Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
President Donald Trump said Thursday that White House chief economic advisor Gary Cohn's departure from his administration may be temporary.
"This is Gary Cohn's last meeting of the Cabinet. He's been terrific. He may be a globalist, but I still like him," Trump said at the White House. "I have a feeling you'll be back. I don't know if I can put him in the same position though. He's not quite as strong on those tariffs as we want, but that's OK."
Cohn, a former Goldman Sachs president, resigned Tuesday after losing his fight against stiff tariffs on steel and aluminum.
Before Cohn's resignation, some reports speculated that he could become White House chief of staff if Trump decides to fire John Kelly.
Earlier, two titans of Wall Street lamented Cohn's departure.
In similar fashion, Goldman Sachs CEO Lloyd Blankfein expressed his concern Tuesday.
"Gary Cohn deserves credit for serving his country in a first-class way. I'm sure I join many others who are disappointed to see him leave," Blankfein said in a Tweet.