29 August, 2017
Gary Cohn, who is Jewish, was so upset by Trump's comments that he wrote a letter of resignation but never submitted it.
In his comments to the FT, Cohn said Trump would launch a major push to overhaul the tax system with a speech in Missouri next week, with the aim of driving the measures through Congress by the end of the year.
Mnuchin also said he and Cohn were focused on remaining in the administration and pushing tax reform forward.
According to two sources at the New York Times, Cohn was reportedly so disturbed by Trump's statements after the Charlottesville protests that he seriously considered quitting his post at the White House.
During the dinner, held at a restaurant called the Frisky Oyster, Cohn said he has to be careful not to give the president too much advance notice about his ideas.
"I am reluctant to leave my post as director of the National Economic Council because I feel a duty to fulfill my commitment to work on behalf of the American people".
Cohn added: "As a Jewish American, I will not allow neo-Nazis ranting "Jews will not replace us" to cause this Jew to leave his job".
Financial markets were rattled last week by rumors that Cohn would resign, and US stocks dropped until the White House put such talk to rest.
Amid fears that Cohn would resign, the USA stock market dropped until the White House denied the rumor.
Cohn, who was with Trump on stage during his Charlottesville remarks, told friends in NY and the White House that he was not going to remain quiet about the comments.
Trump's comments also led to the quick dissolution of two groups of prominent corporate advisers, many of whom felt they could no longer be associated with a president who didn't rapidly and unequivocally condemn neo-Nazis and white supremacists.
Nonetheless, longtime Trump associate Roger Stone said on Twitter that Cohn "should be fired immediately for his public attack on the president". Cohn was standing with three other officials behind Trump in the lobby of Trump Tower in New York City on August 15 when the president made his latter remarks to reporters.
Cohn noted that he has had "numerous" conversations with the President on the topic.
Asked Friday whether Trump was aware of what Cohn said, White House press secretary Sarah Huckabee Sanders answered: "I don't think anyone was surprised about the comments".
Making his first public comments since the president said there were "very fine people" among the demonstrators brandishing Confederate battle flags and swastikas, Cohn said in an interview published Friday that he has faced "enormous pressure" to resign.
Treasury Secretary Steve Mnuchin issued a statement earlier this month condemning the actions of hate groups and voicing support for the President. In the Financial Times interview, he says he has spoken with the president directly about the issue.
He said his decision to stay wasn't influenced by last week's firing of White House Chief Strategist Steve Bannon, with whom Cohn regularly clashed.
There has been widespread speculation that Cohn wants to be the next chair of the Federal Reserve, though he has dismissed the talk publicly.
But Cohn has made his displeasure with Trump clear.
Cohn's chances for the Fed job could be harmed if he were to resign from his current position.
Those same leaders urged Cohn to stay so that a pro-business voice remained in the White House, the Financial Times reported.
