so it is interesting to me that people fixate on lina khan.e could analyze that in a number of ways but truthfully i had to chuckle when i saw reid hoffman and barry diller, and another -- that said harris, should she become a president should get rid of lina khan. it was a little bit saying the quiet part out loud, a little bit too much. it was sort of funny. but i think they are important lessons for the democratic party at this moment. and we don't know yet --. >> she is a lightning rod for the super one-dimensional issue that we have cement -- as americans should be discussing what role that antitrust and anti-monopolistic role should play and what the role should face the government's role should be in it. >> it has been basically a dormant area of law and regulation for decades. it's been completely dead. part of the reason for that is because government regulatory agencies are scared of losing cases. and the only way you are going to change that dynamic is if i stop becoming scared of losing cases and they start to be willing to take ri

ceo, they are afraid of lina khan, they don't like what she is doing.or fast company and the atlantic. what you think about the report from the journal? i get it, you are fortune 500 ceo, you love deregulation and tax cuts, donald trump is offering a whole lot more unpredictability , it is nerve-racking for them. >> reporter: that is the really important part, the article talked about that a little bit. i think the loose cannon factor is a big part of what makes ceos nervous about trump. you really don't know exactly what he is going to do in terms of any kind of policy, certainly in terms of economic policy. i do think trump runs essentially, sees the world as in terms of deals and personal favors. he is really trying to cut arrangements with different kinds of companies. i think it is generally not something that fortune 500 companies want, what they want is some kind of stability, regulatory certainty. as you said, look, fortune 500 companies will be biased for republicans because they like deregulation and tax cuts. i think trump really does not del

> as you know there was some democratic donors, big-money interest, who don't like the work that lina khanppen to think she's the best ftc chair we have had for a very long time. if kamala harris is going to be successful in taking on corporate greed and taking on concentration of ownership she's going to need somebody like lina khan at the head of the ftc. >> finally, senator, do you think the price issue still crowds everything out in people's perception of the economy the way it did six months ago, a year ago? >> inflation is going down but i think especially when you walk into a grocery store people are legitimately concerned. by the way, one of the other issues she talked about today was the expansion of the child tax credit and making it permanent. in the american rescue plan we, by doing that, cut childhood poverty in america by over 40%. you make that permanent, we deal with the outrage in the richest country in the world we have the highest rate of childhood poverty of almost any major country so paying attention to the needs of parents and kids is enormously important and i'm gla

so i went to this conference and what a top guy, a fairer society, was interviewing lina khan. and these these two people should be enemies. and and this first guy was saying that he agreed with lina con mainly on issues that big tech companies have gotten too big and too influential and are hurting regular americans. and i found that too mindblowing because you know, these these guys should be enemies and instead even some people on the other side are coming out to be more anti-corporate. also, facebook. i spoke with j d vance, the senator, republican senator from ohio, who is possibly trump's vp right shortly. and if not, trump's v.p. if trump wins somewhere importing administration and you know, he he to me more and more like a pro-worker or democrat. i mean, he told me that. konst iterated economic power is as dangerous or more dangerous government power, which is something democrats used to say more and more republicans are coming out and saying that these big companies have too much influence. and again, that's a break from what we've seen in our entire lifetime. and so i

in the case of lina khan maybe, to be extremely hostile to consolidation and to develop these theories that even vertical integration that's not harmful to consumers should somehow be restricted. and the list goes on and on with the other regulators. my theory is when you have agency leadership that are exceeding their legal authorities, it's particularly unreasonable to also empower them to be the adjudicator of whether or not they're exceeding their authorities. how do you think they're going to decide, right? and the chevron deference largely allowed them to both implement sometimes these creatively-justified rules and then be the judge that decides whether or not they did it properly. so what i like about the loper decision is, in my view, this really restores the proper role of the judiciary in deciding legal matters, right? this has not really been controversial in the u.s. since marbury v. madison, and yet we gave this deference to the agencies and so for congress to -- for the courts to take it back with respect to legal disputes, i think it just makes a lot of sense. does cong

