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Gary Cohn Is Not a Good Choice for Federal Reserve Chair, Barney Frank Warns

Who will be the next Fed Chair? Watch and see why former congressman Barney Frank doesn't think that Gary Cohn is the right choice.

Former Congressman Barney Frank, co-architect of the Dodd-Frank financial reform law, doesn't think President Trump should name Gary Cohn as Federal Reserve Chair.

"Mr. Cohn was a major player in the crisis - not in a constructive way - he was at Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. (GS) Report ," Frank said in an interview with TheStreet.

Cohn was the former chief operating officer of Goldman Sachs before joining the Trump Administration as director of the National Economic Council earlier this year. 

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Media reports recently suggested that Cohn is among the finalists that Trump will pick from when Janet Yellen's term expires. Also on the list are former Fed governor Kevin Warsh, Stanford University economist John Taylor, current Fed Governor Jerome Powell,  and Yellen herself. 

Yellen started her term as Fed Chair in 2014 during the Obama Administration.

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Editors' Pick: Originally published on August 10, 2017.