Gary Cohn @Gary_D_Cohn Twitter profile

Last Seen Profiles

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Gary Cohn

@Gary_D_Cohn

3 years

Congrats to President-elect @joebiden and Vice President-elect @kamalaharris . I wish them great success in leading our country. With over 145M votes cast, both campaigns should be applauded for getting an unprecedented number of citizens engaged in the democratic process.

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Gary Cohn

@Gary_D_Cohn

4 years

Is it time to start discussing the need for a date when the economy can turn back on? Policymakers have taken bold public health & economic actions to address the #coronavirus , but businesses need clarity. Otherwise they will assume the worst and make decisions to survive.

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Gary Cohn

@Gary_D_Cohn

3 years

We need to make clear that the disconnect between the stock market and small businesses is real. The stock market only reflects the performance of the largest businesses, who increase their market share every time another small business closes.

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Gary Cohn

@Gary_D_Cohn

1 year

This is not 2008. Then every bank had a similar portfolio - mortgages - and home prices were falling. SVB has a very unique balance sheet. And unlike 2008, banks today are very highly capitalized and operate with significant regulations. The SVB matter is a classic run on a bank.

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Gary Cohn

@Gary_D_Cohn

4 years

The stock market continues to reflect big businesses increasing their market share during #COVID19 . If a small business closes, a larger business fills the void. We need to contemplate what this means for Main Street USA going forward. Is this really the future we want?

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Gary Cohn

@Gary_D_Cohn

3 years

While the #ParisAgreement may be far from perfect, it is the best available option to tackle one of the greatest issues of our time. I am happy to see the U.S. reentering this agreement and asserting global leadership.

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Gary Cohn

@Gary_D_Cohn

3 years

We added over 379k jobs in Feb. 465k private sector jobs. The economy is showing recovery — consumers are returning. 10-year rates over 1.6%. The risk now is misdirected stimulus.

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Gary Cohn

@Gary_D_Cohn

3 years

I am honored to be joining @IBM as Vice Chairman. IBM is one the world’s most important companies, providing technology that helps organizations be agile and resilient in unpredictable times.

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Gary Cohn

@Gary_D_Cohn

4 years

My advice to policymakers in Washington? You can’t overreact to this situation. You must make decisions quickly & throw as much $ as you can at the situation. If you make mistake of throwing too much $ in a public health crisis, that's a good problem to have. #CNBCPathForward

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Gary Cohn

@Gary_D_Cohn

4 years

I really want to be optimistic. We all obsess on the equity market, but we need to get the municipal and credit markets fixed before we can recover.

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Gary Cohn

@Gary_D_Cohn

4 years

1/ Lots of talk about potential fiscal stimulus packages that unfortunately seem more political than productive. Govt must spend on COVID-19 containment & prevention. Additional fiscal stimulus doesn’t make sense unless it’s going to help those economically hurt by #coronavirus

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Gary Cohn

@Gary_D_Cohn

3 years

Today's vaccine news is incredibly promising, but it's a long-term solution that will take time to implement. Workers & businesses who were suffering yesterday are still suffering today. Congress needs to act now & provide stimulus to help workers & businesses in the short-term.

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Gary Cohn

@Gary_D_Cohn

4 years

The 2017 tax bill jump-started the economy 2 years ago, creating millions of jobs. We continue to see real wage growth for the lowest-paid workers & the best unemployment rate in 50 years. Former CEA Chair Kevin Hassett & I share the hard data in the WSJ.

Opinion | Tax Reform Has Delivered for Workers

Two years later the data show that investment has increased, with wages and job participation rising.

www.wsj.com

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Gary Cohn

@Gary_D_Cohn

4 years

THREAD: Looks like WH & Congress are properly considering #COVID19 impact on small businesses. They have 2 major costs: staffing & real estate. W/ consumers needing to stay home & little or no revenue coming in, paying employees & property bills quickly becomes unsustainable.

