Home / News / Weekly Standard / Ex-Trump Official Gary Cohn Warns That Trade War Could Lead to Recession

Ex-Trump Official Gary Cohn Warns That Trade War Could Lead to Recession

Gary Cohn, the former top economic adviser to President Trump, was all smiles Thursday morning when he discussed the 14 months he spent in the White House. “Last year was the best year of my life,” said the former COO of Goldman Sachs, at a Washington Post event. But Cohn, who left his job as director of the National Economic Council in April, also offered some restrained criticism of the administration’s trade policies.
Cohn said a trade war, with countries hitting each other with retaliatory tariffs, could lead to a recession. “If you end up with a tariff battle, you will end up with price inflation. You could end up with more consumer debt. Those are all historic ingredients for an economic slowdown,” he said. “So I would not like to see that happen.”
Asked by Post reporter Damian Paletta if such a trade war could undo the benefits of the tax reform bill Cohn helped craft and pass last year, Cohn responded, “Yes, it could.”
Cohn, castigated b…
read more weeklystandard.comOriginal Article

Check Also

Making Sense of the Strange Case of Debbie Wasserman Schultz’s IT Guy

Allegations of fraud, theft, bigamy, and violence surround Imran Awan.Original Article

Leave a Reply

Your email address will not be published. Required fields are marked *