director kudlow: we may never know.my pal jerry goldstein, if i invite him on it, i want to hear their point of view. carry that in my professional life in the white house. there are differences between the agencies. you have a lot of terribly smart people. i want to build bridges. mr. rubenstein: you said it was ok to talk about this. you went through a transformative experience that changed your life for the better. you had been at wall street. you had an addiction issue. how did you do that? how have you remained sober for 23 years? can you talk about how that came about question mark -- about? -- i waskudlow: i had a hopeless alcohol and drug addict. not just beer. director kudlow: no comment. he is a pretty clever guy. mr. rubenstein: you have a problem. director kudlow: i won't go over the gory details. wife of 31 years whom i love , near the is a saint end, i had lost everything. she gave me a one-way airplane paul. to minneapolis-st. their is ath of magical place. six months there. i learned how to live differen

it's the kudlow kick. first, a flood of global headlines send the markets tumbling just before midday. theresa may, mike pompeo, steven mnuchin started to talk and suddenly the bears were listening, then larry kudlow said one specific thing about china and that prompted skittish investors to sell more on the news. the dow tumbling more than 470 points in an october frightfest. after hitting session highs, this was just around 10:30 a.m. eastern time, all the major indices including the russell and the transports, began reversing course on headlines that started hitting the wires during a 36-minute window. right now the dow is down 342, s&p lower by 39, nasdaq down 146. russell and transports following, as the markets continue to sell off in the final hour. take a look at the transports. we will superimpose them with the nasdaq. they are seeing the biggest percentage losses. right now the transports are down 266 points, 2.5%. the nasdaq down nearly 2% as big cap consumer names and tech stocks lead the sell-

according to larry kudlow.mpting to do put a maerker down that he thinks the fed is being too aggressive and place some blame for yesterday's sell-off saying it's the fed's fault, not his administration fault and not the trade policy and not tariffs with china that are the problem here underlying the sell-off yesterday. we'll see how the president continues to play this we'll see him on tape in a few moments. kanye west is expected here at the white house momentarily. kid rock is here the number of other things going on at the white house to occupy attention. we'll see the president before cameras here a couple of times throughout the afternoon we'll see what else he has to say on this. >> and ayman of course we get this just after news tha president trump is going to be meeting with chinese president xi next month. to talk about trade. one of the things that actually jumped out -- go ahead >> i was going to say white house officials are saying that that is not punned down. lar request kudlow said this morning

larry kudlow: 2016. during that campaign, i thought you made it very clear. you were speaking to people all across the country, the workforce, the entrepreneurs, business owners. thatught you made it clear the war against business is over. the war against energy is over. the war against success is over. if you succeed, you can keep more of what you earn. almost from the day after you a falling consumer confidence index started to rise, and rise, and rise. the day before yesterday, 18 year highs. the thing has not stopped rising. the same is true for small businesses. have you changed the attitudes? have you changed the psychology? go outu said two folks, there and take a rep at the bold? pres. trump: i'm a believer of this country. i am a believer in the system. i also, i said it before, we are cheerleaders. if you look at what is going on in certain states and if you look at what is going on in certain areas of the world, for the most part, the ones that are doing well are the ones that are in favor. nobody is hot like we are. there is no other country on th

larry kudlow from the white house.y the way, we'll talk to secretary steve mnuchin tomorrow morning, 7:00 a.m. eastern time on "squawk box." so market didn't move dramatically on his comments >> but i think he -- you kind of threw cold water on the notion that xi and the president get together it's a long day. you'll probably get another chance and remember there's earnings. larry and i have disagreed i do bottom up, he does tops down but there are moment where you're in disagreement and i have too many companies telling me wow, things have gotten weak and we have a fed that -- i know the president didn't use the word choice that i would have, not that i'm a statesman but i wish he hadn't said that because all i'm asking is if the president and the fed see the numbers that i see -- and they probably will in the next ree to six weeks -- they may regret that they didn't say we should be more data dependent. >> larry said something important which is the fed is independent and the white house is not dictating fed policy a

