partial government shutdown but the fed chair is safe with a job according to the council of economic advisers advisor who that the morning president is not considering firing, even if he could, the fed chair. the president facing tough questions about market volatility. they said there are a host of economic indicators as to why the volatility in the market. the government shutdown. looking to ease concerns of the market and the business community, saying that hundreds of thousands of federal workers who were furloughed will receive payments and this will work itself out in the long run. no one knows how long the long run is. >> you mentioned the markets. let's go to taylor riggs with a check of the markets who is looking at a greener board. it has been green and red, now green again. taylor: it depends on what time of the day. it was green and red and now back to agreeing with all major averages up more than 1%, near the highs of the day. mastec as well, so much -- nasdaq as well, up 2.5%. within the s&p 500, all major sectors mostly higher. a broad-based rally here in a few sectors -- a broad-based

pimlico'sar from economic advisor. selloff thisg a friday morning with the dow down .8%, and the s&p down .7%. it is a down day for most stocks. we had the nasdaq down .9%. come into my terminal. halfway through the year, every analyst was raising their forecast for the s&p 500 as much as 3000 and that fell apart in august, september, and october. thoseear in targets -- year in targets seem far off. some of the individual stocks, tcots go, they have -- cost did. ventures are not enough for the declining growth they are saying. progress admitting the in china is more difficult. weeks and a tough few year for the banking sector. citigroup, bank of america and goldman sachs on pace for the biggest loss since 2011. he thinks the banking sector will continue to see record earnings in 2018 and 2019. i want to look at the negative sentiment playing out the broader indices, leading to a stronger dollar, lower yield, and an elevated fix. guy: let's talk about some of the macro stories from a different perspective. we are down,

white house economic advisor, kevin hassett, called it a short-term problem. >> they might miss a paynment shutdown, but in the end, even if they are not working, congress has decided to pay people for the whole time. >> during previous government shutdowns, the estimated cost of lost productivity climbed into the billions. but the president's economic advisor claims there is no threat to the economy this time around. >>> the government shutdown is affecting a wide range of offices here in the bay area. one group that will be hit particularly hard are federal contractors. people with skills in tech or high-end construction will not work. will not be getting paid. will not be getting back pay, and will not be able to make up those last hours, or assignments. >> i think these are totally avoidable circumstances. that just have the enormous implications on the government employees and contract employees, and more importantly, have a significant impact on the american people. i would like to find a way to avoid them in the future. >> thanks to the shutdown, passport offices inside federal

papers, with our reviewers, author tony evans, and columnist for the evening standard and the economic advisorruth lea. stay with us for that. good evening. indonesia is braced for the possibility of a further tsunami after a wave triggered by an erupting volcano killed more than 200 people and injured nearly 900 others. thousands of people who live on the islands of java and sumatra have been forced to evacuate to higher ground as the tsunami hit coastal areas. the volcano, anak krakatau, has been continuing to erupt today. our indonesia correspondent rebecca henschke reports. a popular local tourist destination, now a disaster zone. the only road in, cleared to allow aid supplies to get through. people here now trying to piece together their lives. the next second, a wave engulfed the stage. the lead singer confirmed that four bandmembers had died and that his wife is still missing. this coastline where the band were playing is now littered with trouble. rani says she doesn't know how they will rebuild. translation: we were all set up for christmas and new year holiday period. but it's been

. >>> the head of the white house council of economic advisors and treasury secretary talked about economic and trade issues this week. they were part "the wall street journal's" annual conference. >> we're going to dive into the economy over the next hour tracking the u.s. economy. it's on a roll setting a pace for global growth, how long can that continue? can the u.s. be the only economic engine that's pulling the world's economy at this point? what about that u.s. budget deficit? kevin hasset is the chairman of the white house council of economic advisors. please welcome them. >> thank you. [ applause ] >> oh, kelly, tharnks. we're down to 19 minutes, so let's just get right into it. >> why don't we start out talking about financial markets. the dow is down around 700 points as we walked out here. why is the market down? what is it telling you? >> i think that, you know, day-to-day stuff is hard to call. i think one of the main driving forces in equity markets is revisions for the outlook. if you look at how the outlook has revised since last spring, i think the big change is the asian

