by Ruby Henley
The AP is reporting as of now: WASHINGTON (AP) — The White House says reports that President Donald Trump’s chief economic adviser is stepping down are “100 percent false.”
The rumor is spreading that Gary Cohn, President Trump’s chief economic adviser is resigning, due to conflict concerning the Charlottesville tragedy.
However, the AP says it is not true.
BUT there is speculation that President Trump has floated the possibility of nominating Cohn to chair the Federal Reserve.
There is even an article in VANITY FAIR that speculates that is Cohn’s goal, and it has been his Plan B from the beginning of the crisis within the Trump Administration.
Of course, things aren’t likely to get better for Cohn. He can’t go back to Goldman, and quitting this early probably doesn’t appeal to him. But there may be a Plan B for Cohn: becoming the chairman of the Federal Reserve. According to Axios, Cohn, whose name is being circulated as a possible replacement for current chief of staff Reince Priebus, “would love to be named . . . chair of the Federal Reserve.” The job, which is technically not available until February 2018, when Janet Yellen’s term ends—though Trump, who trashed Yellen on the campaign trail could easily wake up one morning and decide to fire her before then—would not only be a hugely influential position, but, and we’re just throwing this out there without having any idea how Cohn feels—allow him put some space between himself and the slow (fast?) moving car wreck that is Team Trump.
I do not like the last line in this article, because I do not agree President Trump is a car wreck. There are more articles speculating on the future of Cohn.
QUOTE: Since when do underlings get to chime in on who their next boss should be?
That’s just what William Dudley, president of the Federal Reserve Bank of New York, did in an interview with the Associated Press this week.
His fairly strong recommendation of Gary Cohn, Donald Trump’s economic advisor and apparent favorite, was especially egregious since Cohn is former president at Goldman Sachs, where Dudley essentially spent most of his career as chief economist and partner.
The Fed’s chairperson is appointed by the president of the United States. Dudley should stick to monetary policy and regulating big banks. As a matter of central bank independence and integrity, he has no business opining on future candidates.
END OF QUOTE.
QUOTE: President Donald Trump has signaled there’s a strong chance he will name Gary Cohn to head the Federal Reserve.
END OF QUOTE.
QUOTE: Still, confirming market suspicions and Washington chatter, Trump said he is thinking about replacing Yellen with Cohn, who is currently head of Trump’s National Economic Council.
“He doesn’t know this, but yes he is,” being considered, Trump said. “I actually think he likes what he’s doing right now.”
Yellen’s term as Fed chair expires in February of 2018. She could choose to remain as a governor if she is not reappointed to the central bank’s helm but that is not widely seen as a likely possibility.
Trump said he is considering “two or three” other candidates for the post, adding he probably wouldn’t announce a nominee until the end of the year.
“It’s early to make the decision,” he said.
END OF QUOTE.
White House dismisses ‘false’ reports about Gary Cohn’s future
37 Mins Ago
CNBC’s Eamon Javers reports the latest statements from the White House about Gary Cohn’s future.
QUOTE: Trump’s top economic adviser Gary Cohn is STAYING says White House after fears he will quit over Charlottesville send shares plunging
Wall Street saw share prices dip rapidly on Thursday after speculation that Gary Cohn, Trump’s top economic aide, would quit
Cohn looked uncomfortable during Trump’s extraordinary Tuesday press conference and was then publicly attacked by Steve Bannon on Wednesday
Now White House official tells Reuters: ‘Gary intends to remain in his position as NEC [National Economic Council] director at the White House.’
Wall Street executive says Cohn is seen as moderating influence on Trump – and one of few links to big business after CEOs resgined from policy groups
‘Gary is focused on his responsibilities,’ the White House official said, declining to comment on whether the president and Cohn had spoken about Cohn’s reaction to what happened this week.
Cohn’s decision to remain comes amid mounting speculation that some top officials may be looking for an exit strategy in the wake of growing backlash to Trump’s response to Saturday’s violence in Charlottesville.
Winning streak ends: Charlottesville and its aftermath prompted a sell-off on the markets Thursday with the White House saying Gary Cohn was staying in an attempt to calm the plunge.
Read more: www.dailymail.co.uk/news/article-4800116/Trump-adviser-Cohn-remain-talk-swirls-White-House-departures.html#ixzz4q2JAb7HU
by Ruby Henley