we'll ask larry kudlow, jeff flake and bernie sanders. we'll break out the politics, smoke out the spin. the facts that matter this week. >> good morning, welcome to "this week." just over three weeks to the midterms. our brand new poll gives both parties hope and fear. president trump's approval rating is 41%. the second highest of his presidency. republicans hold a slight edge over democrats on handling the economy. the number of americans who say they want democrats to hold a check on trump is slipping. they are still a majority. democratic candidates for the house lead republicans by 11 points among registered voters. fueled by a democratic edge on key issues like health care and a wide lead among women voters. only 36% of women approve of president trump and they want democratic by republican candidates in the house by 22 points. our poll showing voters are engaged. 76% say they're certain to vote and here democrats have the edge. in kentucky this weekend the president previewed his closing arguments along with one of his potential c

. >> let's hear what kudlow tells the judge. let's get to "the half." >>> thanks, carl i'm scott wapner stocks are bouncing back following the biggest two-day sell-off in eight months is the worst of the correction now over is it really safe to buy stocks? it's noon and this is "the halftime report. >>> larry kudlow is back on "the halftime report. on the agenda, fed fight, the trade battle, and how fast the economy is really growing. plus, market veteran liz ann sonders on whether or not it's time to buy stocks after this week's stocks. and a big call on beaten down netflix as we debate big tech after the beatdown "the halftime report" starts now. >>> on this friday we -- very good to have you with us on this friday. we look at the markets stocks are not at their best levels of the day, but there is green across the board dow jones industrial average good for 142 points. 25,195 you see the compas&p 500 up the nasdaq is the outperformer good for 1.5%. 7,436. here with us today jim lebenthal, steve weiss, shannon saccocia of bost

kudlow acknowledged this is something that is in the planning phases here. it is the president's plan, president's idea at this point, and he also said it is something that could take some time to generate. watch here. >> it may not surface for awhile but that's his goal. that's his policy intent. and i don't see anything wrong with that. reporter: i'm told one of the options the president and the white house could be considering here is this idea that there would be a resolution which would say that republicans intend to go down this road at some point, sort of signal that they want another tax cut, but that would not be binding and would certainly fall short of legislation. that was on the tax front, liz. as it relates to the market, when we spoke with kudlow at about 9:00 this morning, the futures were pointing deep into the red. it was about, dow futures were down 350 or something like that. kudlow was asked about the markets and the president's top economic adviser said that he believes that one of the reasons we have seen this october pull-back is beca

despite what larry kudlow says on or air today. these words matter >> presidential words carry enormous weight. that's why we're talking about them right now the question is why is the president changed his mind and you might suspect that part of the reason is because he's president now. and presidents often get frustrated with the fed. when the fed tries to take their punch bowl away in their classic role that they play, that's something that presidents, particularly going into a mid-term election as we're going into next month. presidents don't like to see that and this president expressing frustration and it gives the president a reason why the stock market declined yesterday so sharply that it doesn't have to do with his tariffs and trade policy which is what some of the commentary has been, right the president doesn't want to connect those two dots and to say that the reason why this is happen something because of his trade and tariff policies. the president wants to continue being tough on china he doesn't want that narrative

we need to watch and danielle same sort of question to you but also answer this if you can larry kudlow the chief economic advisor for the president came out after these comments that the president made about the fed being local and tried to walk it back a little bit but what do you think about it and do you think that that has any impact sort of your writing the fed on what they may or may not do coming up. so i don't think that it has an impact on what the fed may or may not do but i do think it has a huge impact on the market and just investor confidence because when you have a situation where there is instability in the market that is what actually causes the problems and said of you know and nationally when the fed came out and raise rates sure we got a little bit of a pullback but honestly i think that the pullback and the deeper correction was more caused by instability in the markets because that is not a situation that traders like that you know do you think we're going to see another rate increase in december. i do think that we're going to see another rate increase and i thin

as you know, larry kudlow kind of walked back with the president said a little bit. neverdlow: he has attacked the fed's plan or strategy. he has never interfered with the. he is giving his opinion, and it is uninformed opinion. and frankly, i think people should listen to what the president things come up with the fed is independent. we always has said after it -- we have always said that. david: it surely was not complementary. jeanna: it was not hungry, but what lyrically low said is true -- the fed -- it was not larrymentary, but what kubo said is true, the fed is independent. he is not a fan, but yes, he cannot really do anything about it. david: the president expressed more opinions. listen to what he had to say. reporter: the markets are down again today. welcome the we are still up 40% for the period of time, so the markets are still way up. it is a correction that i think is caused by the federal reserve with interest rates. the dollar has become very strong, which, frankly, people can debate whether or not they like a strong dollar or not. the dollar is ver

coming up, the president's economic adviser larry kudlow with us as stocks bounce back. debate whether the recent pull back has run its course or whether there's more selling ahead. >>> and is it safe to buy stocks again? >>> and the call of the day, one of the most beaten down faang stocks can netflix get out of the bear market see you in 15. >> sounds good looking forward to it. >>> market turmoil led to postponement of a number of offerings. anaplan surging in its debut, the stock up more than 38% joining us, the ceo. >> thank you, jon. great to be here. >> congratulations let's dig into what anaplan is, what sets it apart you do business planning that involves data from a lot of different areas, on one hand in a category similar to sales force, adobe when you talk about relationship management. on the other hand, seems old school way to do the planning was was in excel >> so what we have is what we call connective planning all organizations have a challenge for so many years. i have been doing planning myself over 30 years primarily because planning, most of us think

theft, with regard to forced transfer of technology. >> kudlow adding that the u.s. has been very specific about what they want to change inside of china to make this trade deal work out. now my sources have been telling me this is going to be a longer trade dispute with china, something that kudlow alluded to. >> there are structural issues, technology issues. we'll not give away the family jewels. there is no reciprocity entreing and tariffs. there is a whole menu of things. i hope they get around to talking about it. perhaps the chinese will be a little more cooperative. reporter: kudlow also clarifying the president's comments that the fed was growing crazy. he said yes, the president is upset about the rate hikes but he is not trying to tell the fed how to do monetary policy. david: edward, thank you very much. melissa. melissa: the panel is back with us. jack what is your take on that? >> a lot to chew on there. first of all i would agree mexico and canada are not big issues what is going on in the market. not even china. it is 90% the interest rates. it might

we have news regarding larry kudlow e eamon? >> that's right. said if we see a sell-off before the markets open, is that a healthy thing? he check this had morning and ultimately the stock market is down 5% from its peak earlier in the year he said that's not much. that's not much. i also asked him if he thought in any way the president's trade policies were responsible for the weakness in the markets. here is how he answered that question. >> i think the stock market is worried that congress will change and overturn these pro-growth laws. i really believe that. the self correction -- as i said before, these things come and go that correction has to overcome the uncertainty about this election. >> so larry kudlow there, putting it very much in political terms, saying that the markets are worried about the upcoming election, just 14 days away from those midterms even if democrats take over the house and the senate, he did acknowledge they'll not be able to pass and get implemented a reversal of the tax cuts under the president because presumably

charles: go back to president trump and larry kudlow. >> we've grown 3% plus. 18-year high at consumer confidence yesterday, the day before. how did you do it? what is the message here? >> we did it with a lot of good thought and we did it with a lot of great people like we have here today some people will go out of that and some people will go into that, because frankly, it is really, as you know, you see

selloff on the state of the economy with the president's top white house economic advisor, larry kudlow. then - - works our message to china's rulers is this, this president will not back down. >>chris: the administration takes a hard line against china on the march. are the u.s. and china in engaged in a new cold war? we will discuss the growing tensions with china's ambassador to the u.s., cui tiankai. only on "fox news sunday". plus, >> if he don't look good, we don't look good! this is our president! >>chris: we will ask our sunday panel what they make of kanye's visit to the oval office. and our "power player of the week". >> welcome to blair house. come on and. >>chris: a look behind the scenes of the presidents guesthouse. alright now on "fox news sunday". and hello again from fox news in washington. we begin with breaking news. the return of american pastor

we love and admire larry kudlow.ilt on trade concerns, built on the impact with steel, aluminum, already impacting the bottom line not only the automakers who telegraph this weeks ago, but the latest caterpillars and it works into their guidance which is a little more nervous. charlie gasparino and all of that. >> litters my friend. i went to his earth day party. love the guy. except on this narrow issue. bush is positive that. what would make the market here about democrats taking the house and republicans taking the senate. you can't reverse anything. the post and now republicans are like and pick up a seat in the senate. the democrats may pick up the house. we don't know yet. and yet that's gridlocked and nothing like it done which is kind of what markets generally like. he fails on the most commonsense levels. neil: i think it's a part of a pattern. and i understand. they've been married to the market and may go up. even if it did brief trip down. neil: i mean, he's on a market guide now. he is a politician and a

. >>> plus, word that larry kudlow went on a rant yesterday on china sent markets to their lows. remember during this hour? now "countdown" has uncovered the actual videotape of that. we will be the first to show you exactly how he said what he said and let one of the nation's premier experts on china say if trump's trade war is a winner. >>> plus elon musk's latest struggle. home builders, turn your eyes away. lotto fever sweeps the nation but how will it play out in bitcoin? charlie breaks it on who wall street is really sending to saudi arabia. we are less than an hour to the closing bell on this friday. we have made it. not quite yet, though. let's start the "countdown." liz: we are just getting this breaking news. a russian national has now been charged with attempting to interfere in the 2018 u.s. midterm elections. she is from st. petersburg and has been charged with conspiracy to defraud the united states. she is charged with managing and financing a social media operation to do so. these are the very first charges that have been filed in association with midterm election

larry kudlow, at the white house. jermaine wright of california republican congressman, darrell issa. he sits on the house foreign affairs and judiciary. >> thank you for having me on. the hardest guide to follow. you talk about the free traders. the fact that he is at the presidents side tells you that tariffs are the tool to get to free trade. his very being in the ministration says that. maria: about issues on china specifically? this could go on for years, right? dealing with a dictator for life, he doesn't care. >> we have to be prepared to make china do what they said they were going to do. i was in china a few weeks ago for the world economic forum there. and xi talked about tax cuts and did 45 minutes of a speech no one believed but it sounded great! you have to hold china accountable to what they say they're going to do, not what they have been doing. which includes spying on us, stealing technology, bullying their neighbors, the military activities in the south china seas. there is an old expression that in

kudlow told me earlier today. >> there is a couple of things i want to i think state clearly.irst of all in terms of the confidence numbers we got out today, the country has never been more confident in the policies of the government than they have in the last 15 years than they are right now. let's be clear it's actually a good time for that two, i actually think the fed does need to get to at least neutral. and then they need to figure out what's going on. but the bottom line is i don't think the fed is listening to the markets. i don't think anyone thinking the fed after a 7% straight down -- we talked about how severe -- the fed isn't making a comment. that's important to know that the fed put is over. >> the fed is going to watch the market may not be dictated by the market. >> they care about asset practices and wealth effect effect but i don't think they are going to be. >> totally agree you can't be a slave to the ups and downs of the market. they can't run the central bank that which stay the course. >>s in a week in which the president said the fed was going crazy. >

larry kudlow said the topics have not been decided yet.rease their cooperation in some measure and ease trade tensions over all. the price of electric and hybrid cars in the uk is set to rise up hybrid cars in the uk is set to rise up the government announced changes to financial incentives for buying greener vehicles. the department of transport said grants for cars that meet the toughest in co2 restrictions will be reduced, while discounts into other categories will be scrapped. that is it for this edition of asia business report. we're watching the asian markets today and their reaction. thanks for watching. this is bbc news. i'm ben bland. the top stories this hour: russian officials say they've begun a criminal investigation into a failed space mission which forced two crew members to perform an emergency landing in kazakhstan. a trail of destruction left by one of the most powerful hurricanes ever to hit the united states. the prime minister has been meeting senior members of her cabinet this evening to update them on the state of th