from the market, i look at deal with mars and telenova and if harris selected and lina khan stays at ftc, does she elect someone else? i'm contemplating a deal if you're in that building and meat packing industry and food industry and do you pause to say, let me figure out what's happening in the election before i kind of sign the dotted line to announce a merger and going to see a bit of slow down in the market. and continuing or changing for the biden administration. kelly: yeah, might take away from hearing that and it'll be much more scrutiny on the mna space and more scrutiny on the consolidation and we broaden out and we talked about the markets were good retail sales and cooler than expected on cpi and cross landing is being harolded and looking at manufacturing numbers that we're getting and seeing contraction and that is certainly a w way always haroldg a recession and are we done with the slide that we saw last weekend? what do you think comes next week when we hear from powell at jackson hole. >> yeah, the market is pricing in a quarter rate cut in september. the continuat

the lina khan lady, she's a total radical. she's not respected by her staff. she's a bully.he's going to companies for a tiny little acquisition that worked out. you can't make this stuff up. it's totally anti-capitalist, totally against companies in general. that the not what the ftc is sf supposed to be about. i'm on the side of holding big tech accountable. i'm not on the side of radical regulators who are against companies in general. >> i'm wondering how thick your skin is at this point. if -- even if you're generous, and we had a venture capitalist on the other day, and the best he could say is if you're not backing a insurrectionist, all you're worried about, you have stacked your priorities to your wallet and your tax cuts and i think that might rub you the wrong way because i'm looking at the notes. there's about ten things you say -- reasons that venture capitalists or someone in silicon valley could back someone that may not be just about tax cuts. i won't read them for you, but they're pretty good ones. you know what i'm saying? i heard that, and it's the same gu

>> look, lina khan i don't know if they want to stay. those jobs are grueling.now and the typical life cycle of those jobs you shuffle through, i don't think -- i wouldn't think if they wanted to stay that, you know, a future president harris would remove them. they seem to be having the same ideological philosophy about enforcement in regulation that the vice president has expressed, and certainly her new running mate, too. so i wouldn't be surprised if -- >> if the former president, former president trump becomes president again, how do you think it shifts? and the question is, people say that now the environment's very uncertain when it comes to dealmaking. but another view it also could be uncertain under a president trump. i don't know if you believe that's the case. >> you know, i think there was -- when i came in in 2017 and i was appointed, a lot of times personnel is policy. it's how that person -- so much discretion in these types of jobs. you know, s.e.c., ftc, doj, that depends on their ideological bent. how they view free markets, and the role of an

we saw a couple weeks ago when the venture capitalist reid hoffman talked about replacing lina khan at the progressive wing of the democratic party rebelled against that that a donor would call for that. these are issues were democrats themselves just don't agree and i think this party, of this convention is focusing on unity and defeating donald trump so bringing forward -- tech brings forward hot button issues they would rather leave to another time. caroline: enjoy pink and may be as well later today. meanwhile that does it for this edition of bloomberg technology. you do not want to forget to check out our podcast. you can find it on the terminal as well as online with apple or spotify and on i heart. from new york, wishing ed ludlow getting well in san francisco. ♪ say aloha to olukai golf. waterproof leather. breathable fabrics. spikeless traction. the most comfortable golf shoe in the game. grab your pair today at olukai.com. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun

administration, the biden administration, the white house, the justice department, even the ftc with lina khanthey've had good success if you want to call it that against corporate or monopolistic antitrust-type beihavior. if that were to continue, would you expect them to push further on the momentum by google and alphabet? >> i think it's clear that donald trump said if he's elected, the first thing he's going to do is fire gary gentzler. i don't think that's how it works, but i'm not going to be the with unto tell him that. is there more of a conversation in a relationship with tech like there was under obama? i think that through november, there will be a lot of question marks around this. that being said, the government the ends to get their guy, and so this is going to cost google a lot. we probably will see some changes in terms of how ad works operates. on the epic game side, we're going to see changes in how the app store operates. that's not necessarily bad. i just don't know that it's going to be this sort of complete 180. >> this is also a scenario where many of these big tech comp

