Treasury Secretary Scott Bessent has hired Judy Shelton, a controversial economist who was unsuccessfully nominated to join the Federal Reserve board in President Trump's first term, as an adviser.

Shelton will advise Bessent on currency policy, "with a particular focus on evaluating financial conditions in China," the department said today.

Shelton is known for having advocated a return to the gold standard and expressing indifference to the Fed's traditional independence from the executive branch. Trump nominated her to the Fed board, but she failed to secure enough Senate votes to be confirmed as coronavirus quarantines kept some Republicans from voting.

She will join the Treasury at a challenging time as Bessent deals with rising U.S. bond yields and the departure of several key officials. (Read our deep dive into goings-on at the department here).