President Donald Trump is unlikely to consider Gary Cohn, his top economic adviser, as the nominee for Federal Reserve chair, The Wall Street Journal reported Wednesday.
ADVERTISEMENT
Trump is reportedly unlikely to consider nominating Gary Cohn as the next Fed chair
Cohn fell out of favor after his public rebuke of Trump's response to Charlottesville, The Wall Street Journal reported.
This is largely because of Cohn's public rebuke of Trump's initial response to
Cohn, who is Jewish, told the Financial Times that the administration must do more to condemn neo-Nazis.
The New York Times reported that he drafted a resignation letter but later changed his mind.
ADVERTISEMENT
Cohn, a former Goldman Sachs banker, has been considered the top contender to lead the Fed when Chair Janet Yellen's term expires in February 2018. Trump said in July that he was considering nominating Yellen to another four-year term. He's also reportedly considering Kevin Warsh, a former Fed governor who's currently a fellow at the Hoover Institution.
Earlier Wednesday, Stanley Fischer, the Fed's vice chairman, announced he would resign by mid-October, creating a fourth vacancy on the Board of Governors.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT