Trump plans to appoint Larry Kudlow as an economic adviser and deputy to Gary Cohn. The president offered the economist late on Tuesday, and minutes earlier Kudlow confirmed this and said he would take the post with great pleasure.
Kudlow is at 70 and replaces Gary Cohn, who resigned after losing his fight against import tariffs on steel and aluminum. Larry is also a defender of free trade and generally opposes tariffs.
Kudlov helped create an economic policy during the Reagan administration, and today he unofficially advises Trump on tax reform and other economic issues.
Wall Street accepts the news positively, as Kudlow is a defender of free trade and will likely mitigate President Trump's initial plans.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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