BEFORE Donald Trump took office, many commentators hoped that he would immerse himself in high-quality policy advice, rather than govern from his gut. The haphazard first few weeks of his presidency have done little to encourage those hopes. Neither will Mr Trump’s decision, confirmed on February 9th, that the still-to-be-named Chair of the Council of Economic Advisers will not serve the cabinet. This confirms both Mr Trump’s disdain for wonkish wisdom of the kind the CEA usually dispenses, and his satisfaction with the economic policy advice he already gets.
That is no shortage of that. Formally, the Treasury secretary is chief among the president’s many economic advisers. Indeed, Steve Mnuchin, Mr Trump’s nominee for that role, has voiced an ambition to co-ordinate economic policymaking across government. Then there is the National Economic Council, a west wing policy shop. Mr Trump has put Gary Cohn, the former number two at Goldman Sachs, in charge of that. Finally, Mr Trump has created the White House National Trade Council, which will help him renegotiate NAFTA and overhaul trade with China. Peter Navarro, an eccentric economics professor, leads that body. He is...Continue reading
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