While bookies' odds for Gary Cohn to be the next Fed Chair were already low to minimal, Bloomberg reports that, according to three people familar with the mater, President Donald Trump does not intend to appoint National Economic Council Director Gary Cohn to lead the Federal Reserve. ,
As Bloomberg reports, Trump said in at least one private meeting last week that Cohn has no chance of being Fed chair, according to a person present for the remarks.
Trump has privately told advisers that Cohn is doing a great job in his current role and that he wants to keep him at the White House through congressional consideration of his proposed tax overhaul, according to a person familiar with the conversations.
“No decision has been made and no candidate has been ruled out but Gary’s role is too crucial to getting tax reform done,” a senior administration official familiar with the president’s thinking said. It may be “too important for him to continue to be the lead, for him to announce a change at this time.”
Cohn's odds have been tumbling since Charlottesville…
Leaving Powell the clear favorite..
President Trump, in and interview with Lou Dobbs to air on Fox Business Network, says the Fed search is down to two or three people. When asked about the Fed chair search…
“In one way, I’d have to say, you’d like to make your own mark,” he said, “which is maybe one of the things she’s got a little bit against” Janet Yellen.
“But I think she’s terrific, we had a great talk,” Trump said.
“And we’re obviously doing very well together if you look at the markets”
But the bigger news from the 'people familiar with the matter' is, as Bloomberg reports, Cohn is likely to leave the White House soon after Congress disposes with the tax plan, two people said.
Cohn declined to comment.
via http://ift.tt/2z8kdO0 Tyler Durden