- REUTERS/Ruben Sprich
President Donald Trump is unlikely to consider Gary Cohn, his top economic adviser, as the nominee for Federal Reserve chair, The Wall Street Journal reported Wednesday.
This is largely because of Cohn’s public rebuke of Trump’s initial response to the deadly white-supremacist riots in Charlottesville last month, the report said.
Cohn, who is Jewish, told the Financial Times that the administration must do more to condemn neo-Nazis.
The New York Times reported that he drafted a resignation letter but later changed his mind.
Cohn, a former Goldman Sachs banker, has been considered the top contender to lead the Fed when Chair Janet Yellen’s term expires in February 2018. Trump said in July that he was considering nominating Yellen to another four-year term.
Earlier Wednesday, Stanley Fischer, the Fed’s vice chairman, announced he would resign by mid-October, creating a fourth vacancy on the Board of Governors.