david: larry kudlow talked about everybody making sure prospers.e not seeing the wage increases we otherwise would have seen given this level of employment. i know the federal reserve is struggling with that. lanhee: i think we are starting to see the signs of wage growth on an upward swing from last month's job report. , the question run has to be are we training workers properly for the jobs that our economy has now? we have under scaling going on. we have people performing in jobs they are overqualified for. we see some restriction on wage growth as a result of that but fundamentally, if we train workers for the jobs in the 21st century, we should see that -- those wage numbers go up as the late -- market is tight. there are questions we need to the types of jobs available, whether we are preparing workers properly. those of the right questions. those require policy change. in ashington, we are not policy change environment. we are fighting. we cannot agree on the weather. this is a problematic issue. david: when it comes to having training for

joining us now, president trump's top white house economic advisor, larry kudlow.he dow fell more than 1000 points net this week. that's more than four percent. the other indexes followed suit. why do you think the markets took such a hit and to see them going up or down over the course of this year? >> well, i wouldn't want to give a kudlow investment strategy forecast today.but i would like to say these kinds of corrections are absolutely normal. this one so far is rather moderate. i think it's about five percent or so, six percent still ahead year to date in the major indexes by 4-5 percent. the economy is in terrific shape. we are in economic room. people thought it would be impossible. the reality is we are clicking on all cylinders. american entrepreneurs are absolutely crushing it. profits are rising confidence is up your blue collars are up your wages are up. i think the background is very positive for the stock market and i think as i said, corrections, and go to people should stay very calm over these things. it's quite normal. >>chris: you as you just de

let's get to economic adviser larry kudlow.ort there is right now in the wall street journal that the white house is on track for the president and mr. xi to meet in buenos aires. is that officially nailed down or is it headed in that direction? .arry: i cannot officially say that is for john bolton and mike pompeo in the president. i know it is under discussion and has likely been for a wild. likely has been for a while, the meeting in buenos aires. i do not want to put adjectives or adverbs. these things are under discussion. it is not just logistics, they are going to be in the same city. in his agendas, who will be in there, that kind of thing. my view is it is always better to talk the not to talk, but i do not want to get ahead of that. >> p talk about the tech sector really quickly? yesterday was the worst day for tech stocks since 2011. is there any concern that the investors are going to continue to spoil on tech stocks? not that i know of. i was looking at the segments of the 10 major sectors. tech is up 50% with this

that's 10:00 with kudlow.but prosecutor who questioned brett kavanaugh and christine ford says if this case were a criminal case, there wouldn't be enough evidence to bring it to trial. she wouldn't prosecute judge napolitano passes judgment on that too. iran files back launching missiles at syria. after that parade attack. there were messages written on missiles we'll tell you what they said after this. (guard) what i've witnessed... controlled fury. freakish intelligence. wicked seduction. these endeavors will rattle your soul... and challenge the contents of your stomach. if that sounds dramatic... it is. i have the day this monday morning october the first now up 189 points. 26,647. iran has retaliated for the attacks on that you know the attack on military parade. so ash, tell me who did they blame in therefore -- >> they blamed militants in eastern syria trained by the united states israel, and saudi arabia. so as they launch missiles against mill talents in eastern part of syria they wrote on bombs put

larry kudlow refused to confirm it.t is interesting to me that the month agoormally a that would avoid the market. it seems that the market is plowing through and trading on other issues. there is not much fate that a meeting would accomplish anything. >> we are close to the midterms. it is interesting to hear larry, talk about the initial sugar high that may be delivered in fiscal form in the second half of this presidency. assuming it is a one term presidency. let's talk about that sugar high and what could come in the second half of the year. this is what the midterms are so important. >> they are. that the taxiew cut and stimulus will not be an issue in the midterms. are of these elections local elections and rise and fall on the strength of the candidate. health care is the number one of theonfronting most races around the country. republicans don't have a good story to tell. the polls reflect that. i don't think the issue of stimulus is going to make a big difference in the midterms one way or the other. 's health

