Judy Shelton: Fed Can Only ‘Kill the Economy’ With ‘Whatever It Takes’ Approach

Judy Shelton testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on their nomination to be member-designate on the Federal Reserve Board of Governors, in Washington, on Feb. 13, 2020. Sarah Silbiger/Getty Images

Federal Reserve Chairman Jerome Powell and U.S. central bank officials have been on a crusade to navigate the U.S. economy from 40-year-high inflation to achieve a soft landing and avert a recession.

Can the Fed achieve this ostensibly difficult objective?