Posted on 07/12/2017 6:07:57 AM PDT by DoodleDawg
National Economic Council director and President Donald Trump's top economic advisor, Gary Cohn, is the leading candidate to take over the top job at the Federal Reserve, according to a report from Politico.
Politico's Ben White and Victoria Guida said Tuesday that if Cohn wants the job currently occupied by Chair Janet Yellen, it's his to take, according to four sources close to the replacement search.
Cohn had been reportedly leading up the search for someone to take over for Yellen when her term expires in February 2018. Reports also suggested that Cohn may be interested in the job.
(Excerpt) Read more at businessinsider.com ...
Goldman Sachs is the private arm of Fed. They know what the Fed is going to do before the Fed. The only thing the Fed does is whip saw the economy, destroy the value of the dollar, prop up stocks, and help the insiders get richer by bailing them out and screwing the taxpaying public.
We need an honest independent cynic running the Fed that has no ties to Harvard and no cronies in the banking sector.
My one concern is what might be Cohn’s thinking about derivatives. At the minimum they can help “spread the risk”, but unleashed and expressed to unlimited degrees and into uncharted breadth and depth they become a virus waiting for the next financial down-blip to become a major illness.
agree
While Yellen is an academic and arrogant know nothing idiot, Cohn is a swing of the pendulum too far in the other direction, the direction of arrogant Wall Streeters who never saw a derivative they didn’t like, even after those derivatives helped turn the downside of the bursting U.S. housing bubble into an international financial crisis. Derivatives were the grease that spun out the effects of the housing bubble into a truly deep shit pile of excessive risk too many institutions were infected with.
Awful pick!!!
Good choice, better suited to technical dweebism monetary policy than economic advisor, who needs to be a gung ho Trumper.
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