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Gary Cohn

@Gary_D_Cohn

4 years

What’s needed from Congress isn’t complicated: Funding for testing, schools and states. Liability protection so small biz can open responsibly. No Payroll tax cut and replace extra $600 UI with benefits set at a percent of pre-COVID earnings. Not that hard. Let’s get it done.

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Gary Cohn

@Gary_D_Cohn

3 years

Ahh, Infrastructure Week. What could possibly go wrong?

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Gary Cohn

@Gary_D_Cohn

4 years

As weather gets colder in much of the country, the lifeline of outdoor operations for restaurants and other small businesses gets harder. They need additional federal support now. This isn't a matter of politics, this is a matter of protecting our economy as we know it.

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Gary Cohn

@Gary_D_Cohn

4 years

5/ We should be focusing #coronavirus economic support on gig workers & ppl in the service industry–cinemas, airlines, taxis–that aren’t getting paid or who have lost jobs, & to those who can’t work because they are sick, quarantined or home w/ their kids due to school closures.

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Gary Cohn

@Gary_D_Cohn

3 years

Janet Yellen is an excellent choice for Treasury Secretary. Having had the opportunity to work with then-Chair Yellen, I have no doubt she will be the steady hand we need to promote an economy that works for everyone, especially during these difficult times. Congratulations.

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Gary Cohn

@Gary_D_Cohn

4 years

"I think there are a lot of #ventilators within the system. We need to appoint one person, and one person only, in the federal government to figure out where all the ventilators are and make sure they’re being shipped expeditiously to where they’re needed." #CNBCPathForward

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Gary Cohn

@Gary_D_Cohn

4 years

With the 8 weeks of #PPP funding starting to run out small, private businesses that cannot operate at anywhere close to 100% capacity are going to need second round of funding.

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Gary Cohn

@Gary_D_Cohn

4 years

THREAD: As we worry about shortages w/ the Paycheck Protection Program for small businesses, we should think about how to guard against companies that are relatively unaffected by the crisis but still qualify. They shouldn’t be taking the money. #CARESAct #CoronavirusUSA

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Gary Cohn

@Gary_D_Cohn

4 years

6/ And we should make sure small businesses have access to financial support to survive the short-term consumer withdrawal from the economy since it is harder for them to weather times like this. #coronavirus

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Gary Cohn

@Gary_D_Cohn

4 years

All sides seem to agree additional stimulus is necessary to support our continued economic recovery. We cannot afford to let politics get in the way of providing relief to small businesses and the American people.

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Gary Cohn

@Gary_D_Cohn

4 years

We can't let our children's primary school education become another victim of this crisis. We owe it to them to consider every possible way to allow them to continue their in-person education safely.

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Gary Cohn

@Gary_D_Cohn

4 years

It shouldn't shock anyone to see economic data - retail sales - coming in lower than expected. It means non-essential businesses closed and people actually sheltered at home. Bottom line: People did what they were asked to do.

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Gary Cohn

@Gary_D_Cohn

4 years

Social distancing until April 30 seems correct based on the public health crisis. From an economic standpoint, the most important issue is that the CARES Act relief money starts getting out this week. Companies can make it to April 30 with real help. #CoronavirusPandemic

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Gary Cohn

@Gary_D_Cohn

4 years

Reopening schools this fall will come with financial challenges. But the dollars-and-cents cost pales in comparison to the cost of the lifelong damage done to families and lives if schools fail to safely reopen. (1/2)

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Gary Cohn

@Gary_D_Cohn

4 years

Closing down economy has unintended consequences we must consider. Suicide, depression, opioid addiction, etc. from people being out of work & confined for too long. Public health must come 1st, 2nd & 3rd, but these are other important parts of the equation. #CNBCPathForward

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Gary Cohn

@Gary_D_Cohn

4 years

Congress needs to prioritize speed over perfection and avoid trying to fix everything in one #COVID19 relief bill. People and small businesses who are struggling can’t wait for the standard process of political brinkmanship to run its course, they need help now.

