Gary Cohn has resigned. This was becoming more predictable each day due to his opposition to tariffs. This will leave the tariff crowd in the white house in full control. Apparently, under current law, the president can unilaterally impose tariffs. Congress has the power to stop it. Whether or not they will act on this power will probably depend on how far Trump goes. My feeling is if Trump begins to stretch his power to far congress will act. Either way the market gaped down.