and white house economic advisor larry kudlow stopped short of calling them an agreement. >> the history here with prisno. >>ter:today,resint iredff a counsel robert mueller an out-of-control prosecutor and saying his former lawyer and long-time confidant michael cohen should serve a full sentence for lying to congress. jeff? >> weijia jiang, thank you, at the white house. >>> coming up next, questions about the nfl's investigation of a star running back accused of assaulting a woman. know what turns me on? my better half, hors d oeuvres and bubbly. and when i really want to take it up a notch we use k-y yours & mine. tingling for me, warming for him. wow! this holiday season get what you want still fresh... ♪ unstopables in-wash scent booster ♪ downy unstopables dove gives you so you can wear anything.ms from athletic tops to zebra dresses, and everything in between. enjoy 48 hour protection and softer, smoother underarms. with dove antiperspirants. >>> the national football league is facing questions about kareem hunt who was horted pushing and kicking a woman earlier this year. jerick

the stanford professor that bush appointed as head of the president's council on economic advisors. boskin says it has been a tough few days. sotboskin was actually supposed to fly from the bay area to houston on wednesday this week to see the former president, the man he worked with so closely for four years and the man he stayed friends with until his death. instead boskin will be flying to washington d.c. on tuesday morning with good memories on his mind.sotboskin says that bush had friends everywhere and he stayed close with all of them through notes and letters. bill draper is a venture capitalist who, like george h.w. attended yale university and became longtime friends with bush.sotboskin says the former republican president had challenges with a house and senate that was overwhelmingly democratic. despite that he still managed to get things done as the administration whethered two financial crisis's. outside of the serious stuff though boskin says he'll never forget going fishing with george bush. sot oc: things of that sort of that sort ( robin )breaking overnight in the no

art laffer, president reagan's' economic advisor. economist donald rurks skin. -- donald ruskin. donald, little start with you. some folks over at cnn who don't understand the economy actually want to believe that the success we are seeing right now is somehow aattributable to barack obama's policies. what do you say to that? >> in 2008 when barack obama won the presidential nomination for the democratic party he said this was the moment when the rise of the oceans began to slow and the planet begins to heal. this guy is a first class messianic narcissist. so don't be surprised that he takes credit for the economy after he has been gone for two years. your statistics say the all. the obama economy, 1.3 gdp group p growth. d. he not standing on shoulders of giants. he's standing on the shoulders of a pigmy. trish: it was frustrating during barack obama's years. lower taxes, less regulation. but it's not that hard. yet he made it hard for himself. you flip a switch, you change the policies, and what do you know, you get growth. how abo

check out "fox & friends'" interview with white house economic advisor and the cryptkeeper's wingman,arry kudlow. >> the president tweeted out something about we're getting rid of the 40% tariffs on cars. you know, we haven't heard anything official about that. can you explain what happened? >> i think it's coming, okay? >> well, he already told us. give us some details! >> stephen: "come on, larry! we're sitting on this couch putting our asses on the line for you guys every day! give it to me straight: what are the details of this china deal, and why hasn't the caravan murdered me yet?" ( laughter ) cuddly, he went on to explain that the tariff reduction that trump announced was more of an aspiration. >> it hasn't been signed and sealed and delivered yet, but, look, i think they will go to zero. in my view, i think the president expects them to go to zero>>phu cat justay something happened because you expect it is going to! that's like sending out announcement cards like this one: "it's a boy! 'm going on my first date with this woman tonight, and i think she'll make an excellent mot

he washarry truman, when listening to his economic advisor, said please bring me a one-handed economist. direct question , can you tell me when the next recession is going to happen? alan: some time. david: we have had recessions every seven years since world war ii. alan: it is going to be driven by the fact that debt is rising dramatically, there is going to be some curtailment's occurring and it will feel -- feed on itself. is something that when youin the 1980's, have a situation where both unemployment and inflation were high. it was something which the original model said that was not possible. we are going into that type of period now, if you look at all the guidelines. david: if you are worried that we are going to go into recession, do you invest your money in a certain way to protect against that? alan: you cannot protect everything. veryannot forecast accurately. right now, we have been at a long-termextreme, interest rates and they are beginning to move up and will continue to move up. that is going to cause a turn in the market. are you worried about inflation right now? al

