HERE’S THE REAL REASON STEPHEN MOORE WON’T BE ON THE FEDERAL RESERVE: Thomas McCardle, writing at Issues & Insights, explains: “The Federal Reserve is adept at using the complexity of money and banking to defend itself from attack and reform.

“It’s a quintessential example of elite Washington bureaucracy maintaining power by convincing the people that taking it away from the experts would mean the end of the world.” McCardle has much more to say and it’s worth reading it all here.

Full Disclosure: I know Stephen Moore. Stephen Moore is a friend of mine. I stick by my friends.