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Gary Cohn

@Gary_D_Cohn

4 years

4/ Gig workers are the ones really feeling the financial impact right now and in the weeks ahead. They only get paid as they are able to find work. As events get canceled and people go out less, they will certainly struggle. #coronavirus

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Gary Cohn

@Gary_D_Cohn

4 years

3/ Until people feel safe to resume pre-virus behavior, putting money in their pockets won’t stimulate anything. #coronavirus

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Gary Cohn

@Gary_D_Cohn

4 years

THREAD: With 97% of people reportedly under stay-at-home orders, the only things to buy right now are food and other basic essentials. We are not trying to “stimulate” the economy TODAY. That time will come. #coronavirus

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Gary Cohn

@Gary_D_Cohn

4 years

The American people are watching you, Congress. Making income continuation & payments for healthcare costs available is critical and time-sensitive. Pass what you can now! New layoffs every hour. This shouldn’t be a political process.

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Gary Cohn

@Gary_D_Cohn

4 years

3. Landlords should waive rent for small businesses that depend on consumers & be allowed to take 3 months of the loss on their 2019 tax returns. #CoronavirusOutbreak

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Gary Cohn

@Gary_D_Cohn

4 years

Small businesses employ 1/2 of our private sector workforce & are responsible for 2/3 of all net new jobs. They are the core of our economy. As we end #SmallBusinessWeek , let's recognize our small biz owners and recommit to supporting their businesses in all our communities.

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Gary Cohn

@Gary_D_Cohn

4 years

#COVID19 lesson: U.S. must inventory critical infrastructure needs & start manufacturing them here & have a domestic stockpile of those. Too many things critical to our existence & wellbeing-e.g. penicillin-we import from other countries we can't always rely on. #CNBCPathForward

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Gary Cohn

@Gary_D_Cohn

4 years

We let big box retailers stay open because they sell essential goods, but they also sell the same nonessential goods that small stores - who were forced to close - normally do. We can't let this run small stores out of business and need to make sure we level the playing field.

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Gary Cohn

@Gary_D_Cohn

4 years

4. Extend a personal rent & mortgage holiday of 3 months for anyone who can’t work b/c of #COVID19 . Again landlords could take the loss on their 2019 tax returns. With interest rates at almost zero, lost revenue for banks facilitating the mortgage holiday would be minimal.

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Gary Cohn

@Gary_D_Cohn

4 years

Any taxpayer money provided to companies that isn't used for employee wages needs to be paid back before senior executives or shareholders get a return on capital. Hear more of my recent interview on @bbcworldservice

Business Daily - What strings should we attach to bailouts? - What strings should we attach to...

Avoiding the mistakes of the past in post-corona government rescues

www.bbc.co.uk

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Gary Cohn

@Gary_D_Cohn

4 years

I know we are in normally quarter-end quiet periods for public companies, but these are not normal times. Companies should give us some disclosure. And management should show leadership and personally buy their own stock. #CoronavirusUSA

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Gary Cohn

@Gary_D_Cohn

4 years

6. Remove all import #tariffs & duties. The primary goal for any govt support right now must be to give consumers as much purchasing power as possible. Let’s not give with one hand and take with the other. #COVID2019

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Gary Cohn

@Gary_D_Cohn

4 years

In case anyone needs a new reason for why small businesses need more support...

CNN Breaking News

@cnnbrk

4 years

Americans filed another 898,000 first-time jobless claims last week on a seasonally-adjusted basis. That's up 53,000 from the prior week.

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Gary Cohn

@Gary_D_Cohn

4 years

2/ A payroll tax holiday would only affect those who are still working or on salary -- and thus getting a paycheck. If they aren’t out spending as they were before #coronavirus , it’s because they’ve made a conscious decision to avoid crowds.

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Gary Cohn

@Gary_D_Cohn

4 years

Millions of Americans can't work b/c of #coronavirus but don't forget those who are still working-and working overtime-in vital industries: healthcare, civil service, grocery & food delivery, & transportation to get ppl to & from work. Let's be sure to acknowledge & support them.

