Trump falls out with frontrunner for US Fed chairmanship

Trump falls out with frontrunner for US Fed chairmanship

According to The Wall Street Journal, Trump was leaning towards nominating Gary Cohn - who now serves as director of the National Economic Council - but soured after Cohn told Financial Times that Trump's response to the violence in Charlottesville wasn't good enough.

"The shift in Mr. Cohn's prospects for the top Fed job arises largely from his criticism of Mr. Trump's response to the violence in Charlottesville, Va., the people familiar with the matter said", according the WSJ.

In past months, Trump had made comments to TheWSJ that Cohn could be a potential replacement for Janet Yellen, the current Federal Reserve chair, whose term ends in February.

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

After a neo-Nazi murdered counter-protestor Heather Hayer by plowing his auto into a crowd of people, Trump condemned violence "on many sides" and noted a few days later there were "very fine people on both sides".

Intel escapes €1.06bn antitrust fine... for the time being
The activity by Intel that was deemed by the Commission to have breached European Union competition law dates back to between 2002 and 2007.

Mr Trump has said he would consider reappointing Ms Yellen, who was nominated to lead the Fed by former president Barack Obama.

The cause of Cohn's fall was his reaction to the president's comments about violence in Charlottesville, Va.

"He's not getting it. Trump wants to fire him", said one source with close ties to the White House who spoke on condition of anonymity. Privately Cohn has told associates he was disgusted with the president's remarks.

Sources close to the White House have signaled in the last week that Cohn appears unlikely to be removed due to his critical role on tax reform and Trump has been warned against ousting Cohn for that same reason.

Cohn, who is Jewish, told the Financial Times that the administration must do more to condemn neo-Nazis.

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