World

Trump picks TV commentator Kudlow as economic adviser

WASHINGTON US television commentator and conservative economic analyst Larry Kudlow will replace Mr Gary Cohn as President Donald Trump's top economic adviser, the White House and Mr Kudlow said on Wednesday, adding another loyalist to Mr Trump's inner circle.

Mr 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.

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

White House spokesman Sarah Sanders confirmed Mr Trump offered him the position.

POSITIVE

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

"He is generally regarded to be more of a free trade advocate than (White House adviser Peter) Navarro or the others," Mr Zaccarelli said.

Mr Stephen Massocca, senior vice-president at Wedbush Securities in San Francisco, said: "Larry Kudlow is very much a free trader.

"This shows (Mr Trump) wants to hear the other side of the argument as well."

Mr Kudlow, a CNBC contributor, was an informal adviser to Mr Trump's 2016 presidential campaign.

He has criticised Mr Trump's metal tariffs, saying they would harm steel-consuming producers. He was also one of the authors of an article that argued such tariffs were akin to sanctions on the US itself.- REUTERS

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