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Gary Cohn

@Gary_D_Cohn

4 years

I'm confused why markets and others are surprised by the size of the weekly jobless claims. Unemployment pays more than going back to work for many. #PPP vs. unemployment is not a fair fight.

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Gary Cohn

@Gary_D_Cohn

4 years

5. No business should be forced to close and no family should be forced out of its home because of the economic distress caused by #coronavirus .

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Gary Cohn

@Gary_D_Cohn

4 years

The 3+ million unemployment claims were expected but are very relevant. Each represents a dire situation. House must pass #Covid funding & get it distributed immediately. Need ppl already terminated back on companies’ books & on payroll so they won't have to stay on unemployment.

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Gary Cohn

@Gary_D_Cohn

4 years

8. Those are just a few relief measures to help spur our recovery when it comes. Imagine a recovery period in which most small businesses have not survived & new businesses must be started. Long-term impact of that scenario would be far more devastating. #CoronavirusOutbreak

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Gary Cohn

@Gary_D_Cohn

4 years

After #COVID19 , people may demand different forms of transportation. If we're talking about an #infrastructure package to help our economy, environment & our ppl, I would pursue high-speed rail for short-haul routes. Ppl may prefer less-densified trains over planes. More below...

Adam Shapiro

@Ajshaps

4 years

Our complete interview with @Gary_D_Cohn Former Director of the United States National Economic Council

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Gary Cohn

@Gary_D_Cohn

4 years

THREAD: Getting the economy started can be incremental by location - not all at once - and driven by local severity of #coronavirus . We should be able to handle incremental economic activity in appropriate locations while not allowing it in other geographies.

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Gary Cohn

@Gary_D_Cohn

4 years

Universities need to make sure they’re thinking creatively enough about how to bring students back to campus in the fall. Empty hotels & convention centers could serve as useful resources to allow students to return while also adhering to proper social distancing.

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Gary Cohn

@Gary_D_Cohn

4 years

7. #IRS should immediately process tax refunds for 2019 when people file. Govt can also advance the 2020 Earned-Income Tax Credit and Child Tax Credit for hourly and freelance workers.

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Gary Cohn

@Gary_D_Cohn

3 years

Teachers are some of our most important economic first responders. As soon as reasonably possible they must be vaccinated. Full classrooms will mean increased economic productivity because they will allow parents to focus on work.

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Gary Cohn

@Gary_D_Cohn

4 years

Safety must be a priority, but does online school mean school for all? Not all students have internet and the ability to learn remotely. Are we inadvertently widening the education/opportunity gap?

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Gary Cohn

@Gary_D_Cohn

3 years

The violence and lawlessness at the Capitol are un-American and must be condemned in the strongest possible terms. Peace must be restored so the orderly transfer of power that is the hallmark of our democracy can continue.

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Gary Cohn

@Gary_D_Cohn

4 years

At the start of this crisis we altered the definition of unemployment benefits to allow people to stay home w/out looking for another job. Now we need to return to the traditional definition of unemployment to help businesses reopen and get people back to work.

Face The Nation

@FaceTheNation

4 years

NEWS: “Payroll tax cuts doesn't help an unemployed person. So I'm not in favor...” @Gary_d_Cohn tells @margbrennan on @facethenation . Calls for transition out of "extraordinary measures" to provide unemployment aid

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Gary Cohn

@Gary_D_Cohn

4 years

Are Harvard & Princeton really asking most students to return to campus, pay near full tuition, room and board only to attend online classes from their dorm room? (1/3)

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Gary Cohn

@Gary_D_Cohn

3 years

There seems to be bipartisan agreement outside of Washington that money is needed for vaccine & distribution and for workers in the travel, leisure, hospitality and entertainment industries. But we need to be careful with handing out money that is not stimulative.

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Gary Cohn

@Gary_D_Cohn

4 years

2. Employers need to continue paying their people even if they aren’t able to work due to #coronavirus . Here are a few relatively low-cost, high-impact things we can do to help small businesses & their employees be in the best position to recover...

