>Larry Kudlow replaces Roger Ferguson as Vice Chair of the Federal Reserve
Aside from the fact that it'd be hilarious to have Kudlow in such high office - I love Michael Thomas' description of him as having the manner and appearance of a 1930s Argentine tango instructor - what would the practical difference be? Kudlow would probably be arguing for a neutral-to-easy Fed policy; he's no fan of tight money just because growth is strong and unemployment is low.
Doug