US: Jim Mattis’ resignation from the White House does not bode well for 2019 – ABN AMRO

According to Han de Jong, chief economist at ABN AMRO, the most recent resignation of Jim Mattis, the US Defense Secretary who does not agree with president Trump on foreign and defence policies is not a good news for the US economy.

Key Quotes

“Mattis was seen as a calming, or restraining influence on the president. With him gone in a few months’ time one must fear that policy will only become more aggressive and erratic.”

“I think the same happened after Gary Cohn (Trump’s main economic advisor as Director of the National Economic Council) left in April this year. Cohn was uncomfortable with the protectionist agenda of the President. It is most likely not a coincidence that the trade conflict with China has escalated after Cohn left.”