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Gary Cohn

@Gary_D_Cohn

4 years

Give landlords ability to take the business loss on '19 taxes-which is stimulative to the economy-rather than waiting 'til next yr. When you file your return, you get a bigger refund. It will cost $ but it puts $ back in pockets of smaller landlords so they can support themselves

Squawk Box

@SquawkCNBC

4 years

Former NEC Director @Gary_D_Cohn discusses his plan for helping business tenants stay in their buildings during the #coronavirus slowdown.

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Gary Cohn

@Gary_D_Cohn

4 years

Looking for a sign of the nation's entrepreneurial spirit? Americans are starting new businesses at the fastest rate in a decade - 3.2 million new businesses started so far this year, compared to 2.7 million at the same point in 2019 (according to govt data).

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Gary Cohn

@Gary_D_Cohn

4 years

While small businesses have been unable to fully reopen, 75% of Americans say they’ve changed shopping habits during #COVID19 . The longer they are closed the more habits change and consumer behavior shifts permanently - support small businesses now.

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Gary Cohn

@Gary_D_Cohn

4 years

Congress lost 4 days getting to a deal. We need to make up time getting $ to American workers. Why not deliver $ to big US payroll processors & let them make payroll? They know # of employees at every small biz. Pay ppl in next few days & sort it out later. #CNBCPathForward

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Gary Cohn

@Gary_D_Cohn

1 year

What does today’s jobs report tell us? After years of Covid subsidies, people are running out of savings and are rejoining the labor force — companies aren’t needing to compete for workers as much. Still 11 million jobs open.

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Gary Cohn

@Gary_D_Cohn

4 years

I’ll be on @FaceTheNation with @margbrennan tomorrow to discuss the economic impact of the #CoronavirusPandemic and the various relief measures aimed at mitigating the fallout. On TV, radio, and streaming online at

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Gary Cohn

@Gary_D_Cohn

4 years

It’s clear that the #COVID19 pandemic has highlighted inequality in America while simultaneously increasing it. A critical part of our national recovery - both economic and in terms of racial justice - will be to focus on education. (1/2)

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Gary Cohn

@Gary_D_Cohn

4 years

The oil market is broken. We worked for decades not to be dependent on foreign oil but that is now at risk. Alternatives also become uneconomical with oil prices this low. The President needs to get involved in the price of oil right now. Watch more here:

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Gary Cohn

@Gary_D_Cohn

4 years

The GDP numbers are what they are and reflect this unprecedented crisis. But we also have to keep in mind that looking at a fast-moving shock to the economy in annualized terms doesn’t necessarily tell us a lot.

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Gary Cohn

@Gary_D_Cohn

3 years

As more cities & states rightfully slow down parts of the economy to ensure public safety, the need for stimulus only increases. There are almost two months before the next Congress will be sworn in, this Congress isn’t finished doing their jobs yet. They must pass stimulus now.

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Gary Cohn

@Gary_D_Cohn

3 years

With @IBM 's history of innovation and transformation, and a focused growth strategy capitalizing on the enormous opportunity in hybrid cloud & AI, this is an exciting time to begin working alongside @ArvindKrishna , the IBM team and IBM's roster of clients.

IBM Appoints Gary D. Cohn As Vice Chairman

IBM (NYSE: IBM) today announced the appointment of Gary D. Cohn as Vice Chairman of IBM and member of the IBM Executive Leadership Team. Mr. Cohn will work in partnership with Mr. Krishna and the...

newsroom.ibm.com

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Gary Cohn

@Gary_D_Cohn

4 years

While the US economy continues to show resilience, we can’t forget that travel, leisure and entertainment employ millions of people and still have no substantial recovery plan. Solving for this will be the difference between 10% and getting back to 3%.

