Billionaire hedge fund manager Ray Dalio said it would be “terrible” if chief economic adviser Gary Cohn left the Trump administration.
“I think it would be terrible if Gary left,” Dalio told an audience of Wall Street money managers at the Delivering Alpha conference on Tuesday, September 12. “It would be bad for the market.”
Dalio is the founder of $US160 billion Bridgewater Associates, the world’s largest hedge fund.
If Cohn left, Dalio added, it would stall economic progress and would represent a challenge in putting together an administration
Dalio also said that Cohn is a capable of being Fed chairman. Reports have suggested that Cohn might now be out of the running for the position.
“Gary Cohn is a very capable man who also has as his greatest strength of being able to know who else to speak to,” he said.
Dalio described Cohn as someone who is open-minded, with an “ability to draw on the best thinking.”
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.