Trump Chooses Free Market Advocate for National Economic Council Director
President Trump has been dangling the name of Larry Kudlow as a possible replacement for Gary Cohn at the National Economic Council for days now. USA Daily Times interviewed Price of Business radio host (and an editor at USADT), Kevin Price, about the choice of Kudlow, who was formally given the offer today by Trump and he has accepted.
“Kudlow is a brilliant free market thinker,” said Price. “Although I have not met him personally, I know many who have worked with him and I have read much of his work over the years. He understands free market economics. He’s a surprising choice because his views differ wildly with Trump on several very important issues, including trade and immigration. It makes me hopeful that his appointment will bring the President to a more free market position on this issues.”
Fox News is reporting:
President Donald Trump offered Larry Kudlow, a Reagan administration adviser and free-market economist, the position of National Economic Council director on Wednesday, FOX Business has learned.
The position was recently vacated by Gary Cohn, a former president of Goldman Sachs. Cohn left his post with the administration last week after the president signed an executive order imposing tariffs of 25% on steel and 10% on aluminum.
During an interview with FOX Business’ Maria Bartiromo last week, former White House press secretary Sean Spicer said Kudlow, 70, would be a good pick because he understands the president, has a strong business sense and could keep the markets calm.
Here’s what you need to know about Kudlow:
Career
The economist began his career on Wall Street, working for the Federal Reserve Bank of New York.
He later served as a chief economist and senior managing director at Bear Stearns, a New York-based global investment bank that failed during the 2008 financial crisis.
Kudlow served as the associate director for economics and planning in the Office of Management and Budget (OMB) during former President Ronald Reagan’s first term.
He advised President Donald Trump informally during the 2016 election cycle. Since Trump’s election, Kudlow has praised Trump’s tax cuts, saying the legislation would “boost business investment, wages and take-home family pay.”
Kudlow is a self-described “free market, supply-side economist.”
Rehab Kudlow confessed to having a drug problem after he resigned as chief economist at Bear Stearns in 1994. He underwent multiple rounds of rehab for cocaine and alcohol abuse. At the time, his wife petitioned the court for a divorce and to prevent Kudlow from accessing his Bear Stearns retirement account to purchase drugs, according to The New York Times.
Media personality… (read more)
Kudlow has spend much of his career at CNBC. This is how it reported on the story:
