President Trump has picked our friend and colleague Larry Kudlow as Gary Cohn’s replacement. I’m delighted for Larry, who is a conservative true believer, a real patriot, and one of the most delightful people you will ever meet. Larry and his supply-side colleagues had an outsized influence on the tax cut, the best thing to happen domestically during the Trump administration so far, besides Gorsuch. By all accounts, he has a good rapport with Trump, and we should be glad the president is willing to continue to have a dissenting voice on tariffs in this position. Congrats all around.