Trump May Dump Pick For Fed Chair Over Charlottesville

Cohn out as possible Fed chairman - WSJ

WSJ: Trump unlikely to pick Cohn to lead the Fed

"The president does not forget", said another source close to Trump, referring to Cohn's criticism. 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.

President Donald Trump is considering many candidates to head up 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.

Cohn, the National Economic Council director, was once a top contender for the powerful position, but his public rebuke of Trump's response to the violence at a Charlottesville white supremacist rally last month made him fall out of the President's good graces.

Read The Wall Street Journal's full report here.

Donald Trump has fallen out with the frontrunner to replace Janet Yellen as chair of the US Federal Reserve if she does not remain for a second term.


Yellen's four-year term ends in February.

A White House official said Cohn remained an essential player in Trump's push for tax reform.

A person close to Trump said that he wasn't expecting Cohn's comments, while another source told TheWSJ that Trump seems annoyed when Cohn's name is mentioned.

According to the Journal, Cohn might have scotched his chance at the Fed job when he told the Financial Times the Trump administration "can and must do better" to condemn hate groups.

Cohn said in his interview with the Financial Times that he came under pressure to resign from the Trump administration.

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