Trump Fed pick wants to revive the gold standard. Here’s what that means

As President Donald Trump named his picks to fill two influential seats on the Federal Reserve’s Board of Governors, the price of gold surged. That may be because one of the them, Judy Shelton, is a believer in the return to the gold standard, a money policy abandoned by the U.S. in 1971…

Source: https://www.cbsnews.com/news/trumps-fed-pick-judy-shelton-gold-standard-explained/