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Photo by SAUL LOEB/AFP/Getty Images

President Trump has reportedly selected CNBC contributor Larry Kudlow as the next chairman of the White House National Economic Council. A supply-side economist who served in the Reagan administration, Kudlow brings more public sector experience to the job than Gary Cohn, but his shared contempt for Trump's steel and aluminum tariffs may be a source of strife as he joins the West Wing.

Fast facts
  • Kudlow was associate director for economics and planning in the Office of Management and Budget (OMB) during Ronald Reagan's first term.
  • He worked at Bear Stearns twice, including as chief economist in the 1980s, but resigned in 1994 and entered rehab in 1995 for alcohol and cocaine abuse. He's been clean and sober since then.
  • Kudlow began his media career as the economics editor at National Review Online, and hosted a series of CNBC shows throughout the 2000s. He is now a syndicated columnist and radio host.
Economic and political views
  • On tax cuts: "Trump and the GOP are on the side of the growth angels with the passage of powerful tax-cut legislation to boost business investment, wages, and take-home family pay. The Democrats, meanwhile, are left with stale class-warfare slogans about tax cuts for the rich."
  • On tariffs: "[E]ven if tariffs save every one of the 140,000 or so steel jobs in America, it puts at risk 5 million manufacturing and related jobs in industries that use steel...In other words, steel and aluminum may win in the short term, but steel and aluminum users and consumers will lose. In fact, tariff hikes are really tax hikes."
  • On tariff exemptions: "It’s a Trumpian way of negotiating. You knock them in the teeth and get their attention. And then you kind of work out a deal and I think that's what he’s done. My hats off to him. He had me really worried. Now I’m not.”
  • On immigration: Kudlow said today that he wants the NEC to play a role in immigration policy. He has previously expressed support for Trump's views on immigration and his plans for a border wall.
  • On The Great Recession (2007): "The recession debate is over. It’s not gonna happen. Time to move on. At a bare minimum, we are looking at Goldilocks 2.0. (And that’s a minimum). The Bush boom is alive and well. It’s finishing up its sixth splendid year with many more years to come."

Correction: This story has been updated to clarify that Kudlow resigned from Bear Stearns, rather than being fired, and remove an incorrect detail about the cost of his treatment for cocaine addiction.

Go deeper

Updated 2 hours ago - World

UK government: Kremlin has plan "to install pro-Russian leadership" in Ukraine

British Foreign Secretary Elizabeth Truss. Photo: Gints Ivuskans / AFP via Getty Images

The United Kingdom's Foreign Secretary on Saturday night said the government has "information that indicates the Russian Government is looking to install a pro-Russian leader in Kyiv as it considers whether to invade and occupy Ukraine."

Driving the news: U.S. National Security Council spokeswoman Emily Horne called the intelligence "deeply concerning" in a statement to Axios. The Biden administration has said Russia is actively manufacturing a pretext for invasion and warned that Putin could use joint military exercises in Belarus as cover to invade from the north.

Updated 4 hours ago - Science

This powerful new accelerator looks for keys to the center of atoms

Illustration: Eniola Odetunde/Axios

Nuclear physicists trying to piece together how atoms are built are about to get a powerful new tool.

Why it matters: When the Facility for Rare Isotope Beams begins experiments later this spring, physicists from around the world will use the particle accelerator to better understand the inner workings of atoms that make up all the matter that can be seen in the universe.

Updated 4 hours ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: FDA OKs antiviral drug remdesivir for non-hospitalized COVID patients — Walensky: CDC language "pivoting" on "fully vaccinated" — Pfizer and Moderna boosters overwhelmingly prevent Omicron hospitalizations, CDC finds.
  2. Vaccines: The case for Operation Warp Speed 2.0 — Teens and adults missed 37 million vaccinations during COVID — Team USA 100% vaccinated against COVID ahead of Beijing Olympics — Kids' COVID vaccination rates are particularly low in rural America — Annual COVID vaccine preferable to boosters, says Pfizer CEO.
  3. Politics: Arizona governor sues Biden administration over COVID funds tied to mandates — Biden concedes U.S. should have done more testing — Arizona says it "will not be intimidated" by Biden on anti-mask school policies.
  4. World: American Airlines flight to London forced to turn around over mask dispute — WHO: COVID health emergency could end this year — Greece imposes vaccine mandate for people 60 and older — Austria approves COVID vaccine mandate for adults — Beijing officials urge COVID-19 "emergency mode" before Winter Olympics.
  5. Variant tracker