Trump Sours On Gary Cohn After Charlottesville Criticism

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Gary Cohn is unlikely to be chosen by President Trump to replace Janet Yellen as the next head of the Federal Reserve, according to The Wall Street Journal.

The reports come amid the surprise departure of Fed vice-chairman Stanley Fischer, who resigned on Wednesday, adding to the uncertainty about a transition in leadership at the bank. Mr. Cohn is one of the key White House hands tasked with shepherding an overhaul of the federal tax code through Congress.

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

"I think there is blame on both sides", Trump said at a news conference last month, essentially making a moral equivalence between neo-Nazi groups and counterprotesters. Trump said in July that he was considering nominating Yellen to another four-year term.

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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.

Mr Cohn is one of the main architects of the administration's effort to reform the United States tax code and lower tax rates for individuals and corporations.

But the president did not single Cohn out for praise during a tax reform rollout speech last week in Missouri, sparking speculation that their relationship had cooled.

Majority of the potential candidates who are in the mix for Fed chair are hawkish on interest rates, including Warsh, an ex- Wall Street banker who served as a Fed governor at the time of the financial crisis, and Taylor, author of a widely cited but only loosely followed mathematical rule for setting interest rates.

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