jonathan cohn and from forbes. obik roy. you've seen them before. let me start with you, ovik.id john boehner call it a kingsley gaffe, accidentally speaking the truth. >> he has every reason to say what he said. we've had no agreement among republicans as to how they'd replace obamacare. republicans are united on what they're against but divided on what they're for. some republicans say we really want to repeal obamacare and go home. that's it. others, like myself, say we embrace the coverage goals of it but believe it can be done through another process. and people in the middle want to duck and avovoid the noisy town halls and try to get reelected and support measures in between. the president will have to exhibit leadership. he needs to lay down the law and say congress, send me something that covers as many people as the aca or i'll veto it. then they'll have marching orders and can put something together. >> you're finding yourself -- you're used to arguing in the defensive posture. you're now in the offensive posture. if you're democrats and you watch all of this, there

. ♪ emma chandra: coming up, gary cohn, national economic council director general. jonathanbs number -- let's get you up to speed -- 14 minutes ago, an upside surprise on the headline number, 200 -- 227,000. unemployment ticked higher to 4.8%. is the downside surprise on wages, coming in softer at 2.5%. the forecast, 2.7%. joining us, alan krueger from princeton university, and from california, mohamed el-erian. great to have you with us. the upside surprise to payrolls, kind of expected -- the market leading toward it after the blowout adp report. 20 jamaica the softer wages figure? -- what did you make of the softer wages figure. mohamed: it is disappointing. two messages from this report, one is this will make the fed less likely to hike in march, so reducing the probability of a march hike, and secondly, it puts even more focused on structural measures to enhance wage growth in the economy. jonathan: you have described it as cyclically robust and structurally challenged. we'll get to that in a moment. i want to begin with market reaction. taking march off the table, is t

jonathan golub: they set the tone. jason: gary cohn, his economic advisor, sets the tone.ought a lot of people would roll back dodd-frank. it doesn't mention dodd-frank. we should see regulators regulate less. as president trump gets to appoint with new heads of the fcc, which he will get to do over the next we should see regulators regulate less. 18 months or so, we do think his ability to regulate less even if you do not get an actual change in law. alix: what's in r.o.e. we could see if we see the rollback? jason: if you out of the four points i began with in terms of higher interest rates and a little more growth and less regulatory environment as well as lower corporate taxes, we think you can get a 300 basis point lift and r.o.e. for the industry. that is absent for a one-time boost and absent for the growth the contention that we get -- you could potentially get from there. alix: we were talking financials earlier. much more upside the think that there are? do you like financials on this? jonathan golub: i do. i think the point about higher r.o.e. cannot be understa