[Ed. – Can’t say I blame him. I do think he would have been a breath of fresh air. But why buy the trouble this move would clearly be, and the limitations it would impose? There are better things in life than being on government-chartered boards.]
I would have to let go of most of my business interests. I could not serve on any boards. I could not do any paid speeches. I could not advocate on behalf of capitalism, host my radio show or make appearances on Fox Business.
Without getting too specific about how big a pay cut this would be, let’s just say I’m pretty confident that if your boss told you to take a similar pay cut, you’d tell him where to go.
But I did like the idea of serving on the Fed! … As recently as last Monday I had told President Trump I was all in…
But the cost of doing this started weighing on me over the weekend. I also started wondering if I’d be giving up too much influence to get a little bit of policy impact.