White House economic adviser Larry Kudlow is bringing his years of investment wisdom to the Trump administration with some big agenda items focusing on a stable dollar, robust American growth and fair trade.
Kudlow, the Wall Street economist best known as a CNBC television personality who is now the director of the White House’s National Economic Council, casts himself as a “happy warrior.”
The former Ronald Reagan adviser said he is trying to give the best economic counsel he can to a president who has proved disinclined to follow advice, he recently told the New York Times.
“The way this has worked so far, we’ve been pretty close, but we have had differences,” Kudlow said of himself and the president.
Kudlow, who also served as the Trump campaign's senior economic adviser, explained that the president inherited a mountain of problems from the past two decades. “He's trying to fix a lot of problems that have gone unfixed in the last 20 years,” Kudlow has explained to CNBC.
Here is a look at some of Kudlow’s big agenda items:
Kudlow recently told The Wall Street Journal that he supported a currency policy that keeps the U.S. dollar stable. The dollar could be a trade weapon for the U.S., which could seek to weaken it to make exports less expensive, the Journal explained. But Kudlow, long a supporter of a strong currency, wasn’t behind such a policy. “Keep the currency steady. Keep the dollar steady. It doesn’t have to go up 20% or down 20%,” Kudlow told WSJ.com.
“This administration and its economic advisers, our goal here is growth — growth, growth, growth, growth — that’s the raison d’être of this administration on domestic policy,” Kudlow told the New York Times. “We will rise and fall politically on that,” said Kudlow, who worked as a top budget aide in the Reagan administration in between stints as a Wall Street economist in the 1980s and 1990s.
- Dawn of ‘Investment Boom’ After ‘War on Business’ Ends
Kudlow is optimistic about America’s economic future now that Trump and Republican lawmakers have kept their vow of sweeping tax reform. “Because of the tax changes and regulatory changes, we're on the front end of an investment boom,” Kudlow told CNBC.
And such a boom comes in the wake to the end to the "war on business” and “the punishment of investment," Kudlow recently told "The Cats Roundtable" on 970AM-N.Y., per The Hill.
Trump "wanted to lower taxes, especially business taxes, he never wavered on that," Kudlow told host John Catsimatidis, per The Hill.
"Neither did Treasury Secretary [Steven] Mnuchin, who worked in the campaign with us, and it's now come to fruition.
"Trump has ended the war on business. He's ended the regulatory war. This [tax reform] now ends the punishment of investment," said Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985.
“I believe you're looking at 3 percent to 4 percent economic growth for as far as the eye can see,” Kudlow has said. “We're moving into a higher gear. And that's why I think people should hang on to their stocks."
- A Cautious but Firm Stance on Fair Trade
Kudlow warns that the U.S. must continue to take a cautious approach towards China because the second-largest world economy has stolen much of America’s intellectual property.
“We have what they want,” Kudlow told Fox Business Network. “We have advanced technology. It’s the backbone of our economy,” Kudlow said.
“China is the problem. President Trump is the solution,” Kudlow told Bloomberg TV.
“This is the first president in 20 years to have the backbone to go in and challenge China on the kind of unfair and illegal trading practices that they have adopted for the past several decades,” Kudlow said.
“Blame China for not playing ball, don’t blame the president. He’s standing up for American companies and business,” he told Bloomberg.
"This is a moderate, tempered approach that we are taking," he said. "This is not a trade war," Kudlow said.
"There's no secret here. They've got enormous trade and tariff barriers," he said. "They've got to stop their stealing of the intellectual property that we try to use in any company around the world. Those are good places to start."
Kudlow himself helped get the president recently to say something nice on Twitter about President Xi Jinping of China, the New York Times explained.
Kudlow also told Fox Business Network’s Lou Dobbs that no decisions have been made on rejoining the Trans-Pacific Partnership (TPP), but the administration will take a “fresh look” at the trade deal to figure out how it can benefit the U.S. economy.
“One of the goals here has to be economic growth, rising wages and rising jobs just like every other aspect of the Trump program,” Kudlow said.
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