kudlow needs to get up to speed on that.also talked about his long-term relationship with the president, having known him and interviewed him in new york over the period of 20 years these are two men who know each other well and who are familiar with each other's views. larry kudlow said he's comfortable coming to work with the president. he's in step with him on a number of positions. one thing i was surprised to hear is the issue of immigration. larry said he's entirely supportive of the president's positions on immigration, the wall, ending chain migration and the dreamers and bringing them into the united states and getting a final deal on that larry views it as an economic issue as well as a political and social issue there is a lot that the national economic council will tackle in the coming months. >> i worry about one thing particularly tyler earlier mentioned the detroit speech that was a great speech for the economy in the 1950s the president talks about the trade deficit, just the goods, at $800 billion. not our s

we don't want to see kudlow go. but certainly i guess he can't say no when the president calls. >> president called him and larry kudlow responded with a yes. he'll be coming to washington, leaving new york. all right. brian, i want you to stand by. i want to bring in republican congressman tom cole of oklahoma. congressman, let me get your reaction. what do you think about this decision to replace gary cohn with larry kudlow of cnbc? >> well, i couldn't be more pleased. i like gary cohn a lot, but larry kudlow, of course, is a reagan alumni, if you will, all the way back to his days at the omb. and he's a guy that frankly is very well known among republican members of congress. he comes to our conferences quite a bit, classic free-market economist and thinker and advocate. he's somebody that house republicans are extraordinarily comfortable with. >> are you with the president on going ahead with 25% steel tariffs, importing steel at 25%, aluminum at 10%, you want all thee tariffs to go forward? >> no, i don't, not

i guess you can call it the kudlow effect. we're down only 130 amid news that larry kudlow has been offered gary cohn's job at the white house. the dow was down 300 points as president trump blasted unfair trade pack tests. the news came out that larry kudlow is in. now the market is off 113. we'll see how it shakes out the next hour. i'm trish regan. welcome to "the intelligence report." the president tweeted, we can not keep a blind eye to the rampant unfair trade practices to our country. investors continue to react to the tariffs. i would say they overreact. now larry kudlow is coming in. he is not so much of a tariff guy. more on that. i know larry very well. i used to host a show with him at another network. we'll get a live report from the stock exchange in a few moments. meanwhile, every vote counts, every single one of them. 640 of them suggest democrat conor lamb is pennsylvania voters choice. lamb has a big lead but many calling a bellwether for the election in november. rick saccone is calling for a recount. >> con

>> but kudlow says it is not going to go up. it'll go up, but kudlow says it is not going to.made the argument with the president that the president uses. economic growth will go up, and we will grow ourselves out of the deficit. >> then this will be the challenge for larry kudlow. in the position that he's in now, he has to stand there and represent real data. >> right. but the fear is he may stand there and represent the president in the face of real data. >> well, as larry kudlow says, it's god's will. >>> coming up next, nbc news exclusive report about one of america's allies. we'll tell you why the crown prince of saudi arabia is reportedly hiding his own mother from his father, the king. >> i mean, that's stunning. >> whack. >>> now, it is time for science. this one involves two very special friends of the show. identical twin ace tstronauts. mark kelly spent a year in space from 2015 to 2016. before he left, the identical twins shared dna. >> after his return, 7% of scott's dna had changed. we'll talk about that. you're walking "velshi & ruhle" on msnbc. >> that's strai

larry kudlow is a seasoned hand when it comes to the media larry kudlow understands the nuances of foreigny. he's afraid to some degree, there is me speakingas his partner and kudlow & cramer fo many years and watching him. he'll be not on the -- let's say he'll -- it's a different disagreement it's not a globalist disagreement it's a disagreement over tactics, a disagreement over how to get the job done. most infavor of america. and i think that larry kudlow does have that interest. i know that there are others who are tougher on this. larry knows i'm tougher on this but this is important can you butt heads with the president, stand up to the president but ultimately it will be about negotiations and larry can help the negotiations to get something done if he does get the job. again, i believe that he is -- you can call him a leading co contender. i say he's a leading contender he is better for the stock market because of the stability he brings in terms of being in line with the president. >> jim, cat pierpillar and utx coming off the lows. how much does this matter for individual sector

kudlow, like gary cohn, is a smart guy. he's a smart guy. there are a lot of people in america who are at least breathing a sigh of relief that it's not going to be peter navarro. >> yes. >> because that's a whole other ball of wax. >> hans nichols is standing by for us at the white house. hans, when can we expect some sort of form announcement from the president? >> reporter: the president is speaking later today in st. louis. we heard from eamon javers who broke the story on cnbc. we could have it as soon as tomorrow. we don't have the timing on this really set in stone yet. one thing to look at, any new person that's coming into the white house, is what their role is going to be. the power of the nec director is you get to tee up a lot of the data for the president and the rest of the team to make that decision. in this white house, that's particular important because the nec gets all the data beforehand, for instance the job numbers that come out on friday, the nec gets those on thursday night. you get a little bit of a

