No sh!t Sherlock

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Gary Cohn: President Trump shouldn't comment on independent agencies like the Fed

As the latest former official to speak about Trump's verbal barrage against the central bank, Gary Cohn said the president's job is to appoint the officials who make policy and then let them do their jobs.

"The Fed is doing their job as an independent agency," Cohn told CNBC's Steve Liesman during a "Halftime Report" interview.

Asked if Trump should be critiquing the Fed, Cohn replied, "I don't think he should make comments on any independent agency."

Cohn is the former director of the National Economic Council and president and chief operating officer at Goldman Sachs. He left the administration in April after several disputes with Trump, including the president's handling of racial unrest in Charlottesville, Virginia, and the tariffs the administration has enacted on imports from China and elsewhere.

On the Fed issue, Cohn expressed general agreement with the path that the central bank is taking. That's in contrast to Trump's position, which is that the Fed's steady stream of interest rate hikes poses the biggest danger to the economic boom happening under his watch.

"If you look at what's actually going on in the economy, when you look at the real numbers, we're way exceeding on growth, we're way exceeding on employment, and the Fed is basically on target," Cohn said. "It seems to be like the Fed's in a methodical rate-raising environment, exactly what they're supposed to do."

Trump...inept...incompetent...unfit.
 
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