Cohn at Fed would give Goldman excessive power

A report came out Tuesday from a banking analyst suggesting the Gary Cohn, the president’s chief economic adviser would more than likely replace Fed chief Janet Yellen.

Should this move happens it would give Goldman Sachs the top two economic and monetary positions in the Trump administration. Cohn heading the Fed would join Treasury’s head Steve Mnuchin.

So much for draining the swamp. If you add senior counselor Steve Bannon you have a hat trick for the white shoe firm.

In October  2010, Yellen  began a 14-year term as a member of the Federal Reserve Board that will expire in January 2024. However the position serves at the president’s pleasure, so Trump can replace her at anytime.

 

 

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