some of her big donors want her to ditch lina khan, but that was a biden pic and progressives want toher. any understanding of what the ftc could look like under harris as president? >> i think that, you know, so if you look at her background as a prosecutor she is definitely kind of looking to do some antitrust, but anyone coming in may want to have their own people in the various agencies. that might even just depend on how she feels lina khan is currently working in that agency and what she wants to do moving forward. so, i don't have a good idea on if she could make a change of the top but that is something that harris could be quite focused on as it goes back to her price gouging proposal from friday and it is still something she is looking at doing. annmarie: price gouging, this is something that the republicans have taken a hold of to criticize harris. you are at the dnc, but are democrats saying? i have heard economists saying that this is just rhetoric and not a reality. what are you hearing from the dnc when it comes to this? have they fallen short on this idea because of th

then you know, biden comes in with lina khan and the justice department and stops any sort of rationalmpanies. comcast should be buying this company for $15 billion. taylor: tough sell in this regulatory environment. >> they will noll allow it. you are left with skydance and a crazy deal. get back to bronfman for a minute i don't think he really had the money lined up. when i looked at the people he had there, i mean there was no kkr. there was no blackstone. i mean it was like fortress and some guy from kazakhstan, borat maybe, i don't know it was the weirdest thing t looked like this was a play. this is my opinion. it is not fact. end on this, looks like a play to get david ellison to throw more money at this deal. he would never go there because he had some good protections. >> you're the deal-maker when you sit on the program, thank you, charlie gasparino -- >> i'm not -- taylor: you're breaking down the deals own this show. for that we are grateful. closing bell ridges in just about four minutes. we are close to another record here on the dow as you can see, if we stay in the gree

>> i cannot agree more if you look at the antitrust actions that of been taken by lina khan in the biden never seen a merger or acquisition that they like. i would refer people to today's wall street journal editorial which says if they block this merger, are you ready for this the grocery prices will rise and will make it more expensive on top of the 22% increase in grocery prices we have already seen. this is activist government interfering with the free market system and i think it is a disaster it is not just groceries they want to block tech companies, telecommunication companies, they want to block airline mergers, they hate mergers and a lot of fnc's, were in a global economy such as american companies were competing with companies all over the world. stuart: it's back to the future. a former advisor to president obama is calling out kamala harris price control plan he told the times that this is not sensible policy the biggest hope and incipient rhetoric and no reality. i'm sure you're going to agree with that one. >> it is interesting because let's face it, all the policies that

if you look at lina khan and what she's done at the federal trade commission, i believe she's almostolicy perspective rather than a legal enforcement perspective. and that's created great -- tremendous uncertainty. and they have been able to profit from that uncertainty, so that's a good thing for our investors. at same time, she really has had a deterrence effect on seeing m&a transactions. so, if we have a harris administration, i would expect a continuation of what we've seen for the last four years. if we have a trump administration, i would -- lina khan certainly will not be chair of the federal trade commission and i would expect there's a fair amount of pent-up demand in deal-making and we should see that demand, you know, being released and so we'll see a lot of m&a activity in 2025, if we see a trump presidency. >> matt, always appreciate it. we'll be continuing to report on the fate of u.s. steel. appreciate you sharing your thoughts. thank you. >> thank you for having me on, david. >> very welcome. carl, i'll send it over to you. >> david, thanks. david faber. watching the

know, went out of his way to say the one person doing a good job in the biden administration is lina khan, that was surprising. so, there's that. and i think she's trying to move more to the center on fracking, on energy, so, i think there's sort of oddly converging, except for taxes. that's a very big -- >> right, the tax -- >> the tax plan that's come out. >> unrealized gains -- >> there's no way that flies. >> raising the tax rate and then getting rid of capital gains for those that earn more than $1 million. >> i don't think those are -- i think those are sort of wish list kind of things, but i think the corporate tax rate moving is something that could -- that could happen. but i think so much of it depends on what's the rest of the ticket? if you have the president, you have the senate goes republican and the house -- i think there will be grid lock. >> listen, understand the composition -- that's everything, right? but just, let's play it out for a second. you're going to hate to hear this, but the reason why gold's done as well as it has, i think, is predicated on everything we he