president's appointment of larry kudlow at the moment may provide a ray of hope for u.s. partners around the world the phrase trade war is becoming more common in discussions with world leaders and policymakers but what exactly is a trade for take a look at the world economy is based on reciprocal trade that means countries export goods to each other and import products for the local markets many countries strive to export and import roughly the same amount but in reality well trade is an unbalanced affair. the usa for example export goods worth one hundred fifteen billion dollars to china while importing four times as much. but what would happen if the u.s. imposed an import tax on an individual product let's say excavators that could lead to u.s. companies buying fewer chinese excavators they might instead buy more of them produced in the u.s. in effect terrorists like these could protect the u.s. economy tariffs have existed for almost as long as countries have been trading with each other the u. for example still levies a ten percent tax on u.s. costs the other way ar

will he make announcement on larry kudlow?ng that the job is offered to kudlow to replace gary cohn. fox business will have this live for you. we'll look at a near collapse of bear stearns t was 10 years ago, to see if there could be other financials crises. the market up 200 from the low point. president trump says this is the bet time ever for fundamentals. that is helping the market. now here is trish regan. >> thanks, charles. i guess you can call it the kudlow effect. we're down only 130 amid news that larry kudlow has been offered gary cohn's job at the white house. the dow was down 300 points as president trump blasted unfair trade pack tests. the news came out that larry kudlow is in. now the market is off 113. we'll see how it shakes out the next hour. i'm trish regan. welcome to "the intelligence report." the president tweeted, we can not keep a blind eye to the rampant unfair trade practices to our country. investors continue t

the president really has a lot of respect for kudlow. listen to what he said. >> we don't agree on everything but in this case that's good. i want to have a divergence of opinion. we agree on most. he has come around to believing in tariffs as also a negotiating point. >> maybe not believing in tariffs right, but perhaps as a negotiating point. the white house is being circumspect about this. one of the potential issues, it was a long time ago that in the early 90s, kudlow admitted that he had a $10,000 a month cocaine habit. also struggled with alcohol abuse. he went through treatment programs for substance abuse. it's a possible issue with the security clearance that he's going to have to have to be the economic adviser. in this climate, with all of the controversy about security clearances, it could be an issue. stay tuned for that. more staff shakeups coming here at the white house. the v.a. secretary david shulkin has lost a lot of favor he had with the president. he's been clashing with other trump appointees at the veterans affair

we have seen larry kudlow take jabs at china.hat china needs to be held to account for this huge trade imbalance. and the trouble administration is trying to see that imbalance narrowed by $100 billion approximately. 0ne imbalance narrowed by $100 billion approximately. one of the things we know about larry kudlow is that he likes a strong us dollar. 0n cnbc on wednesday, he said a great country needs a strong currency. this is in line with what previous administrations believed in. it means that they have more buying power for means that they have more buying powerfor asian goods. means that they have more buying power for asian goods. so that is positive on the asia side. but again, the big worry comes down to possible new tariffs on china and whether this will leave us facing a global trade war, particularly if the drug administration brings a new restrictions or tariffs to do with intellectual property. —— trump. restrictions or tariffs to do with intellectual property. -- trump. and we don't how much impact that will have. t

kudlow goes to washington. larry kudlow succeeding gary cohn what will it mean for the markets?> the biggest loosening of banking regulations since the financial crisis a decade ago. >> slight gains at the open as investors try to shake off concerns surrounding global trade. first up, larry kudlow is going from cnbc to the white house he's accepted the president's offer to succeed gary cohn as director of the national economic council this morning the president tweeted about kudlow adding our country will have many years of success with low taxes and unparalleled innovation and fair trade and ever expanding labor force leading the way and kudlow outlined his economic vision yesterday on closing bell. >> if you keep tax rates minimum, if you keep regulations and government spending minimal, if you keep the dollar sound and steady, you're going to have a terrific economy if government has a modest approach and let's people do what they need to do and allows the freedom to do it, we will do great in this country. we're already i believe on the front end of a tremendous investment b

i spoke to lar kudlow earlier today. he told me that he believes he will be able t speak h mind freely about tariffs in this white house. but ultimately, he said,s the director of the national economic council his job is t offer his advice but once the president's decision is made it's me and kudlow says his job will be to simply execute on it. larry kudlow comes on the job after a career at cnbc as a television commentator and anchor. he worked at bear stearns on wall street, he served at the federal reserve and also at the office ogement and budget in the white house in the reagan years. one of the challenge will be, this is a very different washington than it was in the 198 tos. for show i'm ayman jabbers at the white house. >>> a key economic ioricator fell the third month. retail sales dropped 1% in bruary dragged other by reduced spending on cars and gasoline. it is the latest report to suggest that the m economy not be overheating afterall. following the release of that report jp morgan lowered its first quarter e

