President Donald Trump is considering many candidates to head up the Federal Reserve and has soured on nominating his top economic adviser Gary Cohn to lead the US central bank, according to sources close to the White House and an administration official.
Cohn, the National Economic Council director, was once a top contender for the powerful position, but his public rebuke of Trump's response to the violence at a Charlottesville white supremacist rally last month made him fall out of the President's good graces.
The White House did not immediately respond to CNN's request for comment. Another administration official stated Trump was "considering several candidates" for the Fed.
Federal Reserve Chair Janet Yellen's term expires in February 2018, leaving Trump with an increasingly narrow window to make his pick.
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"Taking Gary Cohn out of the running - he is someone who is respected enormously in the markets - is at least a little bit unsettling", said Chris Low, chief economist of FTN Financial.
An unnamed White House official told the Journal that Cohn might be able to patch up his relationship with Trump if he successfully shepherds an an overhaul of the federal tax code through Congress.
Mr Cohn is one of the main architects of the administration's effort to reform the United States tax code and lower tax rates for individuals and corporations. Privately Cohn has told associates he was disgusted with the president's remarks.
Cohn, who is Jewish, told the Financial Times that the administration must do more to condemn neo-Nazis.