take it with you." i'm jamie colby. thanks for watching "strange inheritance." abbott, d and victoria tsing. maria: welcome to the program that analyze the week that was and position you for the week ahead. i'm maria bartiromo. coming up, black stone executive viet chairman tony james my special guest. then we are joined by president trump's newly appointed economic advisor, larry kudlow. gerri willis stand by in the newsroom with the headlines. gerri: another volatile week in washington and wall street. u.s. economy adding 103,000 jobs

in march. unemployment rate remains steady. in addition to the disappointing job growth, revisions to jab and february showed 50,000 fewer jobs created than previously reported. the jobs report along with more trade war fierce erasing -- war fears erasing the gains. the dow and s & p are in firmly negative territory for the year. china will implement a 25% levy on cars, whiskey and soy beans and 100 other products. here is what larry kudlow said to stuart varney. >> there is no trade war. you have the early stages of a process that will include

tariffs, comments on the tariffs, ultimate decisions and gore yaitions. there are back -- decisions and negotiations. there are talks going on. don't overreact. gerri: reversing a 500-point loss in the market after his comments. the president is considering $100 billion additional tariffs to china. mark zuckerberg will be testifying before congress next week. facebook admitting it illegally shared users data with cambridge analytica. maria: 103 jobs created for the month and the unemployment rate

holding steady at 4.6%. larry kudlow predicted strong both for the economy. >> i think it's possible nobody the 3% to 4% zone. the last three quarters we picked up from under 2% to 3.1% at an annual rate. it's a good start. maria: could we get to 5% in the coming couple years? >> we could. we have had such a slow recovery. it's a growth recession. not a real recovery. will we get 5% forever? no. but there is a catch-up here. maria: we bring in a leader and respected voice in the private equity world.

tony james is with the black stone group. and t author of the new book "rescuing retirement." let me ask you about the backdrop. i want to get your take on what thing look like from your standpoint. >> on the employment issue our company is having a hard time hiring people. we have a lot of openings that we can't fill. you have to take that in context. it's easier to put big employment numbers up if you can found the people to take the job. any industry, any part of the country, skilled or unskilled, we are having a hard time hiring. maria: what is your consideration around trade? the policies coming out of this white house is very positive -- very business positive. roll back regulations send

markets soaring. but now the conversation changed because the tariffs. >> the real evening is u.s. and china though nafta is another thing. i don't think the u.s. or china wants a trade war. i think china understands a $375 bideficit is unsustainable and i think they will work with us to solve that problem. it's not very costly to china. i don't think they will be threatened into it because they won't want to look luke they are weak, nor is president trump going to look luke he's weak. if you can defuse the situation and talk i think we'll get out of this without a problem. maria: do you think the public markets are overreacting? >> if we do, it will be good for the economy. we are apartment -- for apt toh

china. maria: people know china put on all these restrictions on foreigners. they know china has been trying to transfer technology from the u.s. to china. this was a good move that the president tried to push back, right? >> yes. it's how it's done. it's a good move and i think he'll make progress. and i think he's very determined to make progress because then he can stand in front of the american people and say look what i did. but there is danger in terms of how it's handled. >> the other issue is spending. x just saw the omnibus, the spending bill at $1.3 trillion that the president signed inthe to law. now we understand the president is working with the majority leader kevin mccarthy to claw

some of that back. they only need 50 votes in the senate to do that and they are working on it. retirement and the entitlements, will that matter if we see the president come out and say we are not going to do all this spending. we are not going to do all of that that we had in the am any bus. >> spending is a drug. there is something for everyone. it's hotter-term benefit. i don't see anyone in washington worrying about the deficit and i don't see voters worry being the deficit. i think it's -- why climb that hill if you don't have to when you are a politician. maria: we are talking about trillion dollar deficits from here on out. >> there are a lot of things we might face at some point but america is good at not worry big it until it happens. maria: i want to talk to you

about the book when we come right back. >> announcer: larry kudlow is wasting no time getting down to business and making headlines. maria's interview that's capping maria's interview that's capping everyone's attention.

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[message notification] tornado? next thursday? seriously? thursday? can't do that. uh-uh. this is really inconvenient. i have yoga that day. i have no time for this. so... i can't do thursday, but i can do friday. [arguing over each other] narrator: disasters don't plan ahead. you can. talk to your loved ones about how you're going to be ready in an emergency. don't wait. communicate. maria: we are back with tony james from blackstone. this is your second book, and it's a scary notion that people don't have anything in saving. how do you rescue retirement? >> we hav a perfect storm.

it used to be private sector had pension plans. almost half of all working americans have no pension plan. the fed did a story that said 47% of americans had to come up with $4. >$400 in an emergency could not do so. young people are leaving school with tens of thousands and maybe hundreds of thousands in student loans and they don't start saving until their 40s. interest rates are so low you can't earn any money. the average 401k only earns 2 person 2%to 4% a year.

