CNBC’s Jim Cramer is reporting that Larry Kudlow is the leading contender to head President Donald Trump’s National Economic Council:
Trump has not formally offered the job, but Kudlow is a leading choice of not only Trump but also some of his advisors to replace Gary Cohn as the president’s top economic advisor. A White House official, who declined to be named, confirmed to CNBC that Kudlow is on the list of candidates but said the administration did not have personnel announcements to make. Kudlow declined to comment.
Kudlow helped craft economic policy during the Reagan administration. When the Shock Exchange was just out of business school and working for GE Capital, Kudlow was a top economist for Bear, Stearns. There were only two people Wall Street listened to in the early ’90s – Alan Greenspan and Larry Kudlow. Mr. Kudlow had trumpeted the virtue of tax cuts for years. After the GOP’s big tax cut victory earlier this year this could be one of the virtues that drew President Trump to Mr. Kudlow.
The number one concern for Wall Street is the impact of President Trump’s proposed tariffs on corporate profits and the stock market. A well-known supply side economics expert, Kudlow should be able to reassure Wall Street that economic policy going forward will not be anti-Wall Street. Sources suggest Mr. Kudlow would accept the job is offered.