This is CBS Eye on the World.

Here's John Batchelor.

I welcome Veronique de Reggie of the Mercatus Center,

my guide on matters as wavy as the Federal Reserve Board,

because we have news in these last hours, the President

has nominated for the Federal Reserve Board, Stephen Moran, who is right now at the White

House Council of Economic Advisers. The appointment is till January 31, 2016.

Veronika, a very good evening to you. The Federal Reserve has been in the news recently because of a dispute between the White

House and Chairman Powell about interest rates.

That's traditional and ceremonial.

Suddenly a chair opens up and there is speculation it'll be this dignitary or that VIP and perhaps the president will use it to

challenge Mr. Powell.

None of that has happened.

Instead, a man already well employed at the White House for the Council of Economic Advisers

is now moving into the Federal Reserve Board where for the next six months he doesn't need to say

anything. Is that a positive? Can you figure this out for me? Good evening to you.

Good evening, John. I cannot figure this out for you, but I can tell you what my gut feeling is

telling me. And I've literally no way of knowing that this is correct, but let's speculate that maybe Stephen

Moran, maybe that's his dream job, but it's only his dream job for six months and he's going to

have to go through confirmation from the Senate, which is going to be painful and all of that.

Or maybe he just doesn't want, he doesn't like his job at the Council of Economics,

of Economic Advisor anymore. And, and, you know, maybe he just doesn't believe some of the

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