Skip To Content
Fast Forward

Why Gary Cohn Could Spark Stock Market Panic If He Quits Trump Cabinet

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

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

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 the protests on college campuses.

Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.

Make a gift of any size and become a Forward member today. You’ll support our mission to tell the American Jewish story fully and fairly. 

— Rachel Fishman Feddersen, Publisher and CEO

Join our mission to tell the Jewish story fully and fairly.

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 credit the Forward, retain our pixel and preserve our canonical link 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.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.