Showing posts with label GARY COHN. Show all posts
Showing posts with label GARY COHN. Show all posts

Wednesday, 14 March 2018

Donald Trump moves closer to presidency of one with Tillerson firing

Donald Trump Grump

In accepting the Republican nomination for president in 2016, Donald Trump described a nation plagued with problems and declared: “I alone can fix it.”
Now, as he fires top aides who were a moderating force and replaces them with loyalists who share his world view and won’t object to his most controversial impulses, his administration is fast becoming a presidency of one.

That accelerated with the ouster of Secretary of State Rex Tillerson on Tuesday and last week’s resignation of White House economic adviser Gary Cohn. The moves make clear that Trump has lost interest in hearing dissenting voices and are likely to fundamentally shift American diplomacy and economic strategy.

More departures may come soon
“Because he’s had all these different voices around him that have all these different ideas, it ended up being just a grand experiment,” said Harry Kazianis, director of defense studies at the Center for the National Interest. “I think the president realizes the experiment has failed and it’s time to push forward in the direction that he’s always wanted.”

Saturday, 28 October 2017

Donald Trump may name Jerome Powell as next Fed Chair: Bloomberg

Federal Reserve Governor Jerome Powell

US President Donald Trump is leaning toward nominating Federal Reserve Governor Jerome Powell as the next leader of the central bank, Bloomberg News reported on Friday.

Citing three people familiar with the matter, Xinhua reported that the decision isn't final and Trump could change his mind at any time.

Trump has recently finished interviews of five candidates for the next Fed Chair, including Powell, Stanford University economist John Taylor, former Fed governor Kevin Warsh, White House National Economic Council Director Gary Cohn and current Fed Chair Janet Yellen, whose term expires next February.

Trump said on Monday that he was "very, very close" to making a decision on who is going to lead the central bank.

Trump's advisors have been steering him toward choosing either Powell or Taylor for the job. Powell is favoured by Treasury Secretary Steven Mnuchin, while Taylor is favoured by Vice President Mike Pence.

While Powell and Taylor are both Republicans, they would have much different approaches to running monetary policy at the central bank.