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The Memo: Republicans fret over Cohn’s exit | TheHill

posted onMarch 8, 2018
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Article snippet: MORE’s populist supporters are shedding no tears over the departure of Gary Cohn as chief economic adviser, but it is a different story among the broader universe of Republicans. Lawmakers and other experts are worried about the former Goldman Sachs executive’s departure, fearing it removes one of the more seasoned and realistic voices from Trump’s orbit. One veteran of former President George W. Bush’s administration, granted anonymity to speak candidly, said of Cohn: “He’s a forceful personality, and even if he is replaced with a free trader, it may not be a free trader who is comfortable standing up to someone like Trump. It’s hard to find someone with both the physical fortitude and a global perspective. That’s the challenge.” Anxiety is also rising in the business community, according to Jeffrey Sonnenfeld, a professor at the Yale School of Management. “The long and short of it is that Gary Cohn was one of the rare, truly pragmatic non-ideologues that was revered by the business community and had an extraordinarily calming effect on the business community,” Sonnenfeld said. “Relative to much of the team around him, he held his ego very much in check.” The Dow Jones industrial average fell by a modest amount on Wednesday, its first full day of trading after news of Cohn’s resignation broke. Cohn resigned in the end after losing a battle with more populist and nationalist voices — chief among them Peter Navarro, the head of the White House National Trade Counc... Link to the full article to read more

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