judy shelton. >> one person is really involved in this is my great friend judy shelton. k she would make a great hard money, king dollar, federal reserve appointment. >> you want someone from outside the world of academic economy. i think -- miss shelton. jude judy shelton a fabulous -- >> her name gets tossed around. >> joining us right now is judy shelton. welcome! >> well, that was very nice of you! i respect the people you showed enormously, and i am much -- highly complimented and grateful that they would say something like that. >> judy, my question, are you going to take us back to the gold standard if you're on the fed? >> well, i don't think it would be a bad move. i don't think it's something you do overnight. i actually think, if we had gold as some kind of a universal reference point, it would be the beginning of a more stable monetary platform, certainly for trade. i think you need to have sound money in order to have genuinely free trade. but you also have to go to the issue of what we call domestic monetary policy. it really should be the same thing. we're

among them are david nason and judy shelton who is someone who has worked at the atlas network. she is someone who has advocated for the role of gold in monetary standard. i know that i saw her at steven mnuchin's confirmation hearing, and when i talked to her she told me she is definitely interested in joining the fed. she's another person to keep an eye on. >> ylan, 30 seconds left, what's the latest you're hearing of the fiduciary role and whether that can be delayed in terms of its implementation? >> reporter: well, actually, the administration finally submitted a proposal to the omb in order to actually delay that ruling. it said they were going to go for a delay of 180 days. they didn't do that previously but now they submitted rule making, a draft proposal in order to do so. we'll see if the omb actually approves their proposal and if that goes through perhaps some time next week. you can see the administration try to delay this rule but we'll have to see whether or not a court would uphold it again. >> ylan, thanks very much. >> want to save it for next time? >> well, i

it could be judy shelton, hard money, gold standard.e've spoken to john allison who would like to do away with the fed and then we talked about if there needs to be more business people and practitioners which might imply nothing in terms of monetary theory and just bring a more pragmatic perspective. how do you think that might shake out here? >> trump has a dilemma on his hands, doesn't he? he really does need low interest rates to pass through a lot of the more aggressive legislation that he's got proposed. if the borrowing costs of the country skyrocket, that's not going to be good for his first two years in office, call it, but i do hope that given some of the appointments that we've seen, that he does put more pragmatists in. if you read the original 1913 federal reserve act, it actually mandates that the president appoint people from a diverse number of industries to the federal reserve board and it's clearly straight from that initial philosophy. >> as i understand it, the federal reserve act had 12 districts, 11 districts, beca