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Gary Cohn

@Gary_D_Cohn

4 years

2/ As a general principle, if it’s determined a business took the loan but didn’t need it, that business should be required to pay it back in full plus 1x penalty. #CARESAct #CoronavirusUSA

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Gary Cohn

@Gary_D_Cohn

4 years

They’ve had three months to consider creative strategies to reopen. Why haven’t they rented out unused hotels to spread out students in single dorms? Or secured event space to turn it into large classrooms? (3/3)

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Gary Cohn

@Gary_D_Cohn

4 years

If you’re a public company that’s going to ask for government money, you should need it to pay your employees and pay your overhead. You clearly are not in a position to buy back stock or do other corporate activities. It should be easy to agree to no #buybacks . #CNBCPathForward

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Gary Cohn

@Gary_D_Cohn

3 years

2020 has been a difficult year for our nation and the world, but there are reasons to be hopeful about 2021. Wishing everyone a happy and safe new year!

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Gary Cohn

@Gary_D_Cohn

4 years

From my conversation with @ErinBurnett : The way to recover our economy is to get people back into the workforce. Every person who goes back to work creates a multiplying effect that allows even more people to reenter the labor force and reengage in the economy.

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Gary Cohn

@Gary_D_Cohn

4 years

The first step is safely opening schools, which also helps many parents get back to work. But the real work begins with investing in and improving our education system and raising standards - particularly in communities of color - to bridge the opportunity gap. (2/2)

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Gary Cohn

@Gary_D_Cohn

4 years

Today’s 6.6 million unemployment claims is a stark reminder that the CARES Act income replacement money must start going out this week as promised. #coronavirus

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Gary Cohn

@Gary_D_Cohn

4 years

This doesn’t make any sense to anyone outside of the school administrations, who clearly don’t need the money. (2/3)

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Gary Cohn

@Gary_D_Cohn

4 years

A 2.25% decline to the healthcare sector (1/5 of economy) has a huge impact. Figuring out the best way to restart the closed parts of our health system will be key to reopening the overall economy.

Justin Wolfers

@JustinWolfers

4 years

This is stunning: Nearly half of the Q1 decline in GDP can be attributed to healthcare, which is presumably delaying of elective procedures. It's a strange reality that in the midst of a pandemic, we have a healthcare-led recession.

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Gary Cohn

@Gary_D_Cohn

3 years

Congratulations to @POTUS Joe Biden and @VP Kamala Harris. The challenges they now face as the leaders of our country are immense, but so is their dedication and commitment to overcoming them. I wish them well in their efforts on behalf of our nation.

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Gary Cohn

@Gary_D_Cohn

3 years

It’s true that any stimulus provided at this point would be later than it should have been, but it’s foolish to think it’s too late for more stimulus. Every day we delay providing this critical support for our economy, the issues we face become increasingly worse.

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Gary Cohn

@Gary_D_Cohn

4 years

We must carefully manage conduct risk as $ goes through the banking system to support #COVID19 needs. Can't allow a health & economic crisis to also become a moral one. Bank misconduct scandals will hurt everyone, we argue in "Further on up the Road"...

Reuters | Breaking International News & Views

Find latest news from every corner of the globe at Reuters.com, your online source for breaking international news coverage.

www.reuters.com

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Gary Cohn

@Gary_D_Cohn

3 years

Unemployment numbers don’t lie - work is hard to find. W/ small businesses closing every day & the service industry virtually closed, all that market share is going to large public companies - seen in record stock prices. The need for stimulus is clear. Why are we still debating?

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Gary Cohn

@Gary_D_Cohn

4 years

3/ Government would need to look at company net income at the end of 2020, and if you end up making more than you did in 2019, you probably didn’t need the loan. Obviously need to have a carveout for early-stage companies/start-ups and other outliers. #CARESAct #CoronavirusUSA

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Gary Cohn

@Gary_D_Cohn

3 years

From my conversation w/ @ErinBurnett : When we first shut down the economy to fight #COVID19 we deemed the largest U.S. businesses essential & gave them 100% market share. The businesses that are being most damaged are those not traded on the stock market - local small businesses.

