White House Rumors: Why a Gary Cohn Resignation Is Worrying Everyone

Experts say his resignation would cause the markets to crash

By Karl Utermohlen, InvestorPlace Writer


White House economic adviser Gary Cohn could be resigning, according to rumors from the District of Columbia.

Gary Cohn
Source: Flickr

Such a move is cause for concern to many as Cohn’s role is considered to be crucial in helping the country go through tax reform. Yale School of Management’s Jeffrey Sonnenfeld believes that the economic adviser’s resignation would cause the markets to crash.

The rumors come over the fact that Cohn was “upset” and “disgusted” by President Trump’s response to the white nationalist rally in Virginia that resulted in one death and many injures. The White House economic adviser is Jewish.

Several members of the POTUS’ advisory councils have resigned since the fiasco, causing some of these councils to dissolve entirely. Wall Street is among the groups of people asking Cohn to distance himself from the current administration by resigning.

“Gary intends to remain in his position as NEC Director at the White House,” a White House official told CNBC on Thursday. “Nothing’s changed… Reports to the contrary are false.”

The opinions contained in this column are solely those of the writer.
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