art laffer joins us now, former reagan economic advisor. nder and chairman, to reflect on former president bush to focus on economic policy. anybody watching, you have art laffer on, you are talk about those days, you have to ask him about voodoo economics. it is interesting because, i think most people probably do know the story but for those who don't, briefly george h.w. bush when he was running against ronald reagan in 1980 had criticized his economic policy, cutting taxes and spending more money on military and other things being quote voodoo economics. he was not only criticizing ron are, art, he was criticizing architect of that policy which would be in past well, you. could you talk about that and how your relationship developed after that when he became vice president? >> let me say i knew george push, president bush fairly well, not really well. he and mrs. bush i knew well. saw a lot of them during the reagan years. they are the finest people you ever meet. decent, wonderful people, which is a rare commodity in the highest echelon

for that we'll go back to steve liesman at hq. >> the president's top economic advisor affirming to reporters past hour that the fed chairman's job is safe here's the transcript of what we came up with nbc reporter nichols says is the fed chairman's job safe? kevin hassett says yes, of course, 100% yes question, again 100% the fed chairman's job is not in jeopardy by this president hassett says absolutely, that's correct, yes president trump did continue his criticism of the fed on christmas day saying it was raising rates a little too fast but maybe a little softer saying he was confident the fed would get it pretty soon here are the president's complaints about the fed he said rates are rising too fast actually they're running at half the pace of '04-'06 hikes. some of what's going on in the markets could be in response the president is claiming it's not supporting fiscal plans. actually monetary policy is independent of the fiscal authority. one problem with president trump is his problem is not just with jerome powell, it is trump's fed to a large degree. five of seven seats filled, four

economic advisors of the white house agree with the president. they worry at some point the interest rate hikes will start to slow down the economy themselves. however white house economic advisor peter navarro says he is encouraged by the change in tone recently by the fed. >> importantly the federal reserve has announced it is no longer going to be announcing interest rates far in advance. it will look at data instead and make reasoned choices. reporter: recently the federal reserve chairman jerome powell saying they are near neutral, possibly signaling a pause coming up later next year. the fed also saying in their statement employment is doing well, separating business investment. saying it is possibly slowing down. that is something they're watching. we're looking possibly two or three more rate hikes next year with a possible paws in there. we have to figure out where it is. back to you. melissa: edward lawrence, thank you. connell: let's go to our panel with more on this. adam lashinsky joins us today, "fortune" executive editor. michelle,

i want to go to former economic advisor, art laffer.le lot of accountability there. it needs to change at some point, art, right? what is the long-term consequence? >> the long-term consequences will be disastrous. we have time to do it, but what you said is exactly correct. these people don't bear the consequences of their own, silly actions. what we have to do is make them responsible for it. i suggestion is that you need to put all of these politicians on commission. if they don't cut it, they get their pay cut. justike the rest of us, if you borrow too much, you will get a problem in your budget, too. these guys don't bear the consequences of their action. >> trish: went there is not enough incentive. i don't know how you change that. everyone wants to spend, spend, spend, so they look good in their various districts. you know, whether they are going to be -- they are, in a couple of years, or six years. they don't necessarily have that comparability. >> you should. you change it. imagine if the 3% growth, you gave them their pay. a

major averages sinking across the board after president trump's economic advisor suggests new tariffs are not off the table. the dow closing down 559 points. had been down more than 660 points earlier in the day, extending its losses for the week. the s&p 500, tech-heavy nasdaq, ending lower. see that right there. everybody in the red there. down about 4 percent for the week. i'm melissa francis. connell: i'm connell mcshane. the good news it is friday. melissa: there you go. connell: this is "after the bell." we have team coverage of all going on the crazy markets. gerri willis on the floor of the new york stock exchange. susan li in the news room. edward lawrence in washington. phil flynn watching all the action at the cme. gerri, you get to go first. >> i tell you the traders are happy to close out the week. the dow down 559 points. as you just said, that will be down 4.5% for the week. markets across the board. index is down 4% and change. take a look what dragged this lower. financials people are focusing on right now. in the dow, jpmorgan chase down. american express down. finan

eric chaney economic advisor at institut montaigne, joining us from paris.inutes from the start of trading this friday. 7:50 in london. 10 minutes until the open of stock trading. we will look at stocks to watch including danske bank as it caps off a tumult year with a profit warning. a broader focus on scandinavian financials. nordea also making headlines. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: the european open." 11 minutes from the start of cash trading. let's get your stocks to watch. we are looking at danske bank, adidas, and nordea. give us the story on a bad year getting worse for danske bank. >> it has been a bad year for danske bank. this is the second profit warning in three months. the silver lining is this has nothing to do with the bank caution own operations, nor to scandal of money laundering. they are claiming financial turmoil, which might be a mitigating factor when the stock market opens. matt: we had a good numbers from nike. what is the deal with adidas? >> it looks like adidas will open higher today, on a topline

