Trump sours on Cohn for Fed chair, looks at several candidates

Gary Cohn

President Donald Trump is looking at a number of candidates to spearhead the Federal Reserve and has soured on nominating his top economic adviser Gary Cohn to lead the USA central bank, according to sources close to the White House and an administration official.

White House Chief of Staff John Kelly and Director of the White House National Economic Council Gary Cohn chat as they arrive with U.S. President Donald Trump (unseen) at White House after a trip to Springfield, Missouri, in Washington D.C., August 30, 2017.

According to Wednesday's report, Trump cooled on elevating his top economic adviser to the role after the former Goldman Sachs president said he felt "distress" over Trump's response to the racist violence in Charlottesville, Virginia, last month.


In the almost two weeks since Cohn said "the administration can and must do better in consistently and unequivocally condemning" hate groups, Trump has stewed over the comments. Further, the Journal reports that Trump's reasoning for looking elsewhere was "largely" tied to Cohn's reaction to Trump's handling of Charlottesville.

But the president still has a long list of names for the position, including current Fed Chair Janet Yellen. Mr. Cohn is one of the key White House hands tasked with shepherding an overhaul of the federal tax code through Congress. Trump will also have to find a replacement for Stanley Fischer after the Vice Chair of the Fed announced he'd stand down in October.

Cohn was reported to have drafted a letter of resignation because he took umbrage with the President's infamous remark blaming Charlottesville on "both sides".

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