social security is down to only 29% of what you need to maintain your lifestyle. at black stone we manage money for 85% of retirees in america. we see the benefits for those who are lucky muff to have a defined benefit plan. i felt like someone should speak out to develop a solution that could be bipartisan. that's the only way to get attention and dialogue about it. maria: let me ask you how you are investing today and where you see opportunities. i know black stone was invested in utilities. >> i think it world is overpriced. energy, the price of oil and gas has come up from the 30s to the 60s. but stock prices of oil

companies and availability of capital has not. maria: in the global story i'm hearing europe europe europe because valuations are looking better in europe than they are here. what's your take on the u.s. versus europe and versus asia. >> it's a big world. let me start with the u.s. people say the u.s. recovery must be in the late innings because we had the second longest in terms of time period recovery since the war. maria: 10 years. >> three more quarters it will be the longest since world war ii. but what people miss about that is if you look -- that's the length of the recovery. if you look at the amount of recovery we are still not up to average for post war recoveries. so if you continue to grow at

2.5 to 3%, it's another two years before you get the average recovery. one could argue this should be above average recovery because the drop was lower. so we view this absent tax reform as having another three years of reare cover are you ahead of us. tax reform adds the stimulus you are talking about which layers in over several years but its another 5%. that could goose the we correspond are you short term. but i think you have got at least two years in the united states. the view of europe is it's got longer to run. the banging system was more troubled. the unemployment rate was 8.5% versus 4% here. germany is maybe different but the other countries have a longer way to run. so there is a lot positives

about europe that has longer to run. i think this is the most of exciting new initiative we have. i think we can almost double the whole sides of the firm in terms of assets under management. the understand industry is $30 trillion asset under management. bigger than 401ks. bigger than institutional pension plans with almost no alternatives. they are in a bit of a perfect storm. they have liability out there and they are not earning any money on their balance sheet and it's tough. so we can solve their problem for them. they are problem solvers. maria: that's great stuff. that could double the size of the firm. this one business alone, understand. tony, it was great to have you on our program.

tony stone, the blackstone group. larry kudlow, the president's chief economic advisor is next. >> announcer: coming up, larry kudlow thick china's trade policies are hurting more than just the u.s. just the u.s. kudlow you be load on

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maria: the market was driven most of of the week by tariffs and trade development. i poke to larry kudlow, the president's cleave economic advisor about where this was going. >> the essential point the president has been working on, you have unfair trading

practices, and many are illegal in wto terms. you know the list. stealing or transferring technology, stealing our intellectual property rights, they have high tariffs, they have barriers, not nearly enough market access for for countries like the u.s.a. all of that stuff has to be discussed, negotiated and eventually changed. there is a process here. there will be some back and forth. but there is also some negotiations. but that's the key point. end of the day. china's unfair and illegal trading actions are damaging to economic growth for the u.s., for china and the rest of the world. they are preventing a' stronger global economy and doing damage to american exports. the president is the first guy with a backbone in decade to go after it.

not just whispert, but go after it with preliminary actions. maria: we all get this on china. we know they have been stealing intellectual property. do you want to see the same restrictions in terms of china being aloud to invest in industries. there are 10 industries in china that are off limit. that's the kind of restrictions you would like to see in america? >> i don't luke to he restrictions. but as part of this potential deal, and i think we are going to get a deal over a period of time. i think the barriers will come down on both side. that's a key point for the president. he understands perfectly well that economies do better when trading barriers are reduced rather than raids. the tit for tat idea doesn't work. that includes market openings

and investment decisions. at the moment the u.s.a. is properly wary of china. the technology transfers is part of that. that could be changed and fixed. i hope it will, but all that is on the table. >> i always refer to you as a growth guy. focus on economic growth, reagan iteouse. let me ask you what's possible. beingn president has put in place in terms of the tax cut reform and the rollback in regulations. we are talking 2.9, 2.7%. what kind of growth would you like to see for '18 and '19? >> i think it's possible to be in the 3-4 percent zone. the last three quarters we picked up from under 2 to 3

degree 1 percent. confidence is booming. all that looks good. cap ex investment spend has also picked up steam. i think the factory orders show core cap ex and investment spend. so that's good. we are nofght right direction. a lot of good things happened. maria: could we get to 5% in the coming years in the u.s.? >> we could. we have had such a slow recovery, it's really a growth recession. will we get 5% forever? no. the long-term trend line for real gdp versus the actual?

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maria: tuesday the latest on the nfib survey. plus the producer price index along with wholesale trade. then mark zuckerberg, ceo of facebook will testify on capitol hill. zuckerberg returns pore more testimony wednesday. both sessions will be seen live here on fox business. the treasury reaseshe federal business numbers. we are cpi and ppi. we worry about inflation with

the economy getting better. also wednesday earnings are beginning for the first quarter. bed, bath and beyond will release its numbers. thursday we'll get jobless claims. we'll get the latest earnings from blackrock. the official kickoff to the first quarter earnings period begins. and we'll get earnings from jp more dan chase, wells -- jpmorgan chase and wells fargo. they will be look at jp more dan saying will there the be front loading of investments, causing costs to be higher than expected. i'll see you again on sunday morning for "sunday morning futures." tune in weekdays on the fox

business network from 6:00 to 9:00 a.m. eastern. that will do it for us today. thanks for joining us. i'll see you again next time. >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you w to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.