However, the Fed meets next week and it is widely believed it will hike interest rates. Shelton, though, doesn’t believe a small rate increase is going to derail the rally because it is already priced in.
If there is turmoil, then “things are a lot more fragile than we thought,” she said.
Shelton, co-director of the Sound Money Project at Atlas Network, is known to favor the gold standard and calls the U.S. monetary system an “anti-system.”
She’s also been touted by some as a good candidate to fill empty Fed spots. Jim Grant, founder and editor of Grant’s Interest Rate Observer, told CNBC recently he likes Shelton as a replacement for Chair Janet Yellen when she retires in early 2018.
Shelton, however, had no comment on whether she is up for or is considering taking any position within the central bank.
“It’s a privilege to be involved in the transition effort. I’m very excited for the future for our country. I think that the economic prospects are really looking up, and that’s my main focus at this point,” she said.