Monday, 15 October, 2018

TV pundit is next top USA economic adviser

TV pundit is next top USA economic adviser TV pundit is next top USA economic adviser
Lindsey Cook | 17 March, 2018, 02:08

Two years ago, he supported Mr Trump's presidential campaign, in particular the pledges to renew American infrastructure and cut taxes, becoming an informal Trump adviser in the process. "I must say, as somebody who doesn't like tariffs, I think China has earned a tough response", he said, adding that he hoped a coalition of countries could act against China on trade.

"China has not played by the rules for a long time". That's the way I'd like to see.

President Donald Trump's newly appointed National Economic Council Director Larry Kudlow was once hired by the Reagan administration for his low tax and balanced budget approach to governing. He was also one of the authors of an article that argued such tariffs were akin to sanctions on the U.S. itself. He said Mr Kudlow had "come around" to view tariffs as a useful tool for renegotiating trade deals.

Kudlow, was an economist at Bear Stearns after leaving the Reagan White House and then, until his appointment by Trump, a pundit on CNBC and in other media.

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Writing in the Washington Post, Jared Bernstein, a former adviser to Barack Obama's vice president, Joe Biden, described Kudlow as "a die-hard, supply-side, trickle-down tax cutter" wedded to a strong dollar. He left that position in the early 1990s to treat an addiction to alcohol and drugs, after which Kudlow worked at Laffer's research and consulting firm. But Bernstein said Kudlow was flexible enough to listen to opposing views on issues such as employment.

In an interview with CNBC on Wednesday, Mr Kudlow said he was relieved that some countries would get exemptions from the tariffs, did not think they would hurt the broader United States economy, and believed China deserved to face tough action over trade. "But any such conversions are new for Kudlow", Bernstein wrote.

Rabobank analyst Bas van Geffen said it could have been worse.

Mr Kudlow, 70, told Reuters that Mr Trump offered him the job on Tuesday evening and he accepted.

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