Page 131 - Bloomberg Businessweek - November 19, 2018

Bloomberg Businessweek The Year Ahead 2019 Global Economics

Interview Larry Kudlow

When a CEO has a concern, who in this
administration do they call?

They can call me! A lot of them do. They
can call the president. They can call any of
us. I meet with the fancy-pants CEOs. I like
them—I want them to prosper. I also meet
with small-business owners.

What’s the concern you’re hearing from the
executives you’re talking to right now?

What I hear from small and large businesses
is, “Is there enough labor to fill the necessary
jobs?” You’ve got something like 7 million
job openings. There’s some 6 million-odd
unemployed. That’s extremely unusual with a
3.7 percent unemployment rate. So No. 1, we
gotta bring them back into the labor force,
and that’s happening as wages go up.
▷ The director of the U�S� National

22 Economic Council talks trade, You’re a free trader. How do you feel about
infrastructure, and the labor crunch the U.S. tariffs on Chinese imports?

China has got to stop its unfair and often ille-
What do the results of the midterm elections gal trading practices. And President Trump is
mean for the president’s economic agenda? the first guy to really go after this in decades.
Decades!
I think because of the split, and the
unexpected victories in the Senate, we’re What does a China win look like?
going to be fine. The tax cuts and reforms,
the deregulations, the opening up of energy, China has to show us change. These are
trade reform—the whole litany of our very serious issues, and they damage our
programs that have generated an unexpected economy, our workforce. Trade will be on the “China has
economic boom—I think that’s all going to agenda at the G-20 meeting in Argentina at to show us
be fine. Any mischief from the House will be the end of November. When I was a Reagan change�
overturned in the Senate. Cub Scout, Nancy Reagan used to say, “Just These are
say no to drugs.” My advice to China is just very serious
Will we finally see infrastructure spending? say yes to something. Something! They don’t. issues”
They don’t even respond to our asks.
It could be one of the key areas that
Republicans and Democrats agree on. You’ve been in the White House awhile,
Now, there’ll be some disagreements about you’ve known the president a long time. Any-
specific issues—priorities, funding. You’ll thing that surprised you?
have a transportation bill or a highway bill.
We’re due for a new one—the last one was in This job is the most fun I’ve ever had. The
2015. Another priority of the administration National Economic Council has all these
is to continue to develop the energy sector. smart people. We’re involved in issues across
The Permian Basin is going to put out 6 or the board. The president is accessible—I see CAROLYN KASTER/AP PHOTO
7 million barrels a day on its own. So we him constantly. He knows that I’m not bashful
need pipelines. about disagreeing. <BW> �Carol Massar