Trump rules out Gary Cohn for Federal Reserve chairman: report

President Trump won’t nominate National Economic Council Director Gary Cohn as the next chairman of the Federal Reserve, Bloomberg reported on Wednesday.

A source told the news outlet that Trump wants to keep Cohn at the White House to help get tax reform through Congress.

Cohn is expected to leave the White House at the conclusion of the tax reform push, two sources added.


Trump said Monday that he was “very, very close” to choosing a nominee to replace Janet Yellen, whose term expires in February, but he did not elaborate on his timeline or discuss potential candidates.

He has previously said he intends to announce his decision prior to departing for a 12-day trip to Asia on Nov. 3.

In an interview set to air Wednesday night, Fox Business Network's Lou Dobbs tells Trump that he thinks Yellen might be worth keeping.

“She was very impressive. I like her a lot,” Trump said in a preview of the interview. “In one way, I have to say you like to make your own mark, which is maybe one of the things she’s got a little bit against her, but I think she’s terrific.”

The president polled GOP senators on their preferred Fed candidates on Tuesday.