they also found comfort in a statement from a white house economic advisor. he said the chairman jerome powell is safe despite reports that president trump has been looking for sack him. >>> let's take a look outside. for the most part, it is sunny but on the chilly side today. we are in the conditions coming up for new year's. >> we are several days away, but the weather pattern we have outside right now will be very similar to the weather pattern we will have come new year's day. your new year's forecast first calls for mainly clear skies at 7:00 monday evening. at midnight, we are talking 40 degrees, clear and cool for new year's eve. that is very similar to what we have outside right now. here is a wind advisory in effect for tomorrow. it is going to be when the above 1000 feet in elevation. some downed trees are possible. otherwise, there is clear weather. we may be done with any precipitation for the entire rest of the year. coming up, we will talk about how chilly we get a night and afternoon highs into 2019. that is coming up in a few minutes. >>> pau

partial government shutdown but the fed chair is safe with a job according to the council of economic advisers advisorrning president is not considering firing, even if he could, the fed chair. the president facing tough questions about market volatility. they said there are a host of economic indicators as to why the volatility in the market. the government shutdown. looking to ease concerns of the market and the business community, saying that hundreds of thousands of federal workers who were furloughed will receive payments and this will work itself out in the long run. no one knows how long the long run is. >>

and then there was a confusing fury about one of khan's boyfriends to keep team of economic advisors around that highlighted some of the complex challenges on faces in getting his policies through. the media is a respected economist and academic known internationally and throughout the muslim world. could be said to go nevertheless within days of his appointment and it was an uproar from the religious groups protesting that all the for me was from the secretary and said to be a muslim and therefore he should be dismissed from the government. initially resisted. then a few days later the government did another u. turn and given. it was a political blunder it was very badly handled but i don't think he had any choice. and he realized that. and he realizes that if he goes the other way and chooses to retain him and sort of digs his heels on it it would backfire inveighs that would be very difficult for him to handle the main group behind the protest was a relatively new religious party that they take in the back pakistan or the t.l.b. . holder is one of the leading activists it's anothe

and then there was a confusing fury about one of khan's boyfriends to keep team of economic advisors around that highlighted some of the complex challenges on faces in getting his policies through. the media is a respected economist and academic known internationally and throughout the muslim world. could be said to go nevertheless within days of his appointment and it was an uproar from the religious groups and protesting that all the premier was from the secretary and said to be a muslim and therefore he should be dismissed from the government. the b.t.r. initially resisted. then a few days later the government did another u. turn and given. it was a political blunder it was very badly handled but i don't think he had any choice. and he realize that. and he realizes that if he goes the other way and chooses to retain him and sort of digs his heels on it it would backfire and ways that would be very difficult for him to handle the main group behind the protest was a relatively new religious party that they take in the back pakistan who are the. holder is one of the leading activists

white house economic advisor larry kudlow said china could cut tariffs on u.s. and roll back retaliatory on u.s. agricultural imports. president trump and chinese president xi jinping agreed to the trade truce during a meeting in argentina saturday, but none of the commitments was agreed to in writing, and specifics have yet to be worked out. official statements from the chinese made no mention of the concessions. >>> news of the trade truce sent stocks in this country higher. tech companies led the way. the dow jumped nearly 288 points, and the s&p 500 added 30 points. the nasdaq composite finished nearly 111 points higher. >>> and speaking of the overall economy, fed chairman jerome powell says despite solid economic progress, challenges do remain. speaking at a fed awards ceremony in washington, d.c., yesterday, powell pointed to slow wage group for lower income workers, sluggish productivity, and an aging population. powell did not discuss the fed's interest rate policies. >>> last week, stocks surged when he signaled the fed may slow the pace of rate hikes

important to remember that he is a man and that caused stocks to plummet and the white house's top economic advisor also added to the uncertainty in an interview with fox news. i think it's coming ok and a real troll is what give us some details. well it hasn't been signed and sealed and delivered yet but china so far has remained relatively quiet about the discussions its call most ministries simply released a statement on wednesday saying is promoting the work of negotiations and looking to find areas in which progress can be made. where we can all be joined live by andrew and independent china specialist joining us here on r.t. international good to see you today so the meeting between the chinese and american leaders at the g. twenty summit it seemed to yield positive results but now we've seen a bit of back and forth between the sides and through what's your view. it's all up in the throes of all the rivalry between the united states and try to spot us all training isn't technology for example this walk way of china's national leader in technology that will launch. the states to get at the nex

