Larry Kudlow, a conservative commentator and host on CNBC, is reportedly President Trump’s new pick to replace former Goldman Sachs executive Gary Cohn as national economic council director, according to CNBC’s reporting.
Kudlow would seem to be somewhat in line with his predecessor, who was a creature of Wall Street. Both are fierce defenders of free trade and low taxes.
Kudlow’s support for traditional Republican fiscal policy may quiet concerns among congressional Republicans and investors that the president will surround himself with protectionists who champion increased tariffs and strike down trade deals.
Earlier this month, Kudlow expressed deep skepticism over Trump’s new steel and aluminum tariffs, describing them as a “regressive tax on low-income families.”
“Since so many of the things Americans consumers buy today are made of steel or aluminum, a 25 percent tariff will likely get passed on to consumers at the cash register,” he wrote with colleagues on March 3. “Ronald Reagan in the 1980s invoked anti-dumping provisions against Japanese steel. It was one of his few decisions he later confessed he wishes he hadn’t made. Trump will come to learn the same thing, and we hope it is sooner, not later.”
While Kudlow may not see eye-to-eye with the President on trade, he has previously praised him on taxes. “Trump and the GOP are on the side of the growth angels with the passage of powerful tax-cut legislation to boost business investment, wages, and take-home family pay,” Kudlow wrote after the Republican tax bill passed in December.
Kudlow was an informal adviser to the Trump campaign during the 2016 election, and previously served in the Reagan administration, where he worked on developing the administration’s economic and budget policy.
He started his career at the Federal Reserve Bank of New York, and previously worked as chief economist and managing director of Bear Stearns.