Gary Cohn, President Donald Trump’s top economic adviser, was in the running to become the next chairman of the Federal Reserve. But Cohn’s chances of succeeding Federal Reserve Chair Janet Yellen diminished when he criticized the President’s failure to condemn white nationalists in the wake of the Charlottesville attack, according to a Wall Street Journal report out Wednesday night citing unnamed people familiar with the manner.
Reuters also reported Wednesday night that Trump has “soured” on naming Cohn the next Federal Reserve chairman and that he remains upset with Cohn.
Trump told the Wall Street Journal in July that Cohn was one of the top contenders to be the next Fed chair, saying he has “gained great respect” for Cohn. But Cohn has since fallen out of Trump’s good graces.
When Trump first blamed “both sides” for the violence in Charlottesville at a “Unite the Right” rally attended by white nationalists, Cohn stood silent. But he later admitted to the Financial Times that he was deeply troubled by Trump’s remarks.
“Citizens standing up for equality and freedom can never be equated with white supremacists, neo-Nazis, and the KKK. I believe 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 told the Financial Times.
Trump was blindsided by Cohn’s comments, per the Wall Street Journal, and the President grew irritated with Cohn.
