CNBC’s Larry Kudlow Accepts Job As Donald Trump’s Top Economic Advisor

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UPDATED, 12:44 PM: Nationally syndicated columnist and CNBC commentator Larry Kudlow said he has accepted Donald Trump’s offer to become the president’s top economic advisor.

“I am thrilled and honored to serve this President,” Kudlow told WABC Radio host Rita Cosby today. “I am ready to serve President Trump and the country. I am very excited to work with President Trump and work on the economy for this country.”

Trump hinted broadly that Kudlow would become his next National Economic Council director, telling reporters yesterday he was giving his long-time advisor and former Reagan administration veteran strong consideration — even though the two men “don’t agree on everything.”

“Larry has been a friend of mine for a long time. He backed me very early in the campaign. I think the earliest — I think he was one of my original backers,” Trump said. “He’s a very, very talented man, a good man. And I think Larry Kudlow has a good chance. I’m also speaking to many others, but I think Larry has a very good chance.”

CNBC reported the official announcement could come as soon as Thursday. The 70-year-old Kudlow would replace Gary Cohn, who resigned last week after losing his battle against imposing tariffs on steel and aluminum imports.

Kudlow opposed the tariffs as well, writing an open letter to Trump saying such a protectionist move is nothing but a tax hike in disguise, that gets passed on to consumers at the cash register.

“He now has come around to believing in tariffs as also a negotiating point,” Trump told reporters. ” You know, I’m renegotiating trade deals. And without tariffs, we wouldn’t do nearly as well.”

Kudlow is a frequent commentator for CNBC, has morning talk show The Larry Kudlow Show on WABC and contributes to The National Review. Once a Democrat who supported the candidacy of Daniel Patrick Moynihan, Kudlow later served in the Reagan Administration, espousing supply-side economics.

The former Bear Stearns economist was a proponent of Trump’s tax cuts, writing a column for CNBC in which he predicted it would boost business investment, wages and take-home pay.

“More take-home pay is always a winner. And businesses large and small are beginning to pull the investment trigger,” Kudlow wrote. “Yes, the middle class will benefit. But everyone will profit from the first business boom in over 20 years. JFK, Ronald Reagan, Jack Kemp, Art Laffer, and the rest of the supply-side clan — which now includes Donald Trump — believes that a rising tide lifts all boats.”

The White House did not respond to requests for comment.

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