Trump picks TV commentator Kudlow to succeed Cohn as economic adviser

WASHINGTON-Reuters

U.S. television commentator and conservative economic analyst Larry Kudlow will replace Gary Cohn as President Donald Trump’s top economic adviser, the White House and Kudlow said on March 14, adding another loyalist to Trump’s inner circle.

Kudlow, a Republican who served as an economic adviser to former President Ronald Reagan in the 1980s and also worked on Wall Street, is an ardent advocate of “supply side” economic policies that focus on cutting taxes and reducing regulations.

Kudlow, 70, told Reuters that Trump offered him the job on Tuesday evening and he accepted. White House spokeswoman Sarah Sanders confirmed that Trump had offered him the position. A formal announcement could come as early as March 15.

Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, said investors on Wall Street generally viewed the pick positively because of Kudlow’s Washington experience and his policy views.

“He’s generally regarded to be more of a free trade advocate than (White House adviser Peter) Navarro or the others,” Zaccarelli said.

“Larry Kudlow is very much a free trader,” said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco. “This shows that (Trump) wants to hear the other side of the argument as well.”