but given his track record, kudlow might not be the best choice.the mid 2,000 when many economists were warning about the impending housing market collapse, listen to how trump's tbie responds. >> everyone who buys a house now in new york or miami or san diego assumes that the price will just keep going up and up and up and that is what you call a bubble. >> i just feel look, i have a different take on this. i think the housing boom is a tremendous plus. for middle income people, for low income people. you're not going to have a housing bubble go bust when the unemployment rate is low and the economy is broaing at 3, 4%. >> okay, now you see, it's a little funny that he was wrong. but it's superfunny that he interrupts someone to be that wrong. like i bet there was a guy like him before every major event in history. like sir, the titanic looks like it's going to shall. >> i have a different take on this. i think boats break ice, not the other way around. >> i think our neighbor charles manson seems a little dangerous and we should. >> i have a diff

>>> larry kudlow on the closing bell, and mark cuban congratulated him on twitter >> congrats, larry thanks for watching "power lunch. >> "closing bell" starts right now. ♪ >>> live from the new york stock exchange in new york city, this is the closing bell, i'm kelly evans. >> i'm wilbur frost. we'll break down what this means to they's economic future and talk with larry live and exclusively himself coming up. >>> stocks on the move lower today, dow down 338 at the lowest, and right now, down 210. let's get right to the reporters watching all of the markets for us >> bob is at the nasdaq, and bob pisani is on the floor of the stock exchange >> we have trading roulette. traders are having their heads spin with the headlines and competing issues they have to deal with it's causing confusion. starting with the first one here soft retail sales for february, a big surprise we're not sure what to make of it, parsing through the numbers, but this is what it's doing to the stock market look at the department stores, jcpenney, that's not a typo, down 7%. the other stocks are down 4%-6%. the

the president offered larry kudlow the job last night and larry kudlow has accepted the job.ng an announcement of that formally could come as soon as tomorrow this is a significant development because, as you know, larry kudlow has been opposed to the president on the issue of tariffs, but we saw president trump say this week that larry kudlow has come around on the issue of tariffs as a negotiating tactic. so the president seems to be willing to bring in a very high-profile economic advisor here who disagrees with him on a key issue but agrees that that issue can be used to bring other nations to the negotiating table. the president has said he wants a diversity of voices in his cabinet and around him at the white house. that appears to be the case with this decision. so to wrap it up here for you, scott, according to a source familiar with the decision, the president has offered larry kudlow the job and larry kudlow has accepted that could be announced as soon as tomorrow. but remember, the president is at a boeing factory later today in missouri where he's going to be talk

it was -- why was it kudlow and cramer and not cramer and kudlow do you remember? did was -- we hired an ncaa football ref with a coin flip if it was heads cramer and tails kudlow and cramer and that's how it came out. i didn't want it to be alphabetical that was unfair. we brought a real ref with a real coin. there's tape of it i didn't make it up. come on, that's ridiculous no, there's tape of the coin flip and against me. >> anyway -- >> super bowl. >> now i'm used to it and you have villanova, don't you all the way? >> have to have to. how can you not? >> i couldn't. >> i figure you have to too. i'm not going to root for them thank you, jim, we'll see you in a few minutes. >> tonight on "mad money", don't miss the ceos of intel, hp and clorox company, alofl them. you're watching "squawk box" on cnbc in the eastern united states supported by innovative packaging that extends the shelf life of foods and infrastructure upgrades that help us share our produce with the world. all across new york state, we're building the new new york. to grow your business with us i

some weakness along the kudlow story.ast indicator, we need to go into the mix until we hear from the fed. buy king dollar might be kudlow's message. matt: we saw three days of drops for u.s. stocks, three days of buys for u.s. bonds and that pushed yields down. i have a chart here, it is 8631 in the btv library. it shows you a reversal of a trade that have been popular on wall street. what we have been seeing is thestors buying especially big banks and shorting utilities are selling them in hopes that the interest rate increases would pay off for the banks and make utilities less attractive. over the last few do we have seen a reversal of that trade. does that continue, do we see a purchase of utilities as you see in the top panel and the selloff for banks. let's get the bloomberg first word news. for that we go to juliette saly. isiette: the u.k. government awaiting the kremlin's reaction to the expulsion of 23 of its formats after prime minister theresa may announced a move in response to the poisoning of a former russ

