larry kudlow or whoever got that would need to be confirmed by congress. here's the interesting thing, i can only tell you as of last night, maybe things have changed and donald changes per minute sometimes, as of last night, you know, trump was telling people he's unsure about larry kudlow in that position. he has not made up his mind and had some misgivings. larry kudlow is a free trader, rabid free trader, free market evangelical. i think he would be amazing for that job as someone who agrees with the principles. donald trump does not want in on that. connell: somebody must be saying, hey, you are going too are. >> lot of free market types including steve moore. the other person on that short list is peter navarro. somebody that is very up on china and you know, he's someone they guess trump is aligned with on issues. the professor of economics. that's where we are right now. i think if larry kudlow doesn't get this job, there's going to be a lot of free market types like steve moore, art laffer, all the guys that develop the basics of donald trump's ta

larry kudlow is great economist, great supply-sider, someone who helped draft, one of major guys writing economic plan that trump has. and i think it would make a lot of sense is right. >> if he became the head of the council of economic advisors. david: just sticking with this for a second, fred, doesn't the tax plan they have outlined, cutting tax rates dramaticking both for corporate and personal need someone like kudlow in there, real supply-sider pushing those things through when wall street guys don't seem to care as much about it? >> absolute are it matters. personnel is policy is the old saying. you want somebody that will be your personnel to be pushing a policy they believe in. i'm old enough to happen what happened in the reagan days when he had 30% across the board tax cut and there were a lot of people working for him, not believers in it, hacked away at it and delayed, they allowed the recession by stretching out the tax cuts with the recession to last longer. david: i remember too, brother. you're not alone in that category. i'm sure christie doesn't, on to what is happeni

i heard larry kudlow was possibly slated for job. larry kudlow, cnbc commentator, our old friend, melissa. there is supply cider. no steve moore, larry kudlow or steve malpass. mnuchin goldman sachs. anthony scaramucci, goldman sachs. gary cohn, goldman sachs. they are kensyians. they are kensyians. david: it is pronounced kensyians. rhymes with brain. >> you were on editorial page of probably wrote that every other sentence because you hated goldman sachs so much. david: well i don't hate goldman sachs. i hate it when there is crony capitalism. they do a lot of that. >> did you like kens syism? david: nobody here like keynesianism. >> why is this so great? david: putting words in my mouth, charlie. putting words in our mouths. >> i would like larry kudlow. david: steve forbes is coming up because you asked him, because you asked, we'll ask steve forbes. >> tell steve i said hello. david: we want to make you happy, charlie. see you in the gym. melissa: love you, mean it. david: better pump up because melissa is after you. melissa: ya

larry kudlow the great economist who along with steve moore put together for donald trump's economic plan who has been with trump for a long time way back in the campaign and certainly a brilliant economist. i personally am very disappointed that trump made this pic and hired another goldman sachs guy over larry kudlow. lou: bannon of course is unique goldman sachs alone because he's an outsider of the highest order and his as anti-establishment as you can get. he's one of the guys that i really like as well. it looks like we aren't hearing from him. i then heard a word from him. he has disappeared into some sort of insular vortex within whatever it is that reince priebus is constructing over there. i am deeply troubled by the notion that people are feeding donald trump, i mean you know i begin to wonder does he know who his new rnc chairwoman is? is he briefed on the relationship, the fact that she is a swamp critter if you will in the swamp. rex tillerson a second meeting with him and condoleezza rice shows up at the trump tower and the next thing one of the largest clients if not

. >> i have gotten to know steve, when larry kudlow and i were working with donald trump to put the tax plan together, steve mnuchin was at the table with us every step of the way. he's a supply side -- >> he is a supply cider. >> i believe so. so he's a very smart guy. i think where donald trump needs to fill in the gaps at this point, paul, when you talk about his economic team, the senior economic people like gary kohn and steve mnuchin, they're not people that paul ryan or the congressional leaders know very well. they don't know much about him either. i think that trump is going to have to pick someone at his council of economic advisers, someone like larry kudlow, perhaps, who is in the mix who does have the relationships with the paul ryans and mitch mcconnells who they trust and have long relationships with, to carry the message of how to get the tax bill done, do the deregulation, the energy policy. that's the one piece of the puzzle missing right now. >> you mentioned at an event in michigan that larry kudlow was in the mix, would maybe be chosen. you say it's not settled yet,

joining us now is cnbc senior contributor larry kudlow. that was president obama kind of taking a victory lap on the stock market. >> well, who am i to stand in the way of his victory lap? my view is stocks rebounded because stocks rebounded, company profits had a big increase after the crash of 2008-2009. i think this was largely profits driven. fed interest rates 0. i'm sure that contributed. i don't think it contributed as much as some people do. as profits have slipped in the last quarters the stock market has stopped rising until what appears to be the trump rally. i don't juwant to make this sou partisan. i don't want to trample on that stuff. >> i guess the question larly now for everybody is can a market double or triple after it just tripled? what kind of policies no matter how great they might be for growth can possibly follow up on that kind of performance? >> i believe as you heard me say it a lot of times lowering tax rates on businesses as mr. trump intends to do at the republican congress along with personal tax cuts will in

