President Donald Trump has chosen former Reagan economist Larry Kudlow to replace Gary Cohn as head of the National Economic Council.
Trump had favorable things to say about the CNBC personality before departing for California on Tuesday.
“I’ve known him a long time. We don’t agree on everything but in this case, I think that’s good. I want to have a divergent opinion,” the president said. “We agree on most.”
“He’s a very, very talented man – a good man,” said Trump, describing him as one of his “original backers” during his presidential run.
Kudlow served Reagan’s Office of Budget and Management in the 1980s, following a stint as a economist at New York’s Federal Reserve Bank.
During Reagan’s two terms, the economy grew a third larger (that is the size of the entire economy of Germany at the time). Unemployment dropped to under 5%, as the economy created over 19 million new jobs. Meanwhile, revenues to the Treasury doubled during his two terms, due to the tremendous economic growth. – READ MORE
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