it's a roller coaster want just for emotions but for the market to even the white house is top economic advisor can help with a disaster but it's only uncertainty i think it's coming ok they're in trouble that's what give us some details well it hasn't been signed and sealed and delivered yet and adding to all the confusion is the proposal of this ninety day truce that period this supposed to be used to ramp up dialogue an attempt to mend the rift between the two sides richard wolfe a professor of economics at massachusetts university says volatile relations between trying the united states for the entire world. there is the crazy up and down of the tensions with china one day we're on the verge of a breakthrough the next day with threatening one another again the next day we're friends the next day we arrested the executive in canada and the biggest problem about all of that is the uncertainty this kind of crazy uncertainty may be good politics for him but it's crying gould's up the economic lifeblood of the united states let's be clear what's being done year if the united states wants the res

the president's chief economic advisor about itn sunday. >> did kelly resign, or was he forced out? >> i don't know, to be perfectly honest. i tnk it was very ammicable. >> now, there is word that kelly's departure comes soon after kelly was interviewed bys special co robert mueller. now with ayers out, here are the top candidates that hearing about so far for president trump. there's a long list, but here's just a couple. congressman mark meadows. he is the chairman of the freedom .cauc also, steve ncn. the current acting attorney general, the u.s. trade rep, although he is said to be quite busy with china right now. president trump tweeted he will be making aso decision , and it could end up being an interim person for now. elsewhere in trump's staff shake-ups we have a new pick for torney general. this is william barr. he was tapped for attorney bush sr.nder georg he is also another big advocate for very strong presidential powers. also, there's heather nowart. this is a former fox news anchor. she's ambassador. for u.n. she's being criticized widely for lacking the skills needed

joining us now is kevin hassett chair of the council of economic advisors.ets. it has been a wild ride in recent weeks and looks like another one this week. what does the president have to say when he had so much to say on the markets all year. we saw so many records and now those gains are gone. is he concerned about what the markets are telling us? >> right, well i think the markets have fluctuated a loot this year. i can tell you what we talk about what it all means. basically what's going on is the u.s. economy is booming. we got data on friday that jacked up our growth estimate for fourth quarter all the way above 3%. we're rocketing along at 3% growth and the markets haven't reflected the good news. if you dig into it the big reason is the chinese economy is in deep trouble. chinese markets are down 30% last i checked. european markets are also having trouble. the european economy is really close to recession. in part because of insertty of brexit. there are uncertainties in europe and asia. u.s. multi-nationals make half their profits outside of the u

and then there was a confusing fury about one of khan's boyfriends to keep team of economic advisors around that highlighted some of the complex challenges on faces in getting his policies through. the media is a respected economist and academic known internationally and throughout the muslim world. could be said to go nevertheless within days of his appointment and it was an uproar from the religious groups protesting that all the fear was from a sectarian suited to a muslim and therefore he should be dismissed from the government. the b.t.r. initially resisted. then a few days later the government did another u. turn and given. it was a political blunder it was very badly handled but i don't think he had any choice. and he realize that. and he realizes that if he goes the other way and chooses to retain him and sort of digs his heels on it it would backfire inveighs that would be very difficult for him to handle the main group behind the protest was a relatively new religious party that they take in the back pakistan or the t.l.b. . holder is one of the leading activists it's anoth

according to the council of economic advisors, this illegal heroin costs our country $238 billion inhink of. that we are talking about a wall for $20 billion or $15 billion. i can even do it cheaper if i have to, and it will be better than anybody has ever seen a wall. think of. that you are talking about hundreds of billions of dollars, and you are talking about a fraction. you would make it up in a month by having a proper wall. you see what is happening. you see where they are surging. and our great people are able to easily handle it without the wall it gets tougher, but you know what? they still handle it. illegal immigration is a threat to the well-being of every american community, threatening innocent families, overwhelming public resources, and draining the federal treasury. congress must fully fund border security in the year ending funding bill. we have to get this done. they are playing games. they are playing political games. i will actually think the politics of what they are doing is very bad for them. but we are going to very soon find out. maybe i am not right, but u

