scott bessette is now saying today that there is a deal, and while i hope it is you're moving in that direction. i want to see the get the devil in the details because you know, the executive summary sounds pretty good. but when you get into the actual details, it may not be what we think it is. and again, you've still got to deal with the, the d, all of it. so let's catch up with united kingdom is the ukraine is reportedly demanding us security guarantees and exchange for the deal. that would be part of the payoff hard you for see that come megabyte. is it a realistic proposal at kind of work? well, it's not putting them in nato, which is a bright red by that. i don't think the us are certainly uh, and they put in the rest of what we agreed to. but it's the us, as a financial interest in their rebuilding and reconstructing ukraine using some of these resources that will be paid not only to, to pay back to the hundreds of billions that have been provided so far in this conflict. but also to kind of move forward in the us as a vested interest, not just to protect ukraine and ukrainian

the treasury secretary scott bessette, well, he underscored the need for a system overhaul last nightthat's where the real waste for fraud and abuse is. what they are looking at is the treasury is the actual algorithm and how things get paid and whether things are properly accounted for. and i can tell you, just from the information that i've seen, there is very improper accounting. there is no notations. >> so at 2:00 p.m. today, kayleigh, lawyers for the press event on the treasury department will try to convince a federal judge that they should lift a restraining order blocking elon musk and doge from accessing this critical payment system. kayleigh. >> kayleigh: ryan, thank you. you know, en, you are in america first legal and you know what it's going down here and more broadly in the legal route, this temporary restraining order and actually stop the treasury secretary from accessing treasury data which is incomprehensible. then they amended it so that it was senate confirmed political appointees which still bars any other federal government employee from accessing treasury data,

and then treasury secretary scott bessett has talked about this idea that there is some substitution. may go down over here, or people can substitute away. >> well, and it's also based on the idea that these would be permanent and not something that goes away in three weeks or something along those lines too, which would be even more complicated. >> exactly. but i think one of the interesting things about this is i know the market does not like uncertainty. it likes to know where the potholes are, where the where the costs are coming from. and when you look at that chart, it's really hard to figure out. and i think the fed is kind of in the same bucket of tell me the answers to all the questions in that chart, and i'll tell you what my policy is, right. >> this is like when somebody asks you, how much money do you need in retirement? well, tell me how long i'm going to live, right? and i can back it up from there. >> so becky, what's the rating of the chart, would you say, on a scale of. i've had some really good ones that you've liked? oh. >> i get it. >> i think. >> it gets it down

scott. >> bessett, now treasury. >> secretary, was among those. >> supporters of candidate trump suggestingors, according to the wall street journal at the time, the tariff gun. >> will. >> always be loaded. >> and on the. >> table, but rarely discharged. >> and yet. >> trump is threatening additional tariffs on europe, as. >> well. >> as tariffs. >> on. >> steel, aluminum. >> copper and computer chips. >> wall street more or less bought this temporary tariff spin. morgan stanley, writing over the weekend full implemented tariffs with staying power don't appear to be in the price of key markets. so despite assurances tariffs would be rare and just using negotiating tools, markets should at least be thinking about the notion that tariffs could instead be widespread and important revenue measures that are more permanent for the trump administration. we'll get a look at how the fed is thinking about all this on tariffs and the outlook for gdp and inflation. in exclusive interview we have with boston fed president susan collins today at 11:00 on monday. movers. >> you know, i will say after our

scott. >> bessett finds. that's actually spent. >> that was misspent.> at least more. >> than more than appropriated. i think it's going to be a lot. >> it's going to be a lot. it's going to be a lot. but we have other stuff to talk about. guys, i. >> actually i. >> know you want to talk about steel tariffs before before i've gone to. >> can i just ask one other question to kevin though because because it was something we were talking to tom emmer about, which is, you know, we are seeing that some of these payments and we're looking and going, oh, these payments don't don't seem to make sense. for example, i will use one just one example and i'm not picking on them. i know they're a competitor of ours. but bloomberg people looked at these bloomberg subscriptions and said, why does the government have bloomberg subscriptions? and i thought to myself, i want a kevin hassett to have a bloomberg terminal if he needs it. and i would want someone at the treasury department who's selling treasuries and bonds to have access to a terminal. and so i only say that

scott bessent, his treasury, is clarified that the administration is looking for lower 10 year yields. how do they manifest that? talking it down? kelsey: that is a good question. the signal bessette was sending is that this administration is still sensitive to financial markets and there are certain indicators that they use as guideposts in terms of assessing the success of their administration's policies. the equity market -- are equities going up? that is a sign that trump policies are going well. secondarily, it is the 10 year yield. the moves up and down in any given day -- if we get to a point where 10 year yields are approaching 5%, i think that is a different story. it is an indication and a signal to the administration that something in the policy mix is not driving well. -- jibing well. scarlet: the stock market -- goldman sachs talked about a bear trade for u.s. stocks, saying it is running out of steam at this point. if there is a positioning switch to a more bearish stance, how do you see that affecting positioning in fixed income? kelsey: a couple of thoughts on that. one is we have not seen any fall in demand or appetite to take on risk in the credit markets. credit