here is a good thing for the markets, as we were first to report a little earlier today, larry kudlow is being considered now, finally, a cabinet-level job inside the trump administration. from what we understand, council of economic advisors. i can't wait to see our millionaire usher, anthony scaramucci, bring kudlow into trump tower. we should have, we should have cameras on to see anthony scaramucci bringing in larry kudlow because that would be of all the guys that anthony brought in, this would be one of the guys to celebrate if you believe in free market economics which i do, and i know you do. liz: yeah, yeah. >> we'll see our millionaire usher, ushering in a real economic guru, larry kudlow. liz: when you talk to traders, i was getting emails from scott here on the new york stock exchange, aside from the fact that we have real support from stocks across the board, it is sort of that perception in the end that it's a trump economy perhaps that could really be friendly to all of this but you and i talked about the trade element. if the trade line is free between the united state

where is larry kudlow. neil: where is steve moore in this? >> he would like larry to get a the fact that larry kudlow is not in there is driving supply siders nuts right now. they're saying like where is our -- how dare you, donald trump, the guy -- we stood by you during the administration, during a very crazy campaign, we helped develop your economic claim. gary cohn would never write economic text. a little dr. evil. i could see larry kudlow like this or arthur laffer like this. neil: he won't get it, vit feeling. >> you don't think so? i don't either. i don't know, maybe it's not going to come out. trump in private conversations has been raising questions about him that makes you think he's clearly leaning against a point in the cabinet, it's not so much cohn ditching it, i hear it's wilbur ross, the protectionists against china. larry won't go for that. neil: a lot of the goldman guys are going on the administration, goldman is paying whatever moneys they're owed, bonuses, money that would go over years, like now, could be that a problem

trump is unsure about possibly naming larry kudlow to have the white house economic advisers. another possible contender includes peter navarro. back to you in new york. nicole: the presidential election is history that families continue to argue about results as we head into the heart of the holiday season. according to the fox news poll last night, just over half, 51% say they have arguments with friends or family about the election. voters are divided by 77% see in the country is a dysfunctional family breaking apart. only 18% say it's a tightknit family emerging stronger from challenging times. democratic leader chuck schumer is cleaning house in the media department. the new york democrat has fired nearly everyone on this video team. senate democrats need to refocus their message on sharper videos. just before the holidays had worked in the upper chamber by two decades. back on track. growing at its lowest rate since last year according to the estimate and manage the rising debt as well. a slowdown of birth had a slight drop in immigration of contributed to just 8.7% incr

that's why the wa"wall street journal" is backing larry kudlow. so there will be a debate. >> we're still looking for a trade rep. the question is what that trade rep will do if you have people like wilbur ross and peter navarro dominating the trade conversation. >> absolutely. fedex was asked about it on the call, worried about it. trade is so important. nike was asked about it on the call. said it was too soon to tell. >>> president-elect trump says he will work with boeing and lockheed martin to reduce costs on defense projects including a new air force one. he met with both yesterday. >> we will get it done for less than that. we are committed to working together to make sure that happens. i was able to give the president-elect my personal commitment on behalf of the boeing company. this is a business that's important to us. we work on air force one because it's important to our country. we'll make sure he gets the best capability and that it's done affordably. >> in a statement, lockheed martin's ceo called the meeting productive. said she co

. >>> larry kudlow emerged as the front-runner to chair the white house council of economic advisers. kudlow was an early trump supporter and served in the reagan administration as a budget official. larry kudlow is also a senior contributor to cnbc. >> no truth you got the job advising theresa may? >> still waiting for the call. not quite the end of the year. could still come. >> leather trousers a contentious issue. >> and the kitten heels. >> you got those. >> wearing them now. donald trump pushed back against an nbc news report that vladimir putin may have personally directed russian meddling in the u.s. leak shun. a kremlin spokesperson is saying either provide the evidence or stop talking about it. otherwise "it looks indecent." you can understand why some people are saying, please, show us the evidence. >> that's why the white house is getting questions not only from trump but from the inside, from some democrats saying how much did you know? when did you know it before the election? and why didn't you go public with it? sources are telling nbc that the concern among the obama

president-elect looking at larry kudlow for the economic council. why the commentator is different from other republicans and why his views line up with donald trump. president obama is about to hold what is described as his final news conference of 2016 of the what he might say about russian hacking, breaking news of a chinese theft of a u.s. underwater drone. more on that in a moment. ordinary tissues left dakota's nose sore and red. so dad slayed the problem with puffs plus lotion, instead. with lotion to soothe and softness to please. a nose in need deserves puffs, indeed. jenna: bird strikes forcing two planes to make emergency landings in illinois yesterday. both planes carried more than 160 passengers. the first strike disrupted southwest airlines strike heading from chicago to las vegas causing that plane to head back to the airport. we have pictures of the second flight. the bird flew into the engine of this plane heading from chicago to florida. the captain shutting down the engine and bringing plane back to the airport. the everyone got o