establishment but as soon as he got in he filled his team with goldman exacts like gary cohn as chief economic advisor goldman gave conan a living presence pre bribe. senator elizabeth warren dubs it's a quarter of a billion dollars carrie cohen picks out these sacks full of money goes into government and rewrites the tax laws marriages to cram it through and pointed called once again and show savvy investor us in its israel that goldman selling ordinary american products they knew would fail them betting on their failure practices that contributed to the two thousand and eight world economic crash then treasury secretary hank paulson nevertheless handed goldman a ten billion dollar bailout paulson just happened to have been yes you guessed it goldman sachs chief the evidence shows that goldman repeatedly put its own interests and profits ahead of the interests of its clients and our communities when the system finally collapsed under the weight of those toxic mortgages goldman profited from the collapse using a fictitious exchange rate in two thousand and one gold magically disappeared greece's debt

it's a roller coaster not just for emotions but for the markets too even the white house is top economic advisor can't help but exacerbate all the uncertainty. i think it's coming. already gave us what give us some details well it hasn't been signed and sealed and delivered adding to all the confusion is the proposal of this ninety day truce that period there's supposed to be used to ramp up dialogue an attempt to mend the rift between the two sides well so far china has kept fairly quiet about the talks but to many actions speaking louder than words. we believe this is a clear signal that the drug war is escalating to a new level public opinion in china will likely become more negative in respect to the trade war and potentially against u.s. companies the government may find it difficult to tell the public that they have offered significant concessions to the u.s. when we spoke to roberto d'ambrosio he's the chief executive of the stock market analysis party research he remains unconvinced though that the g twenty summit will resolve disagreements between the u.s. and china. but it came out of

and then there was a confusing fury about one of khan's boyfriends to keep team of economic advisors around that highlighted some of the complex challenges on faces in getting his policies through. the media is a respected economist and academic known internationally and throughout the muslim world. could be said to go nevertheless within days of his appointment and it was an uproar from the religious groups protesting that all the fear was from a sectarian city a muslim and therefore he should be dismissed from the government. initially resisted. then a few days later the government did another u. turn and given. it was a political blunder it was very badly handled but i don't think he had any choice and he realize that. and he realizes that if he goes the other way and chooses to retain him and sort of digs his heels on it it would backfire inveighs that would be very difficult for him to handle the main group behind the protest was a relatively new religious party that they take in the back pakistan who are the. numbers holder is one of the leading activists it's another million y

argue that technology will eventually kill the profession altogether the white house council of economic advisors published a report in two thousand and sixteen that found that vehicle automation could threaten up to three point three million jobs industry professionals however argue that trucking will always need a human if for nothing more than ensuring proper functionality and in case of emergencies such as flat tires system failures or the need to recharge batteries on vehicles like tesla's semi. thomas all electric class eight semi were several decades away from you know trucks that are going to be able to drive themselves in urban areas in particular the technology that we're adding so that it will get less intensive let less labor intensive is far is that a technical skill of the driver but what it is doing is adding safety technology by leaps and bounds incorporated into the truck autonomous vehicles it's great they're fun to talk about they truly are but no matter where you go no matter what autonomous truck you see you generally see a driver seen a steering wheel which means there's goi

trouble ministration is consistently denying that some do of them larry kudlow donald trump's economic advisor says he and didn't even know about the arrest when it happened while while it was having dinner with the chinese president ams the u.s. trade representative was on the sunday shows out and so was several other economic officials from the administration trying to play this down saying look this is an entirely separate matter it's a criminal justice matter it will have no impact and so the don't worry about this is nothing to do with us we had expected to have any effect meanwhile there we have senators like marco rubio saying this should just be the beginning of things we've long been concerned about the national security implications of doing business with china especially when it comes to technology so now we should crack down hard so we're seeing this the top administration in a difficult position between between its its own senators on democratic senators and its trade representatives saying look this isn't going to help very much is it so they are in a tough position but i don't f

