death-penalty charge. The statement carried by Iranian state television said even those who “helped rioters” would face the charge.
“Prosecutors must carefully and without delay, by issuing indictments, prepare the grounds for the trial and decisive confrontation with those who, by betraying the nation and creating insecurity, seek foreign domination over the country,” the statement read. “Proceedings must be conducted without leniency, compassion or indulgence.”
U.S. Secretary of State Marco Rubio offered support for the protesters.
“The United States supports the brave people of Iran,” Rubio wrote Saturday on the social platform X. The State Department separately warned: “Do not play games with President Trump. When he says he’ll do something, he means it.”
Saturday marks the start of the work week in Iran, but many schools and universities reportedly held online classes, Iranian state TV reported. Internal Iranian government websites are believed to be functioning.
State TV repeatedly played a driving, martial orchestral arrangement from the “Epic of Khorramshahr” by Iranian composer Majid Entezami, while showing pro-government demonstrations. The song, aired repeatedly during the 12-day war launched by Israel, honors Iran's 1982 liberation of the city of Khorramshahr during the Iran-Iraq war. It has been used in videos of protesting women cutting away their hair to protest the 2022 death of Mahsa Amini as well.
It also repeatedly aired video of purported protesters shooting at security forces with firearms.
“Field reports indicate that peace prevailed in most cities of the country at night,” a state TV anchor reported Saturday morning. “After a number of armed terrorists attacked public places and set fire to people’s private property last night, there was no news of any gathering or chaos in Tehran and most provinces last night.”
That was directly contradicted by an online video verified by The Associated Press that showed demonstrations in northern Tehran's Saadat Abad area, with what appeared to be thousands on the street.
“Death to Khamenei!” a man chanted.
The semiofficial Fars news agency, believed to be close to Iran's paramilitary Revolutionary Guard and one of the few media outlets able to publish to the outside world, released surveillance camera footage of what it said came from demonstrations in Isfahan. In it, a protester appeared to fire a long gun, while others set fires and threw gasoline bombs at what appeared to be a government compound.
The Young Journalists' Club, associated with state TV, reported that protesters killed three members of the Guard’s all-volunteer Basij force in the city of Gachsaran. It also reported a security official was stabbed to death in Hamadan province, a police officer killed in the port city of Bandar Abbas and another in Gilan, as well as one person slain in Mashhad.
The semiofficial Tasnim news agency, also close to the Guard, claimed authorities detained nearly 200 people belonging to what it described as “operational terrorist teams.” It alleged those arrested had weapons including firearms, grenades and gasoline bombs.
State television also aired footage of a funeral service attended by hundreds in Qom, a Shiite seminary city just south of Tehran.
Iran’s theocracy cut off the nation from the internet and international telephone calls on Thursday, though it allowed some state-owned and semiofficial media to publish. Qatar's state-funded Al Jazeera news network reported live from Iran, but they appeared to be the only major foreign outlet able to work.
Iran's exiled Crown Prince Reza Pahlavi, who called for protests Thursday and Friday, asked in his latest message for demonstrators to take to the streets Saturday and Sunday. He urged protesters to carry Iran's old lion-and-sun flag and other national symbols used during the time of the shah to “claim public spaces as your own.”
Pahlavi's support of and from Israel has drawn criticism in the past — particularly after the 12-day war. Demonstrators have shouted in support of the shah in some protests, but it isn’t clear whether that’s support for Pahlavi himself or a desire to return to a time before the 1979 Islamic Revolution.
Online video purported to show protests ongoing Saturday night as well.
The demonstrations began Dec. 28 over the collapse of the Iranian rial currency, which trades at over 1.4 million to $1, as the country's economy is squeezed by international sanctions in part levied over its nuclear program. The protests intensified and grew into calls directly challenging Iran's theocracy.
Airlines have canceled some flights into Iran over the demonstrations. Austrian Airlines said Saturday it had decided to suspend its flights to Iran “as a precautionary measure” through Monday. Turkish Airlines earlier announced the cancellation of 17 flights to three cities in Iran.
Meanwhile, concern is growing that the internet shutdown will allow Iran's security forces to go on a bloody crackdown, as they have in other rounds of demonstrations. Ali Rahmani, the son of Nobel Peace Prize laureate Narges Mohammadi who is imprisoned in Iran, noted that security forces killed hundreds in a 2019 protest “so we can only fear the worst.”
“They are fighting, and losing their lives, against a dictatorial regime,” Rahmani said.
Associated Press writers Oleg Cetinic in Paris and Kirsten Grieshaber in Berlin contributed to this report.
In this frame grab from video obtained by the AP outside Iran, a masked demonstrator holds a picture of Iran's Crown Prince Reza Pahlavi during a protest in Tehran, Iran, Friday, January. 9, 2026. (UGC via AP)
In this frame grab from video taken by an individual not employed by The Associated Press and obtained by the AP outside Iran shows a fire as people protest in Tehran, Iran, Friday, Jan. 9, 2026. (UGC via AP)
In this frame grab from video taken by an individual not employed by The Associated Press and obtained by the AP outside Iran shows people during a protest in Tehran, Iran, Friday, Jan. 9, 2026. (UGC via AP)
This frame grab from a video released Friday, Jan. 9, 2026, by Iranian state television shows a man holding a device to document burning vehicles during a night of mass protests in Zanjan, Iran. (Iranian state TV via AP)
