Even though Gary Cohn has pledged to stick around for a few weeks after resigning as Trump’s National Economic Council director over his opposition to tariffs, policy wonks and investors aren’t wasting anytime betting on his replacement.
Larry Kudlow, former economic and policy adviser to President Ronald Regan and free-market economist, is one name topping the list, even though he shares Cohn’s anti-tariff views, as first reported by FOX Business.
Treasury Secretary Steven Mnuchin declined to join the speculation when asked about Cohn’s replacement on FOX Business’ “Mornings with Maria,” but he did offer some insight.
“What I’d say, and the president said it yesterday, he likes different views, he listens to different views,” said Mnuchin while adding that Cohn’s replacement will extend the mission of expanding the economy. “Whoever is on the team, we are focused on the president’s economic agenda. I go back to tax reform, regulatory relief and trade, and the president has delivered.”
Trump may like different views, but he does not like advisers operating their own agendas. As Peter Navarro, who is the chief trade architect, and Commerce Secretary Wilbur Ross were making the media rounds promoting the tariff plan, Cohn may have been working to stage a meeting of corporations that would be hurt by tariffs, including Ford and Coca-Cola, as FOX Business reported. That move may have accelerated his resignation.
This role on President Trump’s team does not require Senate confirmation. Therefore, potential contenders will be put through less scrutiny about their past and present. Kudlow, who publically battled substance addiction 30 years ago, is a well-respected conservative voice on Wall Street and in Washington. He declined to comment when reached by FOX Business.
Another out-of-the box name to watch, according to sources close to FOX Business, is fast-food honcho Andy Puzder. The former CEO of CKE Restaurants, which owns Hardee’s and Carl Jr’s., saw his candidacy as a potential secretary of labor cut short after allegations of domestic abuse. At the time, Puzder and his ex-wife said those allegations were false and they maintain that stance today.In January, Puzder shot down a report in Politico that said he was interviewing for a White House role. “They made it up out of whole cloth,” he told FOX Business at the time. Puzder did not respond to inquiries from FOX Business at the time of publication.
Also on the short list may be Kevin Warsh, former Federal Reserve governor under President George W. Bush, now with the Hoover Institution, a think tank that promotes economic prosperity. Warsh also spent several years at Morgan Stanley, which makes his background similar to that of Cohn, who once worked at Goldman Sachs. Inquiries by FOX Business to Warsh were not returned at the time of publication. And Shahira Knight, a top deputy to Cohn who was recently promoted by him as the deputy director for domestic policy, is also being considered. Sources told FOX Business she was instrumental in tax reform and that she is a numbers whiz.