we have dan clifton, and john carney breitbart economics and finance editor.ifton reads your report, harkening pack to 2018, fed may make the same mistakes, they by the way, this is a federal reserve board in washington where the staff and whoever governors, what was number? 90% over 80% donated money to democrats. i want to remind people. your point is, the fed crazed about tariffs, economist say that it is inflationnary they might raise rates and damage the trump boom. >> you know better, we did a massive pro growth tax cut at end of 2017, and small tariffs on china. over courts of two 2018, and fed got worried it was inflationary, that higher growth, and tariffs, they made a decision to keep rates high and elevated through ought 2018. they did was a cut off growth, you could see it in yield curve flattening and december of 2018 comes, and s&p 500 falls 20% in dirs, in the month of december, they were wrong, trump is right. people make mistakes. but they are using the same logic today to justify high arehigher interest rates now, they were all about cutting

dan clifton, how to do you read this story?, i have a little bit of a different variation on it. as you remember, in november the president said he would put the tariffs on mexico on day one. that did not happen, and i think the president's keeping his foot on their throat to make sure that they are enforcing the remain in mexico policy when it comes into effect. if you read these immigration executive orders, tease are sweeping immigration -- these are sweeping immigration changes that the president is putting forward that will finally get our border secure. but there has to be the cooperation from mexico on the other side to do that, and he just because not -- does not want the make sure that there's caravans coming through. he wants to make sure they're going to have beds there. and canada is putting up significant dollars in their budget on infrastructure, but i think more broadly the president wants to see more progress on getting access to the arctic where russia and china are starting to make inroads, and canada has a ve

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dan clifton and john carney weighing in on next.s a fed day and not much happened and left rates unchanged. this tariff thing, they've got to figure it out. i'm kudlow, we'll be right back. turning into their parents , the neighborhood is their life. wonder who's visiting the burkes. that's not their car. hey, guys. who's winning? [ giggles ] now most of the neighborhood uses progressive -for their cars and house. -okay. she didn't ask. ohhhh! [ sighs ] progressive can't save you from becoming your parents. but we can save you money when you bundle home and auto with us. here he comes...like clockwork. [ giggles ] hey, grab more delectables. you know, that lickable cat treat? de-lick-able delectables? yes, just hurry. hmm. it must be delicious. delectables lickable treat. is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a game changer for my patients. try pronamel mouthwash. larra rhode islander the fed i

the tariffs will come. >> dan clifton, how do you read the story. >> as you remember november the presidentaid he would put the tariffs on mexico on day one. i think what the president is doing is keeping his foot on their throat to make sure that they are reinforcing the remaining mexico policy when it comes into effect. when you read these immigration executive orders, these are sweeping immigration changes that the president is putting forward that will finally get our borders secured. but there has to be cooperation for mexico on the other side to do that and he just does not want to make sure their caravans coming through. i will tell you this, putting up significant offers on the budget wanting to see more progress in the arctic. starting to be able to make and rose and canada as a very good road to that. this is a president that is in a unique position because he has been here before and he knows where the levers are. he is laying them down to make sure that all the policies work. >> just to follow through on this, remaining mexico back in the first term which was very successful in

. >> dan clifton with strategis. china is preparing for the next round of tariffs. eunice yun spoke to three manufacturers who have three very different approaches this time around. >> hoping to beat trump's tariffs, harry lee is doubling the number of products he ships to the u.s. and storing them in warehouses them there. four out of five tables are sold to american consumers. lee expects the stockpiling will force him to raise prices as much as 10% even before the tariffs. i have to ship them in advance and take on more risk, he says. water purifier maker jeong yu is scouring the globe to supply the u.s. by creating a new production base outside of china. jeong is considering malaysia and mexico, but at the moment is leaning toward dubai even though it will increase his cost by 30% compared to china. the domestic market is too competitive. we've been waiting to jump out of it for some time. trump's tariffs gave us the final push. long who makes skincare products is worried he may have to stop exporting to the u.s. completely. his goods got hit with tariffs north

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the question of with the coaching investment strategist at john hancock investment management and dan clifton and tom back for more. matthew? >> i love hearing no new taxes, that was the word, the theme, what we are seeing is the midwest is booming, small business optimism is surging and the u.s. economy is re- accelerating. but, the old macro playbook of how to play this has changed, small caps were the best way to play a acceleration of the economy but we do not see that right now small caps, the russell 2000, 40% of the companies do not make money. what they would prefer is low interest rates and capital given to them instead of making the profits. mid-cap is the new small-cap. the profitability of mid-cap, starting to see the relative strength improve in mid-cap, more industrials tilting of the midwest, this x that will be coming to the economy, it is cheap, a valuation buffer to the highflying growth names and we are playing mid-cap into 2025. >> i love the passion. no new taxes, that was the message, is there anything on the deficit, treasury issuance and interest rates, which goes back