Here is what the potential reserve of the Federal Reserve, Trump, claims to have brought to the central bank

Bloomberg TV

• Judy Shelton argued for a radical change in the way interest rates are set and to return to a Bretton Woods-style monetary system, policies that she believes would create optimal conditions for growth.
• In an interview with Markets Insider, Shelton stressed the importance of "new thinking" within the Fed.
• "I think we have to say, what is the role of central banks in a productive economy?" she says. "And do they help or hurt? I think it's legitimate to say: are they too dominant or does it prove that they do not serve that a small segment of the private sector? "

Judy Shelton, a board member of the potential Federal Reserve Board, said she would take an unconventional approach to monetary policy if she were appointed to this position, potentially raising issues that she believes would be useful to the central bank.

In May, the New York Times and Bloomberg announced that Shelton was being validated by the Fed. She told Markets Insider that the Office of Presidential Staff had contacted her. It could possibly occupy one of the two seats open to the Board of Governors. Filling these positions has been a challenge for President Trump, whose two previous choices have been removed from the list after being reviewed by bipartisan economists and legislators.

Shelton, a former adviser to the Trump campaign and the transitional team, is a long-time critic of the Federal Reserve and what she has called her "Soviet" power in the markets.

"I think it's good to have new ideas and challenges," she said in an interview with Business Insider. "It's hard to do."

"I think we have to say, what is the role of central banks in a productive economy?" she says. "And they help or hurt? I think it's legitimate to say: are they too dominant or does it prove that they only serve a small segment What is their interaction with governments and what is their impact on the currency? "

Shelton advocated a radical change in the way rates are set, eliminating the interest the Federal Reserve pays on excess reserves held by banks. She also expressed her support for the return to a Bretton Woods-type monetary system, which ended after the United States abandoned the gold standard in 1971.

According to her, these policies would create optimal conditions for growth, even if they would not be implemented immediately.

"I mean, I would say that in the current structure, I do not believe that it is necessary to remove the carpet of people and enter to try to blow everything up," she said. "I'm thinking about consistency and progress towards a better place, I'd like to have conversations, ask the Fed, and I'm very happy to see the Fed doing it already, doing a self-badessment."

Read the full interview with Shelton here:

It is said that the White House is seeking a seat on the Fed for Judy Shelton. She told us what she would bring to a central bank she had long criticized for policies.