that is one thing that larry kudlow said over and over again.ally believes in a very straightforward, two-teared approach which is lower taxes everywhere, corporate, personal, whatever it is, and strong dollar and that makes this likelihood that we would see even more tax cuts or the permanency of what we see a lot more likely. what do you think? >> i think larry kudlow understands that tax cuts and regulatory reform give give investors and individuals more freedom. that creates the f-16s, the f-18s. lech logically-advanced economy we have. i hope larry kudlow will bring to the president tariffs are against that freedom. melissa: he will. >> what is the point of giving them a tax cut and charge -- melissa: i want everybody to get a word in. todd, to ahead, what did you see or here? >> i saw genuine outpouring of love of the president when they spoke. he genuinely cares. the overall simple he will not do anything that causes great harm to the united states of america. he will make america great again. that is where he is work and going with kudlo

kudlow is a great performer.here are two distinct problems with the larry kudlow equation. if gary cohn left because of tariffs, larry kudlow is as big a free trader as they come. he'll have to work that out with the president. larry kudlow has been out there pushing this idea that the economy can grow at 4 or 5 or 6% and that these tax cuts help you get there. a lot of people know that's fantastical thinking. and larry kudlow is now going to be in a position where he can encourage the president to continue telling people that that's going to happen when in fact our economy is more mature and it's more stable and you can't just do this. so what they've done is they've sold tax cuts on the rich to the american public on the expectation that it will increase economic growth, it won't increase the deficit, and somehow everybody's going to be happier. apparently last night in pennsylvania, not everybody bought that message. and that is going to be a problem, because you don't have somebody telling the president the t

let me tell you more about larry kudlow. his career as a economist at the new york fed chief economist at the office of management and budget under ronald reagan, involved in tax cuts. he has held tax cuts are good for growth won't overheat the economy is . talks about the groping signals for central bankers. as a cnbc contributor that is how i got to know him well. just beforeure, bill clinton got elected in 1992, i wrote a profile on the front page of the paper on larry kudlow and i went to cnbc to become a contributor and post them corresponded myself. when larry talks about the king dollar, he has been talking about the king dollar for years and he would like to see it a wee bit stronger but not necessarily calling for a real surge in the dollar. and turning to china we know kudlow is signaling a tough stance on china as well. worries we could see retaliation in terms of offloading rest treasury bonds. did we see the january trading as a warning? kathleen: i have to give our news team in tokyo a nice pat on the back of t

larry kudlow says by the dollar, so gold.udeau says playing nice with president trump as kudlow says the country has been making concessions handover fifth. david: sounds pretty good to me. alix: markets feel a little choppy. a little directionless. the dollar getting more action than other asset classes. s&p futures are up by not even one point after they closed at a one-week low yesterday. euro-dollar slightly weaker. a mixed dollars session despite the fact larry kudlow says we like a stronger dollar. the treasury market goes nowhere. bundstperformance of and 281 is how we print on the 10 year. we could see a shortage this year. david: i thought we had a surplus. now a shortage? alix: we could see a shortage. david: time for the morning brief. at 8:30 we will get economic data including initial jobless claims. at 10:45, president trump will meet with the irish prime minister at the white house. raw, announces its 2018 first-quarter earnings. alix: a big week for economic data. we got retail sales out of the way. we have jo

will larry kudlow and peter navarro get along? he will arrive with treasury secretary steve mnuchin, one cabinet member that the president has been getting along with lately and one person that does get along with larry kudlow. they both advise the president on his economic plan in the 2016 campaign. a lot of interesting dynamics in the white house. can according to the president there is no chaos. brooke. >> the one with whom he gets along. heard you, kaitlyn, in st. louis. appreciate that bit of news. >>> ex-fbi direeputy director andrew mccabe may face being fired days before his planned retirement sunday. attorney general jeff sessions is the one weighing whether or not he should fire mccabe before then. the stakes are incredibly high. if he is fired before sunday, he loses his pension after a 22-year career at the fbi. this goes back, this issue stems from an internal justice department report claiming that mccabe misled investigators about his decision to authorize fbi officials to speak to the media about an investigation i

appreciate you john harwood on the phone and to jim cramer who brought brought us this news that larry kudlow is the leading contender to take gary cohn's job. to the half. >> cart, thanks very much so much welcome to the halftime report our break iing news continueses with reporting by jim cramer that larry kudlow is the top contender the replace gary cohn. the r report moving stocks off their lows we're going to discuss all of that with our panel today. joe, steve, sarat, ian, we want to get back out west though as a reset of sorts with jim cramer who broke this story jim, what do you know? >> well, look. the president has spoken to larry. spoken to larry in the last day to say he's not a, say the leading contender would be wrong, but the president hasn't picked anybody i think it's important to note the president does have differences with larry, but tha may be applauded with someone who's not a globalist, but an economist. we know he's likeded wall street i worked with larry for many years. his knowledge of rag p and reagan white house, very, very positive but the president has not offere

