Why Gary Cohn Could Spark Stock Market Panic If He Quits Trump Cabinet
Gary Cohn Image by Getty Images
President Trump’s comments on Charlottesville were said to have left Gary Cohn in high dudgeon, with speculation running rampant that the economic adviser could resign from his administration post. That prospect apparently worries the markets, according to some high financiers.
Cohn is “the security blanket for Wall Street… the alpha adult in the room,” said one person in the know, talking to the Axios newsletter on background. The insider added, talking about recent jitters on the stock exchange: “There’s this fear that if he leaves, there’ll be a domino effect.”
The Axios report linked sharp fluctuations on the stock market Thursday to differing news accounts and speculation about whether Cohn would remain within the administration. Cohn was before his stint at the White House the chief operating officer of Goldman Sachs, the key deputy to chief executive Lloyd Blankfein.
Cohn entered the administration with the ostensible goal of pushing tax and regulatory reform friendly to business and high finance, but the White House’s main legislative priorities – including an overhaul – of the tax code has so far eluded it.
Contact Daniel J. Solomon at [email protected] or on Twitter @DanielJSolomon
The Forward is free to read, but it isn’t free to produce
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward.
Now more than ever, American Jews need independent news they can trust, with reporting driven by truth, not ideology. We serve you, not any ideological agenda.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse.
This is a great time to support independent Jewish journalism you rely on. Make a gift today!
— Rachel Fishman Feddersen, Publisher and CEO
Support our mission to tell the Jewish story fully and fairly.
Dive In
-
Fast Forward Deborah Lipstadt says Trump’s campus antisemitism crackdown has ‘gone way too far’
-
Fast Forward 5 Jewish senators accuse Trump of using antisemitism as ‘guise’ to attack universities
-
Fast Forward Jewish Democratic Rep. Jan Schakowsky reportedly to retire after 26 years in office
-
Fast Forward In NYC, Itamar Ben-Gvir says he’s changed — and wants ‘the Trump plan’ in Gaza
Most Popular
- 1
Opinion The dangerous Nazi legend behind Trump’s ruthless grab for power
- 2
Opinion A Holocaust perpetrator was just celebrated on US soil. I think I know why no one objected.
- 3
Culture Did this Jewish literary titan have the right idea about Harry Potter and J.K. Rowling after all?
- 4
Opinion I first met Netanyahu in 1988. Here’s how he became the most destructive leader in Israel’s history.
In Case You Missed It
-
Fast Forward Deborah Lipstadt says Trump’s campus antisemitism crackdown has ‘gone way too far’
-
Fast Forward 5 Jewish senators accuse Trump of using antisemitism as ‘guise’ to attack universities
-
Fast Forward Jewish Democratic Rep. Jan Schakowsky reportedly to retire after 26 years in office
-
Culture In Germany, a Jewish family is reunited with a treasured family object — but also a sense of exile
-
Shop the Forward Store
100% of profits support our journalism
Republish This Story
Please read before republishing
We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines.
You must comply with the following:
- Credit the Forward
- Retain our pixel
- Preserve our canonical link in Google search
- Add a noindex tag in Google search
See our full guidelines for more information, and this guide for detail about canonical URLs.
To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.