Economy

Trump unlikely to nominate Cohn as Fed chair

Trump unlikely to nominate Cohn as Fed chair”

President Trump is unlikely to nominate National Economic Council Director Gary Cohn to lead the Federal Reserve, according to the Wall Street Journal, after Cohn criticized Trump's response to violence in Charlottesville last month.

The president had previously said he was considering Cohn among other candidates.

The report said that Cohn's chances dropped after he criticized the president's response to the Charlottesville alt-right protests, the report said, quoting people familiar with the president's thinking.

Read The Wall Street Journal's full report here.

Yellen's term as Fed chairman ends in June 2018, giving Trump less than a year to decide whether to renominate her or pick someone else.

The White House didn't immediately return HuffPost's request for comment. In that interview, Cohn said the administration "can and must do better in consistently and unequivocally condemning these groups".

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.

The New York Times reported that he drafted a resignation letter but later changed his mind.



Like this

Latest


07 September 2017
Amazon launches African-American video-on-demand service
Fans of Blaxploitation films will recognize classics such as Foxy Brown , Blacula , Shaft , and many other classics. Amazon Prime members can purchase a Brown Sugar subscription directly for a free seven-day trial.

07 September 2017
Virgil van Dijk returns to training with Southampton's first-team squad
However, the window closed with Van Dijk training alone, yet to feature for Southampton and emitted from the Holland squad for their latest World Cup qualifiers.

07 September 2017
Do Institutional Investors Love Air Products & Chemicals Inc (NYSE:APD)?
The Ontario - Canada-based Ontario Teachers Pension Plan Board has invested 0.06% in Air Products & Chemicals, Inc. Citigroup maintained Air Products & Chemicals, Inc. (NYSE:APD) has accumulated 1.91% over the course of one week.

07 September 2017
Rambo beating the Flu with a Shot
The Fluzone High-Dose flu vaccine has four times the amount of protective antigen for immune systems that tend to weaken with age. Teachers and staff may also receive the flu vaccine (please bring your insurance card) at they school where they work.

07 September 2017
Category 5 Hurricane Irma nears Antigua
Warm water is fuel for hurricanes and Irma was moving over water that was 1.8 degrees (1 degree Celsius) warmer than normal. Virgin Islands and 90 miles (150 kilometers) east of San Juan, Puerto Rico and heading west-northwest at 16 mph (26 kph).

07 September 2017
Stock within Traders Radar:- Newfield Exploration Company (NFX)
Ltd (CHKP)'s stock rose 7.13%. $7.50M worth of Adobe Systems Incorporated (NASDAQ:ADBE) shares were sold by GESCHKE CHARLES M. The fund owned 49,700 shares of the energy company's stock after purchasing an additional 26,300 shares during the quarter.

07 September 2017
White House says Trump will donate $1 million to hurricane aid
At least 38 people have been killed as a result of the devastating floods and that number was climbing as water receded. He says, "I don't think there's going to be a lot of benefits going out to illegal immigrants".

07 September 2017
Gennett homers, Reds pull away to 9-3 win over Brewers
Hamilton, who leads the majors with 58 stolen bases, sent a drive into the left-field seats for his fourth homer of the season. Cincinnati called up RHP Rookie Davis, LHP Amir Garrett, LHP Cody Reed and RHP Jackson Stephenson from Triple-A Louisville.

07 September 2017
Diehard Bargain Hunter: Synergy Pharmaceuticals Inc. (SGYP), Regal Entertainment Group (RGC)
The value of the investment in Synergy Pharmaceuticals, Inc . went from $292,000 to $280,000 decreasing 4.1% quarter over quarter. The sales growth rate for a stock is a measure of how the stock's sales per share (SPS) has grown over a specific period of time.

07 September 2017
Astrazeneca PLC (AZN) Upgraded by Natixis to "Buy"
The company reported $0.87 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.41 by $0.46. Argent Trust Co's holdings in Astrazeneca PLC were worth $356,000 as of its most recent filing with the SEC.



Recommended