October 25, 2017 / 7:03 PM / in a year

Trump unlikely pick Cohn for Fed as crucial to tax reform effort, official says

WASHINGTON, Oct 25 (Reuters) - President Donald Trump is unlikely to pick economic adviser Gary Cohn as his nominee for chairman of the Federal Reserve because he is playing a crucial role in the White House tax reform effort, a senior administration official said on Wednesday.

“No decision has been made and no candidate has been ruled out but Gary’s role is too crucial to getting tax reform done. It might be too important for him to continue to be the lead, for him to announce a change at this time,” the official said.

Trump told Republican senators on Tuesday his focus for a new Fed chair is on Stanford University economist John Taylor, Fed Governor Jerome Powell and current Fed Chair Janet Yellen, a source familiar with the meeting said. (Reporting by Steve Holland; Editing by James Dalgleish)

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