Trump considers TV commentator as possible economic adviser

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However, some reports have put Assistant to the President for Strategic Initiatives CHRIS LIDDELL and former Federal Reserve System governor KEVIN WARSH in the lead as contenders for the post.

Larry Kudlow, the longtime CNBC personality and an economist in the Reagan administration, has emerged as the frontrunner to become President Donald Trump's new head of the National Economic Council, the White House's top economic advisor.

CNBC's Jim Cramer reported on Monday that Larry Kudlow, with whom Cramer hosted a show from 2002 to 2005, is the front-runner.

"I think he'd be the ideal person for the job", he said.

Peter Navarro, a trade adviser to Trump who promoted the tariffs, has also been touted as a candidate for the top economic job, though he has said he is not in the running. His departure has been worrisome for Capitol Hill Republicans and business groups who have been concerned that Trump may install more protectionist economic policies amid a renegotiation of the North American Free Trade Agreement.

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Trump added that Kudlow "has a very good chance" of ultimately being named.

In a cabinet meeting on Thursday, Trump teased Cohn for not being as strong on tariffs as he would prefer.

Whilst Trump is said to favor appointing Kudlow, the deal is not yet done, primarily because the president is said to be concerned that Kudlow may not support his position on tariffs. As a result, they are watching closely to see who Trump picks as Cohn's replacement - and whether that person will bring the same knowledge of the financial markets as the former Goldman Sachs executive.

Kudlow recently praised Cohn on CNBC and said that he had urged him to remain at the White House.