we are seeing lina khan is a very controversial person. ling for khan's outster. i think she is embracing the honeymoon phase. the fabltct she is new to the g and you juxtapose her with biden who is senile and older. she is young and vigorous and people are excited about that. >> is your sense -- is your sense that she's somebody that wall street -- that the bill ackmans of the world -- bill is not turning back. bill ackman originally said biden should step down. he started with biden should step down. not i'm voting for trump. then he moved to trump. there are a bunch of people who moved that way. are any of those people moving back? >> i don't think they will publicly backtrack in a really aggressive way. i think they had a moment where they were at the rnc where you see a lot of silicon valley types. they feel jd vance is their guy because he was a venture capitalist. now that has dimmed a little bit. i feel these people feel they are too far in to the trump campaign to take a step back. at this point, you want to bet on a winning horse.

but the question for us is, do we actually want to expand the scope of power of the ftc under lina khanr whoever leads and? to be able to make the decision on what counts as fair or unfair competition? republican critiques of kamala harris this past week was that her decision would give the ftc the authority to decide what did or did not count as price gouging in the marketplace for groceries. this is an idiotic policy. it not something you want a three letter bureaucrat with politicizing motivations making the decision on. we cannot expect the same ftc to perform any better if we are empowering the same organization to make relatively speaking the same arbitrary decisions. the way i explained this to a conservative who, may not share conservative goals, but a conservative who says the right ways to use muscular state intervention to achieve our goals or else we will never get there. to use the case of u.s. steel, anybody in the room know who the top shareholders are of u.s. steel? >> blackrock. vivek: blackrock. blackrock is the top shareholder of u.s. steel, a top shareholder, along w

and today, i think with some work by lina khan at the ftc is like a fairly arbitrary, fairly capricious, leads to a lot of uncertainty in the markets. so i'm just curious, do you sort of reconcile this, the seeming contradiction, or is it even a contradiction in my misreading? you know, i think that as i said, that i think that the first step is that the role of government has expanded a lot. but i'm not in the camp which believes that the should have zero role, which is that there is a role for government when there's a crisis, when there is you know, there is a role for government in some basic welfare, you know, like for a society. and the antitrust, i mean, i think that when things get too far, something needs to be done about it, which is the fact that something is wrong in america when a handful of companies are earning extra ordinary amount of profits and then they're using those profits to just keep gobbling up new entrants, which slows down the of innovation and then they using those, those incredible amount of profits to lobby in washington to get regulations done and you know

and today, i think with some work by lina khan at the ftc is like a fairly arbitrary, fairly capricious, leads to a lot of uncertainty in the markets. so i'm just curious, do you sort of reconcile this, the seeming contradiction, or is it even a contradiction in my misreading? you know, i think that as i said, that i think that the first step is that the role of government has expanded a lot. but i'm not in the camp which believes that the should have zero role, which is that there is a role for government when there's a crisis, when there is you know, there is a role for government in some basic welfare, you know, like for a society. and the antitrust, i mean, i think that when things get too far, something needs to be done about it, which is the fact that something is wrong in america when a handful of companies are earning extra ordinary amount of profits and then they're using those profits to just keep gobbling up new entrants, which slows down the of innovation and then they using those, those incredible amount of profits to lobby in washington to get regulations done and you know

