Judy Shelton's nomination to the Federal Reserve Board was blocked in the Senate Tuesday, a stunning defeat for Senate Majority Leader Mitch McConnell, R-Ky., and a blow to President Donald Trump's drive to reshape the U.S. central bank before he leaves office.

WASHINGTON - A Republican senator on Tuesday said conservative economist Judy Shelton does not have the votes in the Senate to be confirmed to a seat on the Federal Reserve Board, raising the political stakes regarding President Donald Trump's nominee.