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| Larry Kudlow is a well-known conservative commentator |
Mr Kudlow will lead the National Economic Council after Gary Cohn quit last week. Mr Cohn resigned after disagreeing with Mr Trump about his plan for tariffs on metal imports.
Mr Kudlow, a former Bear Stearns investment banker, is currently a pundit on business news channel CNBC.
"Larry Kudlow was offered, and accepted, the position of Assistant to the President for Economic Policy and Director of the National Economic Council," White House spokeswoman Sarah Sanders said.
"We will work to have an orderly transition and will keep everyone posted on the timing of him officially assuming the role."
Mr Kudlow confirmed the news to Reuters news agency earlier. He was an early supporter of Mr Trump, and is a well-known conservative voice.