he thinks lina khan is one of the individuals doing a pretty good job.eak up some of the big players, this is going to be an r&d issue. >> rafael bostic saying he is looking for a little more data before supporting a rate cut. he's added he's encouraged by recent inflation readings. question about the little more data in about one hour, where that given that confidence. we will also be speaking with him coming up in jackson hole. another modest increase last month. the consumer really is in focus here and it is a host of data earnings that really are coloring the picture. to growing list of companies are warning of a slowdown. marriott cutting its outlook expecting weaker demand in north america and china. marriott international president and ceo joins us now. always wonderful to see you, thanks for being in studio. i feel like the u.s. and chinese consumer are two completely different stories so i want to start with u.s. terms of the greater weakness. is it across-the-board or this bifurcation that we just keep seeing, low-end really crimped? >> there i

in particular about lina khan and the ftc, and how much it has engaged in policy that he thinks is goodess? eric: at the moment many of our clients are watching what is going on in washington, wondering what is going to happen in the regulatory environment. if you look at this election, it is an election where we are going to have a change from a statutory and regulatory standpoint. because there is no incumbent running. if, let harris were to win, she is not joe biden, so let's see what that means. what i think is going to happen as far as the regulatory outlook is that you will see change, you will see a rotation in asset allocations. we are already seeing so much of that going on in the markets from the s&p into the russell. but i think all of this is going to bring about some more activity in the markets. i know from moelis and company, we are optimistic. lisa: do your clients and colleagues and yourself donate to both parties to cover your bets? or is it picking a sigh? eric: look, it's sort of goes back as long as i have been attentive to this stuff. wall street, business in gener

looking at apple for producing a superior phone, and i think there's an article from the ftc, when lina khanyounger, talking about maybe there's a cocoa -- is that a cocoa cartel? >> says these companies are being penalized somehow for their incredible success, for executing better than their competitors and their competitive set. the other argument would be -- and i know you also share this to a certain extent -- they are so involved in our lives in every way that the size and power of these platforms, so to speak, is unrivalled in terms of, really, corporate history or until -- you're a student of this history. maybe there's a period in the 1890s, but i don't know. >> there was one when teddy roosevelt was president and standard oil had 100% of the oil market, and they did that by driving everybody out, putting flash flood -- lowered prices when anyone came in, and they wrecked every single competitor. >> it's hard to prove the alternative, which would be, what would the world be like if these companies weren't as large and powerful? would more flowers bloom? >> it would be a poorer world.

if you could unequivocally say president trump would be 120% from lina khan, something you could selluld be and j.d. vance, some say he's said friendly things. >> it's pretty clear if you go back to 2016, to 2020, the approach to merger regulation in the u.s. was more pro-growth than it is today. >> although personal animosity towards a ceo could preclude a merger being okay. >> let's just -- stipulate that's not going to happen. okay? >> oh -- okay. but you know what i'm saying. so inflation. do you think tariffs across the board? do you think that's going to help with inflation? >> what's really testing is that the tariffs put in place in 2016 to 2020 are still there. so the people who have had their hands on the wheel the past four years -- >> talking about even more. former president trump. >> let me give you a way to look at that. what he's saying is, if other countries are continuing to use tariffs or other measures for unfair competition, he's going to respond boldly. >> okay. let me -- mike brought this up earlier. inflation's been bad. there's nothing wrong with selling a, so

. >> i think lina khan is trying to look at the anti-trust system in a way it is different from the last 30 years. not actually in the last 100 years. the question is whether -- >> she is a controversial figure. >> i don't dispute that. >> i don't know if it is good or bad for commerce in the united states. the same thing goes for this. i'm not sure -- i have -- i'm pre-disposed to think to let this fall where they may. we have great companies. let them operate. >> the government is fighting a, you know, yesterday's war. the truth is that now you have openai doing their own search product and perplexity. it appears they can emerge. it might be like everything a fight that should have happened if it was going to happen, a long time ago. >> i think the supreme court making that point, the supreme court should have originalists interpreting the constitution. is this a constitutional case? can you go back for google? >> you are looking at the sherman act. >> you can't say that they're right or left. >> let me say this in the politics of it and i think you'll agree with this. i just want all