larry kudlow i've known for generations, a good friend of mine and a great guy. the article goes on to say this, kudlow lacks a graduate or undergraduate degree for economics and hasn't written scholarly papers. >> and i also read that rick per perry failed science in college. >> and president obama and community activism? no, drop it. >> you've got a degree in-- >> i would say this, apparently you don't have to have a job to be a president, right? so who cares if he doesn't have a degree. [laughter] >> he went to harvard. stuart: i want to move on to individual corporate stories here and i'm going to start with mcdonald's. they're talking, i believe, they're planning, what, delivery, home delivery? >> yes. >> i'd like a big mac, brought to my door, large fries and maybe an apple pie. you can do that starting in january, they're going to test it out in florida, tampa, orlando, miami. you can order off the menu and use uber eats app. now, uber eats is in about 50 cities around the world and literally much like uber cars, you can track your delivery and mcdonald's

. >>> when we come back larry kudlow will join us at post nine and get his take on this rally and how the trump administration might impact the markets next year. but first, one stock helping boost the dow this morning, take a look at shares of nike after results last night. we'll talk about whether or not that can offset the weakness in goldman today. back in just a moment. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. tadirectv now. stream all your entertainment! anywhere! anytime! can we lose the 'all'. there's no cbs and we don't have a ton of sports. anywhere, any... let's lose the 'anywhere, anytime' too. you can't download on-the-go, there's no dvr, yada yada yada. stream

does larry kudlow understand the economy? the answer is yes. david: and this election was all about getting those academics from the imf and all these other eggheads out of there, those who don't change the economy for the good should not be in the process of making policies. >> well, and these academics, it's like a baseball player who can't hit or can't throw. not going to be good for the team. get people who can deliver results. hello. david: i like that analogy. we'll see you tomorrow on fox news channel at 11 a.m. for forbes on fox. be sure to tune in. melissa. melissa: all right. who is walking through the doors of trump tower today? the cabinet is still taking shape. we've got the details on that next. plus, my next guest is receiving phone calls, e-mails and tons of mail asking him to vote against the president-elect. will he budge? ♪ ♪ david: well, the arrivals aren't slowing down at trump tower. the president-elect continuing transition meetings today including a face to face with homeland security secretary jeh johnson. fox busin

i hope he puts larry kudlow at cea, peter navarro as head of trade policy clears that away, and that would be a very good pick. larry is rich too but really smart and knows economics. you know, gary cohn, the number two guy at goldman sachs was appointed the head of nec national economic council. i think that's a bad choice, not because he's rich but ideologically he's a progressive. one of the good things about donald, being rich, he's not counting against you, so to speak. lauren: thanks, charlie. david: he's appointing successful business people to head the economy and appointing very successful generals and admirals to deal with security. the security of this nation. donald trump is meeting with some of those generals and admirals right now. we're awaiting him to come out and talk about his meeting about the future of security in this country, particularly relevant in light of the attacks going on in europe and fears of similar attacks happening here, not on his watch. he's going to say. of course, he's not president yet, but he has been putting the team in place. top generals an

larry kudlow will discuss whether the picks will bring that deregulation so many investors are now expecting. >>> speaking of which, let's start with the market new highs. bertha coombs is in times square and bob pisani is behind us on the floor of the new york stock exchange. ladies first today. >> nasdaq all time highs stoked by small and mid caps since the election. today it is really a big cap rally. we are seeing a little more love for the tech big caps like apple up nearly 2%. alphabet is up more than 5% for the week. that is the best weekly gain it has seen since july of 2015. not huge gains today the big cap tech etfxlk is at a 16-year high. it is 25% below march 2000 all-time high. we are seeing an historic high from microsoft. at least in terms of the chart. its market cap is still well below the record 619 billion back in 1999 but price earnings ratio is about half what it was so the valuations are much different on big cap tech names. bullish earnings and bullish outlook helping to take the index for fresh high. chips have been among the best tech gainers year to date. take a loo

i think it's key that he bring someone like an art laffer or larry kudlow. if he wants to keep his promises he has to deliver that growth and those conditions for growth that pulled the market up nearly to 20,000. stuart: oil is at $53 a barrel and industrials are down. our next guest is steve hilton, a favorite guest on this program. he was with us during brexit. he got that right. he was with us during the election, november 8. welcome back. good to see you. you worked for brexit. you wanted the brits to leave the european union. then you came here and you wanted donald trump elected, right? >> exactly. stuart: this is the stock market trump rally. >> what matters is what under lies it. why is this happening? there is con fir dense and optimism about things that will affect the real economy. real people of the lives. supported by a republican congress. think of unified government behind a pro growth agenda which is likely if all goes well, to lead to higher job growth, higher income growth, more people spending, companies want to go invest. that positive c