larry kudlow would not necessarily be in that camp.ow he plays in that sandbox will shape this trump administration economic agenda whether kudlow and navarro will be in the same sandbox may be the story going forward. >> that was the story with gary cohn and peter navarro they struggled larry kudlow reminded me yesterday that peter navarro used to be a gus on hi guest onw on cnbc. >> small world >>> radio giant i heart media filing for bankruptcy protection >> they filed for chapter 11 today. the largest u.s. radio station struggled with $20 billion in debt and falling revenue they reached an agreement with the holders of more than half of that debt to refinance the balance sheet. the filing comes after john malone's lebity ne itliberty med a 40% stake in a restructured iheart media iheart media owns 648 radio stations across the united states it produces syndicated radio shows for ryan seacrest, rush limbaugh the filing comes a decade after the company was bought for 27 billion, leaving it saddled with debt shares of iheart media los

kudlow is on board with that. this is the reorganization of the most important trading relationship in the world bar none. the president is talking about putting an immigration deal into the long-term spending bill. that puts democrats on the spot. will they build the wall and the dreamers have a path to citizenship, and the top level of the trump team, the president is solidifying his administration around his worldview. direct from the white house the trump show. in a moment how this is all playing out in the world of money. the president has grabbed all the attention. "varney and company" is about to begin. where are we going to open up. 60 points higher, the way we start is not necessarily the way we will finish. stuart: don't take much into account. and got the message going. toys "r quote us closing all of its stores, it is gone. mattel and hasbro stocks have gone down sharply when the news first broke. now that it is official, not much further selling in those stocks. boeing in the news yesterday, took a hu

larry kudlow -- if gary cohn left because he was at odds with the president on tariffs, larry kudlow would be more at odds with the president than gary cohn was. how do you square the circle. >> it could be squared that larry has known donald trump for a considerable period of time. much longer than gary cohn ever did. he's been advising him since the start of his campaign on things like tax policy. which quite frankly helped to design the tax reform package that passed the congress and signed by the president, was at least in part designed by larry and the likes of art laugher and steven more who wanted a large tax cut for the economic recovery. on the trade issue, he said he might soften his stance to an extent that where larry has often said he is a complete free market ear, he does become more pragmatic and when it come to-- comes to the issue of china which the white house is targeting, he preferred targeted sanctions or some time of protectionist measures rather than the blanket tariffs that the president proposed in the last week or so. >> ron, i'm worried for the country that

gary cohn to larry kudlow, cnbc personality here.d sees on tv, don't underestimate the importance. reince priebus, trump sort of took on because he wanted to make nice with the establishment. he got rid of that because he figured that wasn't working. brought in john kelly. we'll see how he vives. he was running because he's a general. the next one is even more -- john kelly, featured again. he may have lost the trust of the president. depends on what reports you read. we don't know who could go here. h.r. mcmaster to john bolton. he has been around this white house a lot. the president likes his counsel. va secretary, we know he's not happy with david shulkin, mismanagement of a veterans center. and rick perry, the president knows the nature of his character. attorney general, the most maligned person in the administration, jeff sessions. trump has called him beleaguered and said he should leave. we don't know who could go here. trump wants sessions out but doesn't want to fire him, which is interesting. one more aside. >> wow! >> th

of course, larry kudlow is speaking out now about that.ttire for the end of the year. it is a broad greenback ofironment today on the back those kudlow comments. interesting to see the strongest gains are against him fx -- emfx and some currencies. it is good to see what is happening in the fx space. still ahead, the future of greece, the man who could become the country's next prime minister. this is bloomberg. ♪ vonnie: live from bloomberg headquarters in new york i am funny quinn. mark: i am mark barton and this is merck markets -- bloomberg markets. >> the trump administration has imposed sanctions on russian czars,et troll ultimately denied others were also sanctioned. meanwhile leaders of the u.s., france, and germany have joined the u.k. in asking for answers from russia on the nerve gas attack from a former russian spy in england. russia warned it will retaliate for u.k.'s explosion of diplomats. summitbout the possible between kim jong-un and president trump. the talks will focus on where to hold the summit. rolen has played a spe

kudlow and chaos.icks a conservative cable tv financial analyst to be his next top economic advisor, even as a source says the president wants to purge, i'm quoting now, dead weight from his cabinet. as one new staffer enters the white house, who's next in line for the exit? >>> questions of collusion. the top democrat on the senate intelligence committee tells cnn there are growing questions about whether the trump campaign worked with russia despite the findings of republicans on the house intelligence committee. he says he stands pie the intelligence community's assessment that vladimir putin wanted trump to win. >>> under the arctic. we go onboard with the u.s. and its allies as their nuclear submarines patrol the front lines of a growing conflict with russia in the arctic sea where moscow's military machine is seeking dominance. it's a cnn exclusive. >>> and stormy day fund. stormy daniels is raising money for her lawsuit against president trump. the first hearing in the case has just been set for

