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Stocks Tumble After WSJ Reports Gary Cohn “Unlikely” To Be Next Fed Chair

Courtesy of ZeroHedge. View original post here.

US Equity futures just opened and tumbled in what seems like a delayed reaction to the Cohn news…

Nasdaq, Dow, and S&P Futs all opened lower…

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As we detailed earlier, just hours after Fed Vice Chair Fischer resigned, and Goldman CEO Lloyd Blankfein threw his support behind Gary Cohn…

“No one’s perfect, but he’s the best I know,” Blankfein said of Cohn, his former No. 2 at Goldman Sachs, during a talk with journalists on Wednesday at the bank’s headquarters in New York.

“He’d be a different kind of person” than Fed Chair Yellen, Blankfein added.

“He’s not an academic. I don’t know that he reads a lot of policy papers, let alone write them.”

A @WSJ scoop crossing now: Trump unlikely to nominate Cohn as Fed chair; his chances dropped after he criticized Trump on Charlottesville.

— Nate Becker (@natebecker) September 6, 2017

As The Wall Street Journal reports, this shift inside the Oval Office was largely due to Mr. Cohn’s reaction to Mr. Trump’s response to the violence in Charlottesville, Va., in which the president at times blamed both white supremacists opposing the removal of a Confederate war statue and counterprotesters.

According to PredictIt, Cohn's odds just crashed…

Interestingly there is some reaction in stocks, as some wonder what Cohn is sticking around for now… (especially after being called out as a "globalist" by Trump)


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