rachel: one of the names in the rumor mill would be the appointment of larry kudlow, recognized for his television commentating work as possibly the chair of the economic advisers for president trump. would you welcome him? rep. brady: that would be a grand slam appointment. experience with the federal reserve, his knowledge of free market principles on tax reform and growth, i cannot think of a better choice for this new administration. i would be very excited by that nomination. rachel: speaking of free markets i wanted to ask you a little bit about how donald trump has been talking in recent weeks about tariffs on american companies that move jobs overseas, potentially a 35% tariff. often, we hear house republicans talking about more of incentives, carrots as opposed to sticks. what do you think about this idea of a tariff? doing thisng to be as part of tax reform? i think it is right at the heart of what america knows, which is the way things are going today we just can't compete and win. we are competing with one hand tied behind our back. i am convinced that going that direction,

steve liesman, larry kudlow, showdown at 12:15. i'm connecting our brains so we can share our amazing trading knowledge. why don't you just go to thinkorswim's chat rooms, where you can share strategies with thousands of other traders? mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. >>> welcome back. i'm phil lebeau with breaking news regarding volkswagen. agreeing to a settlement regarding 3.0 liter diesel engine vehicles here in the united states. about 80,000 of them. the company has agreed that it will be offering compensation for those owners of those vehicles. remember, these are vehicles separate from the 480,000 2.0 liter settlement we saw a couple of months ago. we don't have a final price tag as far as how much the settlement will cost the company. it is expected to add, the estimate is they would add another billion dollars to the growing tab that volkswagen has faced regarding the diesel emission scandal here in the united states. back to you. >> all right, thank you very m

>> look, this is why i have been so heavily pushing larry kudlow even making this point. donald trump needs their kudlow supply side. >> eyes like you are shut out. >> no, not shut out. >> you are shut out, dude. >> here is the point. it would be very wise for donald trump because they think he and his voice at the table reason. neil: dealer showed clinton when the? >> not at all. you guys are backing me in the corner. if you look at this cabinet, if you look at the people at the department of transportation and the people, andy pazner, gray free-market conservatives. down the line to epa and regulatory agency a very free-market supply-side. neil: manyfold thinkers. i understand that, but i also understand growing the economy can deal with that and get this thing going. let me tell you something. this is the most disheartening thing about donald trump. he put in an avowed progressive as head of the national economic council. gary cohen supported president obama. he broke for president obama because goldman sachs got screwed by dodd-frank. neil: the speech in there, maybe

>> can i first give deep and lasting respect to larry kudlow and his ideas? the couple of things i don't buy. they don't buy that congress will give him all he asks for. that is not the fault. i think they don't buy the effect of all of this stuff. there are big numbers for potential gains. there are huge numbers built in for potential gains from kaks tax cuts. there are a good amount who say a tax cut that looks like the one you guys have built which gives a lot of rebates and cuts to the wealthy doesn't end up juicing growth as much as you guys think. >> steve liesman, lower marginal tax rates your take home pay goes up. you are rewarded for work ethic and success and investment and risk taking. i think the incentive model works. you can quarrel about the a exact number. >> people have done very well. the idea that you are going to juice the incentive to work even harder doesn't seem like -- >> all i will say is this. i have a great book for you to read. christmas shopping called "jfk and the reagan revolution." we go through the numbers very carefully when

kudlow. chairs white house economic advisors, and steven miller is senior advisor, mr. miller appeared on hannity last night, he said that next phase is supreme court picks. >> are we getting originals on court. >> that is one first thing that is happening we're going to cabinet process right now, next is supreme court. list of 20 judges, we worked with a -- >> we have it down to a few. >> people will love who believe that constitution should be interpreted as it was intended. liz: look who is here. judge andrew napolitano. you met with president-elect trump today, what was that meeting about? >> well, what mr. miller said is true, president-elect trump is nearing end of the completing the nomination are in cabinet and -- for the cabinet and turned his attention to supreme court, i think he began today soliciting opinions from a lot of people who watch and monitor, and read about and study and write about and lekurleclercture about utter -- lecture about the supreme court to get our opinions

i hope i am wrong about, that i hope apointed larry kudlow as economic advisor, and thin has an idealogical framework, for when you tax more of something you get less, we'll generate promis profit out of that thinking that would be a more stim lative part of the platplatt -- platform. >> maybe we're looking at this wrong with too many cooks in the kitchen. but maybe there is a wealth of opinions coming in to make it a better stew in the long run. >> i believe that is an astute point. he almost creates chaos. he lives off that and he finds the path. david: coming up president-elect trump's plans to roll back financial regulation may not be such good news for all banks after all. we discuss it coming next. david: president-elect trump may have negotiated a deal with boeing ceo, but boeing is making a deal with middle eastern buyers, we'll tell you who after this. t. rowe price. invest with confidence. you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to d

