Trump falls out with frontrunner for US Fed chairmanship


President Donald Trump is considering many candidates to head up the Federal Reserve and has soured on nominating his top economic adviser Gary Cohn to lead the USA central bank, according to sources close to the White House and an administration official.

Cohn remains "focused on his responsibilities ... including a once-in-a-lifetime opportunity to deliver meaningful tax reform that creates jobs and grows the economy, '"a White House spokesperson said".

Donald Trump has fallen out with the frontrunner to replace Janet Yellen as chair of the US Federal Reserve if she does not remain for a second term. Another administration official said Mr Trump was "considering several candidates" for the Fed.

"I think there is blame on both sides", Trump said at a news conference last month, essentially making a moral equivalence between neo-Nazi groups and counterprotesters.

The cause of Cohn's fall was his reaction to the president's comments about violence in Charlottesville, Va.

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Mr Trump has said he would consider reappointing Ms Yellen, who was nominated to lead the Fed by former president Barack Obama.

Sources close to the White House have signaled in the last week that Cohn appears unlikely to be removed due to his critical role on tax reform and Trump has been warned against ousting Cohn for that same reason.

As a member of the "Big Six", Cohn is one of two administration officials representing the administration in tax reform deliberations with congressional GOP leaders.

The White House has shot down rumors Cohn would leave over Trump's remarks, and Wall Street panicked when his Cohn's departure seemed inevitable.