what do you think about the larry kudlow? >> i think larry kudlow brings a lot of good experience. be a good voice for the administration. i look forward to seeing how he interacts with the president and how we move forward. yes, in ohio, we are feeling the benefits of the tax relief. and people are very grateful for that. >> harris: all right. representative brad wenstrup of ohio. thank you very much. we appreciate your time. >> you bet. thanks, harris. >> harris: a lot happening on the one month observation and anniversary of the school shooting it's only been a few weeks. nikolas cruz is set to be arraigned in court at any minute. a senate panel is looking into the fbi's handling of the situation by local authorities and others. and students nationwide right now are still taking part in their thousand strong across the nation walkout of their classrooms to protest gun violence. stay close. alright, i brought in high protein to help get us moving. ...and help you feel more strength and energy in just two weeks! i'll take that. -yeeeeeah! ensure high protein. with 16 grams of prot

kudlow who is going to replace gary cohn. here is what the president said about his new chief economic advisor. >> larry kudlow just came in a little while ago and i think larry is going to be outstanding as economic advisor. so we look forward to it. reporter: david and melissa, one thing you should know about larry kudlow he is proponent of free trade. you would think he is against tariffs but he said recently tariffs can be useful, he was referring to what happened during the reagan administration when they did use tariffs to bring trading partners to the negotiating table. mr. kudlow did work for the reagan administration. so he is on board it would appear with the tariffs we'll get with steel and aluminum but also as fox business has confirmed, the pending tariffs to be announced probably i bet end of the month against china. back to you. david: as a negotiating tool, as he said. melissa: right. david: adam shapiro, thank you very much. let's bring in a man that knows larry kudlow very well, david stock map, former reaga

--'s look deeper into what who larry kudlow is.ed out studying economics and politics, became chief economist in his early 30's, chief economist at the office of management and budget under president reagan. taxng time supply-sider, cut growth, watching the dollar, watching gold, signaling monetary policy, not just jobs. acnbc contributor. i got to know him well as a journalist. cnbcher we worked at during the 1990's. he did say in an interview he would like to see the dollar a bit stronger. he has been talking about king dollar forever. he thinks it is a sign of a strong, powerful economy and country. he thought he would go further and advised people buying the dollar and selling gold. i would suspect as time goes on, he would refrain from what you should buy or sell when he is officially sitting at the white house as the new economic council. say it is not a job and economists have to do, it involves project management, coming up with economic solutions for the president to look at. larry kudlow is not the only one who does not t

stephanie ruhle, let's talk about larry kudlow.ing from cnbc, doesn't always agree with donald trump on everything, although they're friends. trump has said he's come around to his trade deals. >> okay. larry cow if in that position maybe he can get president trump to stay and squeak him back into tpp, it's unlikely. there's another camp that president trump likes, the old school reaganomics, new york, let's bring back the gold standard. that's what larry kudlow is. he was part of reagan's economic policy team. he's the kind of guy that president trump likes. he's a tv celebrity. so he's well-known in the circuits of cnbc. something that will be difficult for larry, though, he's an advocate for president trump, it's going to hard for larry to carry president trump's water, which trump loves. why? because you have ten years of larry kudlow being on record on tv and on the radio making all sorts of statements -- >> donald trump has been on the record for years making statements that don't jive with what he has said now. why would it

and larry kudlow is not a fan of those tariffs.nsylvaniant is question mark is it a surprise that's what have state republican? what does it tell us generally about the electorate in november? it adds a data points to a pattern and that is a pattern of republicans struggling in places where they shouldn't. republicans struggling pulling off the seat with karen handel in georgia last year and then losing the alabama senate election and losing this race in pennsylvania. they a struggle in places should not and that is the problem and should scare republicans going into november. also boiling down to the gop not getting any help from tax cuts. kristen: it may be the case that tax cuts were not enough to push them over the finish line. republicans believe they have on the taxe full law, and there started to notice their paycheck is a little bit bigger and are trying to push the message of check your check. by november day will be able to make the case that you have more money on your paycheck than last year, you want to vote for a cong

