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Cohn Had Drafted His Resignation Letter When He Met Trump Last Week: NYT

Courtesy of ZeroHedge. View original post here.

As discussed earlier, in an unexpectedly harsh response to Trump's Charlottesville comments, Trump’s top economic adviser Gary Cohn said in an FT interview published this morning that the administration needs to be more unequivocal in condemning hate groups, but added he was “reluctant” to quit over its response to a recent protest. '

"I believe this administration can and must do better in consistently and unequivocally condemning these groups and do everything we can to heal the deep divisions that exist in our communities,” Cohn told the FT in his first public comments since the controversy.

Cohn said that as a “patriotic American” he did not want to leave his job as the director of the national economic council. “But I also feel compelled to voice my distress over the events of the last two weeks.” He added that “Citizens standing up for equality and freedom can never be equated with white supremacists, neo-Nazis, and the K.K.K.,” Mr. Cohn said. “I believe this administration can and must do better in consistently and unequivocally condemning these groups and do everything we can to heal the deep divisions that exist in our communities.”

Cohn added, “As a Jewish American, I will not allow neo-Nazis ranting ‘Jews will not replace us’ to cause this Jew to leave his job” and said that Trump’s administration said that the White House “can and must do better” in consistently condemning hate groups. Cohn’s remarks were in stark contrast to a statement from the Treasury secretary, Steven Mnuchin, who defended the president. Mnuchin is also Jewish, and is also a former Goldman employee.

The interview followed press reports that Cohn was on the verge of resigning, although as eventually turned out it wasn't Cohn but rather Steve Bannon who would be pushed out of the White House in a surprise announcement one week ago.

Now, the NYT provides some additional information, reporting that "the sharp critique from Mr. Trump’s top economic adviser, Gary D. Cohn, came nearly two weeks after deadly violence in Charlottesville, Va., in response to a rally led by white nationalist groups. Mr. Cohn, who is Jewish, seriously considered resigning and even drafted a letter of resignation, according to two people familiar with the draft."

As for the the punchline: "Cohn is known to be interested in becoming chairman of the Federal Reserve, and still sees that as a possibility. "

Ultimately Cohn decided against quitting for one simple reason: he knows that come next January, he will replace Yellen as the next Fed chair, handing control over the world's three most important central banks, the Fed, the ECB and the BOE, to Goldman alumni.


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