President Donald Trump’s chief economic advisor, Gary Cohn, is likely to be the next member of the president’s staff to get booted from the White House — a move that could send financial markets spiraling.
Sources claim that Cohn might be pressured to leave the White House as his relationship with President Trump has rapidly deteriorated, Reuters reports:
"The calculus has shifted for Gary. He's gone, essentially, from untouchable to possibly being bounced out,” the source said. “The message is clear that suddenly Cohn's job in the White House has real downside risk.”
One of the primary factors in Cohn’s downfall might be an interview with the Financial Times following the violence in Charlottesville in which he criticized the president's response by saying the administration “must do better.”
Another source told Reuters that President Trump “hates" Cohn and wanted to fire him following the remarks.
Yale School of Management’s Jeffrey Sonnenfeld believes that if Cohn resigns or is fired from the White House, it could cause financial markets to crash. "I don't want to be an alarmist, but there is a lot of faith that he is going to help carry through the tax reform that people are looking for,” Sonnenfeld said. “I think if he steps away, it would crash the markets.”
In a recent interview with CNBC, Cohn said his relationship with the president was “great,” but dodged when asked if the president refers to him as a “globalist.”
Business Insider profiled Cohn in 2015, saying he “actually has an incredibly inspirational backstory.”
The inspirational backstory? He admitted to being a liar which landed him a job on Wall Street. Cohn shared a cab with a man who worked at one of the big brokerage firms; the man asked Cohn about his knowledge of the industry.
"I lied to him all the way to the airport,” Cohn said. “When he said, ‘Do you know what an option is?’ I said, ‘Of course I do, I know everything, I can do anything for you.’ Basically by the time we got out of the taxi, I had his number. He said, ‘Call me Monday.’ I called him Monday, flew back to New York Tuesday or Wednesday, had an interview, and started working the next Monday.”
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