and this potentially could as well open up the door for larry kudlow over at the white house as well. they were two of the top for that post. just to read really briefly from this the national trade council will work the national economic council and the domestic policy council. they are trying to bring the sin with several other agencies but the focus here appears to be two things that he has talked about. trade in china. >> you wonder how he mixes in there. thank you blake. big pharma has been holding back today. the likes of pfizer and merck as we look at the points that stand out a bit. nintendo celebrating a super splash. they will follow up. if you seen at all. all kinds of records being broken. it's in the first four days. investors don't see it as a smashing success. only 8% of those people have downloaded have actually paid the one time fee. that is a problem if you are nintendo. and the stock has sold off today. america's satellite indications are at risk. even russian anti- satellite missile. how would we use our cell phones if the satellite went down. it's exclusive and it

radical tax cutter, larry kudlow. he so far not on the trump team. people were hoping that he would be on what happen snd. ha? >> i don't know. but having him onboard would be good. with onc council of economic advisers would be good because that is more of i think tank lethargy on good things if they get push saying this is go to be all right. just put the economic politics 2018 if we don't have a good booming economy, the republicans are going to get shellacked. that is bad not just for losing control of senate, and house, you go governorship. they set the tone for census of 2020 redrawingcongressal districts if they lose those govern ships forget it. david: we heard that might hurt republicans if we don't get a tax cut in the first year, maybe first half of the year, you might have a slow economy. some people sa well, we have to delay tax cut first do changes with obamacare. but maybe business tax cut. >> politically you have to do both, you gets a bang from both. when you lower the tax rates across the board, this is what kennedy did, hdid more o

now let's bring in larry kudlow, our senior cnbc contributor. good to see you. >> thank you. >> earlier, we referenced to the big trump tease. a message is going to be released sometime after 4:00 p.m. that will be very favorable for american workers. give us a hint, larry. what is it? >> i don't know. i'm sure mr. trump is going to have something to say about these very strong confidence numbers and his overall economic growth plan, tax reform, regulatory reform, energy reform, maybe better trade deals. it is hard to say. but you can see whether it is the stock market or the confidence numbers, there is an uplifting feeling going on. a lost pessimism is dissolving. we're finishing the year on a high note. i'm sure mr. trump will make note of that too. i hope he follows through on his policies. that's all. clean the swamp, drain the swamp, i'm for it. >> draining the swamp, we can talk about that there are those who criticize whether he's gone about draining the swamp with some of his appointments, that being said, moving back to the idea that t

larry kudlow there in the administration the last time we got it passed will join us. we get the final trades out of oil when "power lunch" returns. ♪ ♪ well, if you want to sing out, sing out ♪ ♪ and if you want to be free, be free ♪ ♪ 'cause there's a million things to be ♪ ♪ you know that there are ♪ and if you want to be me, be me ♪ ♪ and if you want to be you, be you ♪ ♪ 'cause there's a million things to do ♪ ♪ you know that there are ♪ >>> hello, everybody. i'm sue herera. here is your cnbc news update at this hour. the obama administration is ending some armed sales to saudi arabia over concerns about the killing of civilians in yemen by a saudi led coalition. the sales being canceled involve precision guided munitions. microsoft co-founder and philanthropist bill gates immedia meeting with donald trump at trump tower. >> we had a good conversation about innovation, how it can help in health, education, impact the foreign aid and energy and wide ranging conversation about the power of innovation. >>> a handwritten and hand illust

larry kudlow. bill: mother's milk. we know all of his lines. see you later today and see you at 4:00. >> fox business. i'll be here on news channel at 2:00 p.m. >> 20k. >> i got a busy day. bill: thanks, melissa. martha: so former clinton campaign chair john podesta exposed something, quote, deeply broken at the fbi. former speaker of the house newt gingrich reacts to that. bill: also with members of the electoral college, will they flip their vote to go against donald trump? apparently they need 37. is that possible? will that happen? >>> one lawyer arguing it's their constitutional right to do so. we'll get into that. but first from last night in pa, here is the president-elect. >> it's about you, it's not about me. it's about you. i am asking you to dream big and bold and daring things for your family and for your country. i am asked you to believe in yourself again, and i'm asking you to believe in america. see me. see me. don't stare at me. see me. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see

>>> cnbc contributor larry kudlow joins us now. he just met with mike pence. what did you talk about? >> the economy. we talked about the trump stock market rally. >> and i assume he is very happy about that as you must be. let's talk a little bit more about taxes. we just had on carl ikahn. i asked him about how he would feel basically if a company he owned became untargeted by a trump administration about moving jobs overseas. his answer was interesting. i would like to get your response to it. the answer was companies will not need to do it if the kinds of tax and regulatory reforms that the trump-elect administration has talked about actually become law. >> i think he is exactly right. i think what mr. trump is doing is saying don't jump ship now because we are going to have such substantial business tax reform you won't need to jump ship between repatriation and you won't need to jump ship so i want you to stay with me right now at the beginning until we can get that legislation through. >> i love having you on cnbc and i love your being a contributor. ha

