Tags: jim cramer | gary cohn | resignation | stock | market

CNBC's Jim Cramer: Gary Cohn Resignation Will Freak Out the Stock Market

(Mark Lennihan/AP)

Friday, 02 March 2018 01:41 PM

Economic guru Jim Cramer warns savvy investors that a resignation by top White House economic adviser Gary Cohn could push the already volatile stock market over the brink.

"If you want to craft a scenario about [what] could be a tough moment for stocks, it would be if Gary left," Cramer said on "Squawk on the Street." "He is someone who makes you feel that there is not as much chaos," Cramer told CNBC.com.

As long as Cohn remains in the White House, Cramer said, there's a case for investors to invest in several U.S. stocks.

"Gary Cohn did a lot to get through the tax package, Gary Cohn [is a] steady hand," Cramer said.

A resignation by Gary Cohn would be a tough day for the stock market, CNBC's Jim Cramer says.

Cohn "is someone who makes you feel that there is not as much chaos," Cramer says.

Trump's practice of using chaos as a management tool worked well in his business life, but it is taking a toll in the White House, The New York Times reported.

According to the Times, Trump's first 13 months have left White House staff demoralized and policy in disarray — and might next push out his chief economic adviser Gary Cohn.

"I always said that it was going to take awhile for Donald Trump to adjust as president," Newsmax Media chief executive Christopher Ruddy, a longtime friend of Trump told the Times.

In the business world, Trump relied on a small circle of colleagues and a management style that amounted to "trial and error — the strongest survived, the weak died," Ruddy told the Times, insisting Trump is finding his way.

But Cohn might have had enough, the Times reported.

According to the Times, Cohn, warned chief of staff John Kelly he might resign if Trump went ahead with a plan to introduce tariffs of 25 percent on steel and 10 percent on aluminum.

The White House has not even completed a legal review of the measures, the Times reported, and Cohn, a former Goldman Sachs president, had lobbied fiercely against the measures.

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Economic guru Jim Cramer warns savvy investors that a resignation by top White House economic adviser Gary Cohn could push the already volatile stock market over the brink.
jim cramer, gary cohn, resignation, stock, market
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2018-41-02
Friday, 02 March 2018 01:41 PM
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