Trump implored to fire 3 White House staffers
- Author: Ronnie Bowen Aug 19, 2017,
Aug 19, 2017, 7:20
Wall Street is among the groups of people asking Cohn to distance himself from the current administration by resigning. Gary Cohn is widely regarded as one of the best hopes for making the pro-growth policies initially promised by the Trump administration a reality.
The dollar dropped to a four-month low against the yen in early trading but retraced some of its losses after rumors began to swirl about the impending firing of White House senior adviser Steve Bannon.
"With President Trump's support from both within and outside of the White House waning, the uncertain USA political environment is likely to keep the dollar pinned down at these low levels", said strategist Viraj Patel of ING in London.
Investors fled into German and U.S. Treasury bonds and bought gold for the third day in a row, as U.S. policy uncertainty and fears of more attacks boosted the appeal of such top-notch assets.
White House spokeswoman Sarah Huckabee Sanders confirmed that Friday would be Bannon's last day. "We're still fighting. There's Treasury and [National Economic Council chair] Gary Cohn and Goldman Sachs lobbying".
During the furor over Trump's comments this week, Cohn's aides huddled on ways to implement the White House's agenda on tax cuts and other changes while he golfed Wednesday with Office of Management and Budget Director Mick Mulvaney.
Defensive star Wilfork announces retirement in Twitter ad
A first-round draft pick in 2004, Wilfork won two Super Bowls and appeared in five Pro Bowls as a member of the Patriots. Wilfork finished his career with 559 tackles, 26 passes defensed, 16 sacks, four forced fumbles and three interceptions.
"The concern would be if Gary Cohn would decide that if he needs to take a safe step that a lot of CEOs did, it will be very hard to move forward with pro-growth tax reforms", said Art Hogan, chief market strategist at Wunderlich Securities in NY.
The Senate majority leader, Mitch McConnell, issued a statement that did not mention Trump by name but said "messages of hate and bigotry" from white supremacists, the Ku Klux Klan and neo-Nazi groups should not be welcome anywhere in the United States.
On Thursday, a quickly deleted tweet, later refuted by several journalists and White House sources, suggested that Cohn had chose to resign his position.
TOKYO: Asian stocks edged higher on Thursday as tensions between the United States and North Korea came off the boil, while the Federal Reserve's concerns about weak USA inflation weighed on the U.S. dollar. "Our sense from client conversations is that his departure would surely dampen Wall Street's already dwindling confidence in Washington's capacity to govern".
A White House official later said Cohn intends to remain in his position, but after a short respite, the market resumed the sell-off, with investors appearing to be losing faith in the administration's ability to move forward on its agenda.