the other major architect of that was larry kudlow. full disclosure, friend of mine. he is also hasn't been given a job. what steve moore said last night is that a major supply sider is going to get a job. he said this on fox this last night which sent on transparent time for speculation. he's not going to see that if he's gotten a call. my guess is either malpass or jerry kudlow. the one job that is open and interesting from an economic policy which could balance out the trump cabinet. the council of economic advisers is a cabinet level position. neil: reince priebus used to run not for ford. >> i remember that. what a lame of saying. i didn't realize green man. that should have disqualified him. you just can't rally round the flag and expect inflation to go down. you would have the keynesian goldman guys here and you would have at least somebody over here and maybe budget to balance it out because a lot of people believe trump ran on cutting taxes and regulations. >> he dials that back but the moderate liberal way of handling it. i don't think that's going to get th

i hate to say it again, gary cohn has his ear and not larry kudlow. neil: is there doubt that kudlow won't get the -- >> there is doubt. there's other people and, you know, larry, let's be clear, larry is what he is. he's not going to back down. i mean, he won't back stab donald -- neil: are you entertaining any trump positionses? >> he wants me to clean the floors. neil: he doesn't like you, does he? >> he actually does like me. he's mad i called him out on some of his -- neil: has he tweeted anything about it? >> no, i actually know him a long time. neil: you and i both have. >> he's a great man. i didn't like some of the stuff, you know, some of the stupid things he said. i could not condone that. but net-net am i happy -- neil: but if you call the campaign, they are going to get back to you, because that's the worst call in the world, charlie gasparino on -- >> hope hicks is actually very nice. i give brian a call because i don't want to hear them curse at me. you've got to hear what somebody in the trump transition team said to brian recently whe

a lot of core beliefs, folks are upset there aren't more tax cutters or people like larry kudlow and steve moore and steve forbes and so forth. but the core belief, i believe, when you hear donald trump talk is that incentives matter. if that you have more incentives for people to keep more of what they earn or corporations to keep more of what they earn, you will have greater growth in the society. he believes in that core belief of tax cutters does he not? >> i believe he does, i believe he does, and i think they're trying, the proposal is to cut the right to 15%, that's the proposal that's in front of congress right now. david: that is more than half. so you go from close to -- it says 35% there, when you add the extras with the obamacare tax it could be up to 40%, down to 15%. huge cut in corporate taxes and similar cut in personal taxes. do you think that will increase our growth? >> i think so, and i think what's dramatic is you can go from seven brackets to three brackets, the top rate from 39.6 to 33%, this is all potentially, but i think the potential shock is they're talkin

julie grace, rumors are flying that larry kudlow will be appointed to a major economic position. we first got a hint of that, we were talking to steve moore last night. let me play a clip of steve moore, then get your reaction. >> keep your eye what happens next 24, 48 hours, i think you will be very, very happy a couple of people picked for some. economic positions. not confirm yet. david: tell us more. tell us more. >> a little teaser here. david: he is a little bit of a tease, steve moore, what have you her if anything about kudlow or some of the other supply-siders that folks want in the administration? >> so i haven't heard a ton of that up on the hill. i heard more about the va secretary, heard names mitt romney floated for that, jeff littler. i know he had a meeting earlier today with, totally blanking on his name, wow. but as far as transition goes he has a lot of big decisions to make. he is meeting with people and vetting people, i think it will be interesting to see how it all pans out. david: we've got some opinions we got through "fox news poll," neil. a lot of fuss

> reporter: i am here with larry kudlow. he just stopped by. he is on his way in to talk to donald trump at the bottom of the hour. he has agreed to give us a couple of minutes. let me ask you your impression of the transition. we saw the announcement of the trump ceo council and business advisers. what do you make of that and what you have seen so far? >> in terms of council he has the best and the brightest ceos and i'm sure he will use them as a consulitative sounding board. terrific idea, keep in touch. he has made his statements and wants topromote american business and jobs. the big tax cut bill will come. that will take a little while. i think mr. trump got off to a very good start yesterday saying keep in america. america first. we want to protect america and give you incentives with the tax bill. >> we saw ken langone saying the danger is the impression of a managed economy and wants mr. trump to be remembering that we don't have that. how do you come with that challenge of pushing ceos to do what you want? >> i don

i'm waiting for some somewhere along the time, steve moore and larry kudlow get there. if they got in there i would jump up and down and spit wooden nickles. david: for the sake of the laffer curve, i hope you're right. >> thank you very much, david. david: thanks very much, art. melissa: record day on wall street, dow, s&p 500 and nasdaq all closing at brand new record highs. take a look at this. dow ending about 85 points away from 20,000. it has been three weeks to the day when we first hit 19,000. can you believe that? what a wild ride, as the trump rally rolls on. david: oh, seems unstoppable, for the moment. anything can happen. exposed for being a political hack, his words, in the "new york times" hires him. new details you will not going to believe. melissa: the president-elect's choice for secretary of state is drawing praise and alarm. nile gardiner, advisor to margaret thatcher, sounds off on rex tillerson's controversial ties to russia and vladmir putin. >> when he gets the friendship award from a butcher, frankly it's an issue that i think needs to be exami

