Trump Reportedly Won't Pick Gary Cohn As Fed Chair

Cohn out as possible Fed chairman - WSJ

President Donald Trump is unlikely to nominate his economic adviser Gary Cohn to become Federal Reserve chairman, the Wall Street Journal reported Wednesday. He has an opportunity to shape the Fed - last week, Vice Chair Stanley Fischer announced he was stepping down, making the fourth upcoming vacancy on the Fed's seven-member board of governors.

Another administration official said Trump was "considering several candidates" for the Fed.

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"This administration can and must do better in consistently and unequivocally condemning these groups and do everything we can to heal the deep divisions that exist in our communities", Cohn, who is Jewish, said afterwards.

Trump was criticized for blaming "many sides" for the violent rallies in Charlottesville, and Cohn stood next to him during a news conference days after the rally when the president made a statement saying there "very fine people" on both sides of the rally, which was attended by white supremacists and neo-Nazis. Mr Trump had mused about backing Mr Cohn. That move, according to CNBC, indicates that Yellen may also be ready to leave when her term expires next year.

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"He's not getting it. Trump wants to fire him", said one source with close ties to the White House who spoke on condition of anonymity.

An unnamed White House official told the Journal that Cohn might be able to patch up his relationship with Trump if he successfully shepherds an an overhaul of the federal tax code through Congress.

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As a member of the "Big Six", Cohn is one of two administration officials representing the administration in tax reform deliberations with congressional GOP leaders. Privately Cohn has told associates he was disgusted with the president's remarks.

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