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Gary Cohn

@Gary_D_Cohn

4 years

Many students will fall behind in their education. Those without adequate internet access, computers and a proper space to study get left behind without classroom learning. Even more kids will lack a safe place for social and physical activity. (2/2)

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Gary Cohn

@Gary_D_Cohn

4 years

Agree @jimcramer . Encouraging to hear that help for hourly workers and service industry, crisis loans for small businesses and using tax refunds to give relief to individuals needing to stay home are all on the table. #COVID2019

Jim Cramer

@jimcramer

4 years

President doing stimulus that we want. This is very good... money to those who did nothing wrong and are going to lose jobs!! Loans for small businesses very good!!!

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Gary Cohn

@Gary_D_Cohn

4 years

Getting people safely back to work is our biggest priority. If enhanced unemployment benefits are stopping people from doing that, I would support a back-to-work bonus that provides people the remaining 2 weeks of those benefits ($1200) even if they reenter the workforce.

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Gary Cohn

@Gary_D_Cohn

4 years

This is about getting money to hard working people tomorrow. Small businesses can’t make payroll. We don’t have time to let people line up at all the banks. Time is of the essence. #CNBCPathForward

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Gary Cohn

@Gary_D_Cohn

4 years

Congress needs to listen to @federalreserve Chairman Powell and take further action to help ensure our economy continues to recover. I absolutely agree now isn't the time to worry about going too far in our response.

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Gary Cohn

@Gary_D_Cohn

4 years

The @federalreserve continues to do what they need to do. Congress has tried to offer some stability. Now the White House must get involved with the oversupply of oil. We need stability there — it is critical to jobs and many states and industries.

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Gary Cohn

@Gary_D_Cohn

4 years

When we talk about jobs, we’re talking about small businesses. We’re talking about restaurants, dry cleaners, hair salons, bakeries, delis, etc. We’re talking about the businesses you see on Main St. USA. They need to be our 1st priority for job creation.

Gary Cohn on best ways to use stimulus money

Gary Cohn on how to help unemployment situation: use federal stimulus money to spend on infrastructure and give people new jobs in new industries.

finance.yahoo.com

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Gary Cohn

@Gary_D_Cohn

3 years

Many important steps have been taken in the first days of the new administration, but executive action will only take the country so far. Our ability to get big things done will be decided by moderates in the Senate. The path forward is down the middle.

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Gary Cohn

@Gary_D_Cohn

4 years

I hope packages coming through Congress allow industry to keep employees on the books & continue to pay them. The @SenatorCollins - @marcorubio plan w/ $300B for small biz is aimed at doing that. Loans will be forgiven if employers continue to pay employees.

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Gary Cohn

@Gary_D_Cohn

4 years

I asked yesterday-& @WSJopinion suggested Friday-if it's time to plan for when/how to normalize economy. Seems @realDonaldTrump & many others now agree. Date must be balanced w/ public health efforts to #slowthespread of #COVID19 . Decision will be difficult but it must be made.

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Gary Cohn

@Gary_D_Cohn

4 years

We’ve always prioritized our national security, but now we need to look at our national resiliency. Our government will need to incentivize domestic production of essentials (certain medical supplies, food, etc.) while continuing to import more non-essential goods.

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Gary Cohn

@Gary_D_Cohn

4 years

We’ve gotten to current unemployment figures in a manner entirely different than the peak unemployment of the Great Depression. Unemployment today precipitated much faster and as a result of intentional actions taken to keep ppl home, not business failures

Cohn: Lockdowns have other healthcare implications

Former Director of the National Economic Council Gary Cohn said life before COVID-19 was not “a riskless environment” and that people and lawmakers will have...

www.youtube.com

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Gary Cohn

@Gary_D_Cohn

4 years

Never underestimate the resiliency of our economy, which is recovering faster than expected. @federalreserve now forecasts 2020 ending w/ 3 million more jobs & $600+ billion more in economic activity than June estimates. Full recovery will be a long road, but we have a good start

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