. >>> donald trump is considering appointing cnbc senior contributor larry kudlow to chair the white house council of economic advisers, according to a trump adviser. economist steven moore said yesterday kudlow would be appointed to the post, quote, within the next 48 hours. moore later walked back his comments saying he jumped the gun, but added kudlow is on the short list for the post, and kudlow has declined kudlow. kudlow formerly advised trump during the campaign, a known supporter of deep tax cuts, he shares trump's desire to slash tax rates, but disagrees on trade and protectionism. the post of kudlow would be another unorthodoxed choice by trump. according to "the wall street journal," kudlow lacks a graduate or undergraduate degree in economics and would just be the second chair without a doctorate. >>> donald trump will nominate a high profile attorney, david freeman, as ambassador to israel. freeman has served as principal adviser on israel. some of his positions are already proving controversial. in the news release, freeman advocates relocating the u.s. embassy to jerus

it's true, i larry kudlow and i'm a local.actually, when random house started organizing this, which one? that works. this one doesn't sound great. random house said a while back when we finally got this thing published, it's good to have a couple local bookstores and i said how about across the street? he said terrific idea. weregoing to do a bunch of these around the country, we've done tons and tons of media .a lovely op-ed piece of ours was published in today's wall street journal. this is my cowriter and a good friend brian domitrovic. brian by the way is the head of the laffer center? >> senior associate. >> senior associate and a longtime friend of mine. his previous book iconoclast was all about the supply side revival going on and he's a harvard trained historian as i've said before. his historiography is the glue that held this entire book together so what i want to do is just read a few excerpts from this thing to get a feel for it and brian will then speak on whatever he wishes to speak about and then we will enjoy some wine, cheese, whatever's out there. i wanted again,

and our friend and colleague larry kudlow is one of the contenders for that. so we don't know. it's just the way that sean spicer phrased this announcement, saying it was about economic development would be good for american workers sounded to me like it was something regarding a particular set of jobs associated with a factory or a deal. but we're going to have to wait and see when he announces it this afternoon. >> and john, what we're seeing right now, our viewers, donald trump just coming outside the front door of his estate, mar-a-lago, waving to the crowd. he was meeting with david rubenstein earlier today. we don't know what they discussed. kayla, with regard to your question on tax reform, my question is it would be, based on people i spoke with the last few days in washington, d.c., more about a specific company or industry, because i can -- and john can probably confirm this -- despite donald trump being the gop nominee, they are ve very, say far apart in what paul ryan or donald trump may want to get from tax reform, are they not, john? >> yes, sure, there's some dis

so does larry kudlow join us. he is cnbc contributor and informal trump adviser. leslie, what to you think will happen with this tax holiday? skbl talking to dozens of bankers focussed on this stuff and speaking to people is that executives are looking at this influx of cash, maybe a trillion dollars worth of the 2 trillion trapped overseas as a way to do m&a. that has been true in past tax holidays. so they are expecting more of the same this time. >> what do you think is going to happen with this holiday? >> i just think repate reeuation of cash is absolutely terrific. however corporations use it in the united states is a good thing, not a bad thing. you will unlock cash and put new cash in investor hands whether dividends, whether shareholder buybacks or if it is m&a. you will re-oxygen ate the entire economy. look at this. go through this with george w. bush which had a small run for one year, $300 million. look at the job impact. the so-called jobless recovery 2013 nothing. 2003. 2004 when this tax law went into place 2 million new jobs created. in 2005, 2.5

kudlow who might be chair of the cea, certainly a free trader there. i'm not seeing the market pricing in that fearful reality of what those implications could be across multinational businesses. >> jeff, another call you have here underweight europe, is that still what you're telling investors to do next year? >> yeah, looks like another year of europe maybe lagging the u.s. one thing you've got the dollar rallying, that may continue to act as a drag. >> that helps, doesn't it? european profits will go up with the weaker euro, europe's a lot more inexpensive when you look at a multiple basis. and if the u.s. kbhi does better, that should help europe too. >> yeah, on the margins certainly, but relative economic growth is favoring the u.s. the imf expects the u.s. to go from 1.6 to 2.2% economic growth next year. europe's going to remain about 1.5, 1.6. economic surprises rolling over in the eurozone versus picking up the u.s. and the currency effect still acts as a drag when you're investing overseas. i think the combination of those factors, plus poli

. >> that was a very cryptic no comment from larry kudlow just now. it is one month since election day. we are this much closer to dow 20,000. stocks are higher again. i was just talking to a trader on the floor. we all agree stock prices will never go down again. >> that is not a sign of euphoria. >> we continue to move higher. we have someone who says this rally is not overdone and there are many areas of the market that are still having room to run. that will be coming up later. >> if you are invested heavily in the bond market as so many have been, your portfolio could be down since the election. we have more on how exposed you should be to fixed income right now. >> and as the transports also hit new highs a new report says airline profits could decline next year. we have a debate on which airline stocks could be worth buying in the meantime. >> we are watching trump tower. the president-elect's cabinet is taking shape. we will talk about stories to lead the epa with harold ham to ring the closing bell, continental resources. we will speak to him