donald trump has chosen television pondered larry kudlow to take over as this chief economic adviser following last week's resignation of gary cohn a former investment banker kudlow is known as a conservative business commentator on c.n.n. we see the seventy year old is no stranger to the white house either having previously served in the administration of ronald reagan he has frequently spoken out in favor of small government and tax cuts but he says he opposes trump's trade tariffs back to court on wall street so larry kudlow supports tax cuts but oppose us restricting trade is he the ideal candidate for wall street. you know i just walked by him he's here on wall street on a very regular basis for being a t.v. personality so there he has something in common with the u.s. president and when it comes to wall street the big question will be can larry kudlow influence the administration when it comes to the trade policy and i'm not so certain about that larry kudlow does agree with the u.s. president when it comes to the tax cut when it comes to cutting regulation and yes in general h

lawrence kudlow, to replace the gary cohn.e is seen as a trump team player. ♪ betty: what a day, another day for the markets where we had again a day of declines. retail sales were setting the tone for investors, saying perhaps consumer spending is shaky, and this economic recovery we have been in so long might be shaky as well. i want to point out breaking news we had a few moments ago that might add bullish sentiment, the senate rolling back portions of the dodd-frank law, listing burdens for financial institutions, including smaller banks. that could be a lift for the markets tomorrow. yvonne: certainly deregulation has been simmering beneath trade concerns. larry kudlow will be interesting replacing gary cohn. he has been the trade hawk concerning china. asia -- china. -- weighd be way down ed down. betty: let's check how the markets closed a few hours ago in the u.s. the retail sales report setting the tone, declines in the s&p, down 0.5%. the dow off by 250 points. 0.2 percent.sing stocks dropping a third straight day in

what does president looking for larry kudlow to do. >> well, we are very excited about larry kudlow.iant, right, he had experience in government, from the new york fed to the reagan administration the private sector, obviously has been you know a presence for the american people, in living rooms for years, ares frankly one of the key jobs of the ne.c. chair is to communicate the president's economic vision, communicate his policies to the american people, and on that front along with many others, larry is going to be a huge presence in this white house and administration. so presidents looking for you know, mr. kudlow to you know preeminent him with ideas on the economy, advise on policy and then help him make decisions to communicate decisions to the american people we are very excited to have him coming onboard. >> will that include phase two of the tax cut plan? >> the president has been talking about, chairman kevin brady in house have been talking about a phase two tax cut plan, we want to make the personal income tax cuts diaries tax cut bill permanent talked about potentially

it's moderated quite a bit now we have kudlow going to the white house. is this something the market's going to put aside at this point? >> i think less than put aside, they will do a wait and see. when it looked like you were going to do a $60 billion tariff hit on ostensibly across a whole group of chinese products, there was almost an instant reaction they said okay, we are talking billions, that's big numbers, how can they respond adequately, they have to go after something that's expensive like airplanes. they started hitting on boeing boeing accounted for over 100 points of the sell-off the other day. you will get this reaction as things heat up and cool down right now, they are in the wait and see attitude interestingly, as we are talking, we have rallied back to the day's highs. they have pulled back from that a couple times today it will be important to see if they can punch through here and maybe get a rally that holds for the whole day. >> to your point, as roach just said, boeing is down for a reason worst week in two years. you think that's t

kudlow, latest piÑata of the trump administration. after mr. kudlow, as he should.e reality, 14 years ago this was the definitive paper in 2002 from robert eisen bice of the atlanta fed. this changed market economics. it was wicked good. federal reserve bank of atlanta math. you cannot see it on tv. all you have to know. francine: or on radio. tom: the top-of-the-line, doing marketow, economics and forecasting. larry kudlow back in the day was a hell of a market forecaster. with that, hans-guenter redeker, the dollar and trump. should he speak about dollar policy or should that be the territory of the secretary of treasury? hans-guenter: the dollar and in order to avoid confusion, it should stay within the treasury. i'm sure, this will continue like that. what this think about strong u.s. dollar policy means. yes, of course to keep confidence for the u.s. dollar in financial markets, you want to ensure that america is getting funded. at the same time you want to walk a fine line. you want to improve trade positions. america is in the belief that it has been disadvan

larry kudlow may have been more wrong than the economy than anyone alive.joining us now. >> given how much cable news the president consumes? >> no, it surprises me not at all. it is not just the people on the news that he admires. think about it when asked during the campaign where he got his foreign policy advice and he says the generals that he's watching on television. we wonder which direction we have been sent on a presidential tweet and we find out that he's watching one of the morning shows and he's reacting to that in realtime. he gets validations from cable news and news in general. i think the idea of having some of these people like kudlow in the white house and administration, means that he can have that validation in realtime and he feels that these people would be able to go out there and see his praises and everybody will believe it. >> obviously, there are people that appear on television that qualifies to do a certain job. the president on television may have any lack of credentials, they may be able to communicate things well for the whit

with kudlow quite a quite a lot just to buy the sparts so what do you think. well i like being interviewed so you do it so i think i mean he's definitely a guy that's out there all for open free markets guy he's i think has a powerful personality and my question would be whether or not given that the president himself has a powerful personality how that dynamic will work but there's no question for me that he will rule some of these meetings these big meetings that they have everything all economic policy whether or not it's commerce department or treasury stuff all federal flows through the economic council so look i commend him for taking the jobs you know you don't do it for the pay you do it for the country so i'm really pleased for larry and hope that he can make a difference and and hang in there we need adults in this administration and larry will be a good addition so one way april back to it let's get to the millennial i mean how are they different to we know they're a little bit different but how are they different investors than than the rest of us.

