Treasury Secretary Scott Bessent has appointed Judy Shelton, a former President Donald Trump nominee to the Federal Reserve, as a senior adviser focused on China’s financial conditions and currency policy. The Treasury Department announced Friday, Oct. 9, that Shelton will serve as a counselor in Bessent’s office. The department said she will advise him on currency issues, with particular attention to evaluating financial conditions in China. The position does not require Senate confirmation. Shelton’s appointment returns her to a prominent economic policy role after her 2020 nomination to the Federal Reserve Board failed to advance in the Senate. Her nomination faced opposition from both parties. She is also known for advocating that the dollar’s value be tied to gold, a system the United States fully abandoned in 1971. Shelton has said such a shift could not happen in the near term. Supporters argue a gold standard could make the dollar more stable, while many economists warn that it could constrain the Federal Reserve’s ability to respond to financial crises. The appointment places a prominent advocate of a long-debated monetary policy inside the Treasury team assessing China’s financial conditions. The department has not announced further details about Shelton’s responsibilities.