you know, we have antitrust laws and thank good noz for lina khan who many out there starting to enforcee entire markets and do whatever they want, because we don't get the benefits then of markets. this is just one more tool in the toolbox to deal with companies that use their dominance to be able to boost their profit margins. that's all. >> they tell me out of time. senator, real and fun and good to go back and forth. we've done this before and have to agree to disagree. i hi tothink the way the united states came out of the pandemic. you want to thank the government. i think the private sector we can thank for the 15 million jobs and everything else. i think we need to embrace it. may be a few bad actors but the whole idea it's all about these bad corporations is just ill-conceived. thanks for your time. >> she let you finish. >> she did. ended the interview. >> but she had the last word. very good. >>> coming up, hear's from atlanta fed president raphael st.boic stay tuned. "squawk box" will be right back. that's because cdw showed animation studios new ways to maximize their infras

a big debate over ftc chair lina khan state. her term expires in september.er senator from california and has strong ties within the tech industry? annmarie: why do you think it is a treasury secretary position under trump? he does not mention trump or harris. we have seen this individual talk badly about trump openly but also give him credit when credit is due. it is not like he is very obvious about what team he's playing for. ed: i think i made the comment space upon what he said back in davos where he seemed to open up this opportunity. we have gone through possible lists of treasury secretary's. we put him on the list in the trump election. i would not have put them on the list in a biden reelection. it's a maybe should harris win. it's an important point. i think given some of the comments he's made, it is slightly more likely in talking about having someone from the other team, he is viewed in d.c. as a democrat. the other team would be the republican party. jonathan: based on the comments we have seen from him, the team he is on his united states. tha

or, can she actually hang your hat on real policy positions that say we will replace lina khan, change immigration strategy? this is why i've changed. price gouging, this is how it will lower prices considering the pushback. we will probably not get that but people are hoping for it. jonathan: i have changed from my position from the 2019-2020 primary. you have to go to the left a little more to try to win it. did not even get into the primary. dropped out before the voting started in 2020. those positions are not her positions anymore. that is what is implied. some physicians from the administration are hers and aren't hers. is that what we are supposed to take away for the last three and half years? lisa:'s shape shifting beneficial for her? can she say i reflect the will of the people and this is how i shape shift and this is my criteria and what goes into the strategy? is it more of a scenario analysis? rather than simply trying to state her claim that people can anticipate what her rule would look like. people don't have a sense of that right now. jonathan: we hope this is the beg

ftc chair lina khan has questioned why inflation for groceries is near zero this year, but grocery costsies, and that americans should be getting more competitive pricing among grocers. >> all right. we want to get your opinion on our question of the day. we are asking, how do you prefer to dress when you go to work? your options on the screen, business casual right now at 32%. casual street clothes coming in hot at 47%, leisure athletic worth up to be a little bit higher. that's at 11%. and business professionals, though, still wearing coats, ties, suits the works a low 10%. you can vote to the qr code up there, right side of your screen. put your phone there or visit ktvu.com/vote. we'll have more results coming up later in the program. coming up, slow job growth and a tumbling stock market out on wall street. what economists say the numbers may indicate. >> plus an update on the current housing market in the bay area. the latest data from redfin that points to a potential buyer's market why do couples choose a sleep number smart bed? can it keep me warm when i'm cold? wait, no, i'm al

we thought lina khan might be part of the next administration.is is one of the text messages i got. you know this guy very well. this is a drem crate image beige. the role of the vr pre-election is not to impose their views on pill. the job for tim walz is to campaign. who would be to be p. if he can be folksy, getting hit happened into trump. walz knows the assignment. the assignment is to beat trump. there's another view. i'm so done with the democrats and the insidious anti-semitism of the large progressive wing. i think those two text messages can sum up the vast expanse of nfrlgs that came in yesterday this pick. >> thank you very much for your insight this morning. coming up, look at a key primary race in missouri and the defeat of a so-called mef gip. she wanted to share her thoughts on "morning joe." that's straight ahead. thought on "morning joe. that's straight ahead. riasis, and the chance at clear or almost clear skin. it's like the feeling of finding you're so ready for your close-up. or finding you don't have to hide your skin just