over larry kudlow who actually defended his policies. think about this. gary colin is a globalist corporatist liberal obama supporter. particularly in its first terms. there is nothing supply-side. neil: that could a lot about term. that only gets you so far. >> i don't -- maybe. or is what's known as a star screw her. only they don't say screw -- neil: did they bring you food on the ground level? >> now, i went to a after that. neil: at the pizza shop sometimes they let you go to the front of the line. >> either way, i met some guys they're talking about you. to that view. one of the daughters wasn't in turn way near. you are kind of like big jersey. tony soprano is big in jersey, too. >> thank you very much. i can so picture that. hey governor, how you doing? >> i was like don't break it up in. his light come on, charlie. >> if you are having problems getting into the amendment and. we will have more after this. you do all this research on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more r

kudlow, and both were giddy about the sharp drop in the corporate tax to 15%, the deregulation, the encouragement of small business. so i'm a big fan of the russell 2000 as far as a market is concerned. but, yes, i think the dynamics are very favorable. but trump is, i think, a supply side change man. we'll see if he can really cut government spending. i have my doubts. >> excellent. happy holidays, merry christmas, can't wait to talk to you after the new year. that was mark david faber and gang. >> all right. thank you, rick. send it over the mike, now, as well. >> all right. we'll send it over to jon fortt with a look at what's coming up on "squawk alley" at the top of the hour. >> like a flea-flicker, mike. yes. coming up on "squawk alley," new evidence that russia was, in fact, behind those political election season hacks. also uber slapped on self-driving cars in san francisco. we'll find out where they're going to go with several driving next. finally, billionaire carl icahn has a controversial role in the trump administration. we will dig in on that and find out what the cont

kudlow and i and steve mnuchin put together for donald trump. we'll bring back, we estimate trillion dollars of foreign money. potentially more than that by the way who are the big winners if you have the repatriation tax holiday? it is tech companies, googles, microsofts, apples. i thought it was a very productive meeting. i think these tech leaders have a lot to gain from a trump presidency. maria: but do you get a sense they will bring that money back? >> oh, yeah. i think they have been waiting a long time for this. microsoft said it will bring some of that money back. apple has estimated over $100 billion of money stored overseas. these companies have been waiting 10 for 15 years for this moment, maria. as you know under the old rules they would have to pay 20, 25% tax to bring the money back. by the way we estimate we could raise $100 billion in tax revenue. it is a win-win. we get money invested here in the united states, right, arthur, and we raise money for the treasury. what is not to like? >> steve, it is dagen mcdowell. yesterday, du

last night, talking in the media, larry kudlow, a commentator, speaking earlier in the week, talking about the importance of donald trump striking a free-trade deal with the british early on in his presidency. if that goes, that is a really big win. francine: is it likely? are you in contact with the government? mark: i know in number of the ministers working around this area. i think the usa-u.k. potential deal is want to really look at. that could be a game changer, right? i suspect there will not be a single day where a new trade deal is set. i suspect it will be a process of negotiations evolving over some years, but looking at the politics of this rather than the economics, i think president-elect trump will want an early win, and this would be an early win if he delivered this. i think it would be useful to the may government, which will actually show we can strike a with south korea, important as they may be, but with the most important trading nation on earth, which makes brexit look like a more benign force rather than one leading u.k. into choppy waters. francine: mark litt

vonnie: dow jones is reporting that larry kudlow is being considered up for the chair of economic advisers. fors said to be considered chair of the council of economic advisers. he served in the reagan administration. coming up, the morgan stanley chief next. this is bloomberg. ♪ scarlet: it is 2:00 p.m. in york and 7:00 p.m. in london. oliver: welcome to "bloomberg markets." scarlet: we are live from bloomberg world headquarters in york, covering stories out of san francisco, washington and detroit. u.s. talks resuming their gains as banks and tech shares lead the way higher. the nasdaq on pace for a new record high. we will be speaking with adam parker for his you and call and 2017 outlook. more bad news for yahoo! after stunning new resolutions as revelations that a billion users had their information stolen. later this hour, we will be speaking to john hofmeister. , theiews on rex tillerson opec cut and the future of u.s. shale. check on where stocks are trading with abigail doolittle. back to the races. a fade ine do have the rally that we had, stocks are off of their eyes. that's o

. >> you would think that -- >> larry kudlow thinks possibly 5%. >> i think we can get at least a 4%, but they will realize that there's more than just snapchatting. you can do tinder. and then you meet people -- >> does that help productivity growth? >> yeah, at the end, if they get married. >> they have babies. follow us here. >> you can't just hook up forever, right? >> settle down. >> how many times are you going to -- you want to be with somebody you care about. >> what you want to see in the stock market, you hit upon this -- does this situation get the millenials interested in investing for the first time? >> that may happen. i think that is possible. >> that's your up side right there. >> do they start investing in individually equities or start being etf and mutual funds? >> but it leads to buying. >> yes, but it changes the equation on how the whole thing works. >> we think it's going to be a good year for active management next year. >> okay. thank you. >> are you active management? >> we are. >> it might be a good year. that's when you really need guys like you, julian. th