. >> reporter: but the president's economic advisor could not explain a critical fact about the chief of staff's exit. >> did kelly resign, or was he forced out? >> i don't know, to be perfectly honest. i think it was very ammicable. >> sources say the president is expected to name a new chief of staff by the end of the year, and that is a change because this weekend mr. trump said he expected to have some kind of announcement within a couple of days. one top advisor, who had been in discussions for that job, nick ayers, is not taking the position, and, instead, will leave the administration at the end of the year, and will go to a political action committee. president trump, i'm told, is looking for a long-term commitment, and ayers wants to take his young family back to georgia. francis. >> we'll see where it goes from here. kelly, thank you. >>> after four weeks of violent protests, the president of france, emmanuel macron, will address the anti-government protests today. in paris the city of lights lit up like a war zone after 10,000 yellow vest demonstrators clashed with police.

our guests joining me tonight are evening standard columnist tony evans, and the economic advisor ruthingham airport has resolved the issue with its flight control centre, following hours of suspended services. many flights arriving and departing at the airport were delayed earlier today and this evening, but the airport has confirmed with the bbc that the runway has been reopened. a man and a woman who were arrested in connection with drone activity which caused widespread disruption at gatwick airport have been released without charge. sussex police say a damaged drone has been found and is being forensically examined. flights were grounded for more than 36 hours when drones were first spotted close to the runway on wednesday night. our correspondentjenny kumah is at gatwick and told me more about what the police have been saying. well, police say they have made a significant development. they say they discovered a damaged drone near the north perimeter of the airport and they are forensically examining it. these details emerged after they announced that they had released without cha

with me are tony evans, author and columnist for the evening standard and the economic advisor ruth leaow's front pages are already in. let's take a look, starting with the independent — which has a striking picture of survivors searching through the destruction caused by the tsunami that hit indonesia, killing more than 200 people and leaving hundreds more injured. the telegraph leads with the queen's christmas message — saying she'll be urging britain to overcome "deeply held differences" and to treat others with respect — in herfinal message before the uk leaves the eu. also calling for unity — writing in the daily express — prime minister theresa may calls for the country to "come together" ahead of brexit. the drone disruption at gatwick airport leads the daily mail — with the paper claiming that the police are clueless as to who was behind it. and that story is on the front of the times — who quote the police officer leading the investigation admitting the possibility that there may not have been any drones at all.. while the i reports that ministers will meet tomorrow to discuss

it's important to remember he is a tariff man that cause stocks to plummet the white house top economic advisor also added to the confusion in an interview with fox news i think it's coming ok i was very intrigued all this what give us some details well it hasn't been signed and sealed and delivered yet. despite trump's comments china has been quiet on the prospects of a deal only this wednesday china issued a vague statement saying it will be looking at negotiating on specific issues get reaction from economist. he exaggerates he he leaves with an issue of threats which are exaggerations because he doesn't intend really carry them out . that's a strategy that he employed in the business world and he's brilliant at the government he hopes that the threats will soften his opponents up and then he concedes. and he thinks that he gets a better deal that way well that may work in commercial property negotiations in the u.s. but it isn't where globally with other countries trump will probably agree to something on purchases of agricultural goods which are already doing and on market access and make

it's a rollercoaster not just for emotions but for the markets too even the white house is top economic advisor can't help but exacerbate all the uncertainty i think it's coming. already told us what give us some details well it hasn't been signed and sealed and delivered yet and adding to all the confusion is the proposal of this ninety day truce that period this supposed to be used to ramp up dialogue an attempt to mend the rift between the two sides. ok let's get more reaction ivan jeanne hand saying he's a senior international. relations there actually at the royal holloway university of london and you very welcome thanks for your time this evening what are your views here because there were concerns weren't there that this arrest might set trade talks between the two countries but it looks like the u.s. and china do definitely want to reach some sort of agreement. you know i think of michael stipe probably want to reach the agreement was and i sing this in certain loops used going to put some damage. at the moment i'm not saying that probably that we would just and crossness make it very d

are his moderate economic advisors that melanie is talking about, are they gaining leverage, or is the president feeling the sting of china's retaliation to the tariffs? >> when you look back at the last two months, you look at the mid term elections, they looked at the trade policies and tariffs, this was something that was a sensitive subject. this is something the democrats were attacking him on. they had to tiptoe around it because they didn't want be to split from the president. i think this is something that republicans, particularly on capitol hill, are going to look at and breathe a little bit of a sigh of relief to see the president pumping the brakes on his tariff policy. we'll see where this goes and what the route of this is, but certainly i think it's something that republican leaders are going to look at and say, this is something that they welcome. this was an issue that was politically perilous for them over the last few months and something they're hoping the president will turn the page on. we're seeing an initial indication of this right now. >> president trump wants