that applies to larry kudlow. he is a cheerleader for bush-era economics. gary kudlow is now going to give the president advice, he recommended that americans buy stock in the fall of 2008 when everybody else saw the economy about to collapse. does anyone think that larry kudlow is going to bring a renewed focus on the middle class? forget it. he has his whole career, and that's who president trump picks, getting rid of one and putting in another like going from the frying pan into the fire. and, by the way, i think the president, he loves having big classes of working-class people, big crowds of working-class people in those tents, but who are his real friends? the very wealthy. that's who he hung out with in new york. he cares what he thinks, and that's why his policies are so aimed at them. so, my republican friends, this is, in a nutshell, the problem you face. the rhetoric is all about helping working people, but their policies are all about helping corporations and the rich. i'm not against the rich or corporations. god bless them. let's hope they do

again, back to larry kudlow, where does he come in on this?eems from what i've heard and the clips in the last 24 hours, he's accepted, he and president trump are different on some things, if he can't persuade him, he'll be a team player. >> he's going to have to renege on his core beliefs a lot, if he wants to stay there. for all i know, trump tomorrow will be -- throw out peter navarro and get rid of wilbur, wilbur ross, and become a much more free trader. charles: but he won't. this is not a new trump, this is the president trump that goes back. >> i'm just saying with you, i don't know what his modus operandi is. we should point out trump was never quite a protectionist until recently, and the guys that came up with that mantra were roger stone and sam nunberg and steve bannon as a political weapon essentially. don't be so sure he's solidified in all these views. a lot of this is politics with him. charles: right. >> maybe he'll disavow it, if he stays on course, it's going to be hard for larry kudlow to stay there. now, larry is an amazin

counting on kudlow.s president donald trump brings in a tv commentator as a top economics advisor. on the markets, europe is open and rising, as expected, albeit cautiously. and the oscar goes to... the man who'll be giving us the inside track on special effects. bladerunner 2049 won the academy award so we'll speak to the company behind the silver screen magic. also the question for you, we want to know, does it bother you there are plastic particles in your bottles of water? let us know. just use #bbcbizlive. would you buy that water? hello and welcome to business live. unilever, which is one of the world's biggest consumer goods manufacturers, says it's abandoning its london headquarters. it means the company will only have one head office, in the dutch city of rotterdam. it says the move is not connected to brexit. the company, which makes products including marmite, dove soap and ben and jerry's ice cream says it's moving to a simpler, more agile structure. unilever employs 7,300 people in the uk an

kudlow has been a skeptic and save earlier this week that kudlow has come around to see it as a point of negotiation. it remains unclear as to when kudlow will assume the position. sarah sanderson will work to have an orderly transition and keep everyone posted on the timing of him officially assuming the role. back to you in new york. cheryl: president trump could make more big changes to his cabinet soon following dismissal of care state rex tillerson. multiple sources telling fox news that h.r. mcmaster would be replaced by former u.s. ambassador to the u.n., john bolton. white house chief of staff john kelly would be replaced by budget your mick mulvaney. also, if david shelton would be replaced by energy secretary rick perry. of course a lot more on this. why to d.c. in just a couple minutes. cheryl: more tax relief possibly on the way while celebrating the impact of a tax fly the boeing factory in st. louis, the president's record with house ways and means committee chairman kevin brady on a second package. >> we are now going for a phase two, which will help in addition to midd

comment from the president about larry kudlow today saying that kudlow has come around on tariffs as a negotiation tactic kudlow was critical of the president's move on tariffs. he said that he's embraced the idea that the president uses them as a negotiating tactic to get other countries to come to the table. we've seen that in the week since the president made that dramatic announcement on tariffs. kudlow now sees the value in getting those countries to the table if he doesn't like the idea of tariffs themselves for economic purposes. >> with us for the hour to talk about all of this today is joe, stephan stephanie, and jon doc, you have a lot to go over today. you have the tillerson news. you have cpi in line you have rates lower banks are lower. tech is rolling over a bit put all of that into the prism of how you view the market today. >> really a small move out of the markets overall even when we were up 198, judge, we all know that's still up less than a percent fluttering back and forth up 30 points from the dow where it is now. doesn't seem like this was something that was a