Veteran financial guru Larry Kudlow, who served as the Donald Trump campaign's senior economic adviser, said the incoming president has some of the nation's top business executives helping him form economic strategy.
Kudlow, a Newsmax Finance Insider and CNBC senior contributor, looks for those business gurus to help revive business investment.
“He has the best and the brightest CEOs and I'm sure he will use them as a consultative sounding board,” Kudlow told CNBC.
To be sure, Trump has announced the formation of a council to advise him on job creation, a group comprised of the leaders of a variety of major U.S. corporations including GE, GM, Boeing, Disney and IBM, Reuters reported. Stephen Schwarzman, chief executive officer of major investment firm Blackstone Group LP, will chair the council.
“My administration is committed to drawing on private sector expertise and cutting the government red tape that is holding back our businesses from hiring, innovating, and expanding right here in America,” Trump said in a statement announcing the formation of the council.
One of Trump’s main goals is “to promote American business and jobs. I think Mr. Trump got off to a very good start saying 'America first,'" at Thursday's victory rally.
Trump also Thursday toured of a Carrier factory in Indianapolis that will remain open, employing about 1,100, after the firm’s parent company, United Technologies Corp., negotiated with Trump to rescind plans to shutter the plant and move its work to Mexico.
"We’re going to do that all over the country," Trump vowed in Cincinnati.
Carrier agreed to keep about 1,100 jobs in Indianapolis while moving about 1,300 positions to Mexico in exchange for $7 million in tax and other incentives from the state, Bloomberg reported.
The deal is a clear political victory for Trump, who can claim to have accomplished a major campaign promise more than a month before he even enters office. During his run, he repeatedly railed against Carrier for its plan to move the Indianapolis gas-furnace factory to Mexico. But union workers and economists say that pressuring individual factory owners won’t save U.S. manufacturing jobs lost to economic forces beyond the control of companies or the president.
Meanwhile, Kudlow predicted that Trump's tax plan will help nearly every level of American taxpayer.
"The big tax cut bill will come. That will take a little while," Kudlow said. "We want to protect America and give you incentives with the tax bill,”said Kudlow — host of "The Larry Kudlow Show" and author of "JFK and the Reagan Revolution: A Secret History of American Prosperity," written with Brian Domitrovic and published by Portfolio.
Kudlow said despite Friday’s “decent jobs number,” the economy has yet to fully flourish.
“Employment population ratio has been low for the entire recovery. Business is not growing, investment is not growing,” he said, adding that productivity real wage growth are also languishing.
“It's a mixed bag. Glad more people are working but we just got to get business investment going again,” he said.
(Newsmax wire services contributed to this report).
Larry Kudlow is a senior contributor at CNBC. His new book is “JFK and the Reagan Revolution: A Secret History of American Prosperity,” written with Brian Domitrovic.
To find out more about Larry Kudlow and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com
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