larry kudlow says he looks for 3% growth next year. they disagree on rate hike response to that growth. and during my interview with charlie evans, the futures went up but with the interview with kudlow it went down. >> thank you on behalf of all viewers out there. see you later. so let's continue this discussion on the markets. will this volatility create to put future rate hikes on hold. joining us double line capital's deputy chief investment officer jeffrey sherman back with us welcome back >> thanks for having me today. >> what do you think goes through their mind when they hear that? they've been criticized for ten years for keeping rates too low. now they're being criticized by the president of the united states for raising rates too aggressively >> right the history of the fed is it's a thankless position, right? it's not well compensated and you're under the direct targeting of all the market participants so it is a thankless job if you listen to what the chairman is saying, he is telling you that he is going to continue the p

what do you make of larry kudlow there?ve obviously, stuart, i was grateful that he corrected you so i didn't have to. i think being in that position, our pal larry certainly is spot on there, just from a data standpoint. you take a slightly under expectation number this month, add on revisions, look at labor participation force, look at wage growth, and also you have to smooth these things, three months at a time. that is what we want to look to as rolling average all-in you really have to stretch to find negativity out of the state of labor and jobs in this country now. stuart: i stand corrected. ladies and gentlemen, please pay attention to the banner on the bottom of your screen, fox confirms that senator collins will vote to advance the kavanaugh vote. that is not a yes, not a yes, but a vote to move it forward, a vote on cloture. liz: to close out the vote. stuart: a yes vote on cloture. that is a development. she will announce at 3:00 p.m. on the senate floor her final vote. we'll know at there are this afternoon. li

larry kudlow national economic counsel director spoke with reporters here on the white house drivewayg that google's ceo, here last week sundaya sundar at the house, kudlow suggesting that includes facebook, twitter as well as people he said who feel that the companies are not doing a good job presumably what larry kudlow is talking about here, conservatives who are frustrated with what they see as anti-conservative bias in silicon valley the goingogle ceo committing to attend that conference the white house hoping to get others as well no date yet for that conference. also had the opportunity to ask larry kudlow about amazon's decision to raise its minimum wage what he said on that front >> good for them good for -- i'm in favor of higher wages. >> making the right decision >> it's a business decision. a pretty good businessman. higher wages, terrific by the way, more people working and prospering, heard me say this before, is not inflationary a good thing not a bad thing. >> kudlow there saying that amazon's decision, not inflationary, even though it's raising wages across the board

report, larry kudlow show. i often thought naming a show after yourself, i don't know whether that's a good idea or not, but i kind of think it's not a bad idea. so he's become the president's top adviser on economic policy since april when he assumed the position. and in the first full quarter in which he's had this position u.s. economy grew at 4.1%. so very impressive performance for the first quarter. [ applause ] . so i'm very pleased to have larry as our special guest. he'll make some opening remarks and then we'll have a conversation with him. larry? [ applause ] . >> well, thank you, david. i appreciate it very much. thanks for having me. you're very kind. i appreciate the turn out. i don't want to spend much time because mr. rubenstein i'm told a brilliant interviewer and has many insights and i want to go there. let me just begin with a few thoughts. i believe -- i believe we are or have entered and economic boom. and virtually nobody expect this. they thought it would be impossible. most people thoug

moments from now, larry kudlow, trump's chief economic adviser.ion secretary elaine chao and agriculture secretary, sonny perdue. yes it is a big day on "varney & company." ♪ stuart: first this. just listen to what president trump said about your 401(k) if the democrats take the house. roll tape. >> look at 401(k)s. so let's say we have a really bad time in three weeks from now. your 401(k)s are going down tremendously. people will lose wealth. if they don't go out and vote, then they have themselves to blame because they will lose wealth, tremendous amount. i built up $11.7 trillion in wealth. stuart: all right. "barron's" senior editor jack hough is with us. the president make as clean-cut case if the democrats win, your 401(k) goes down, the market goes down, what do you make of that? >> it is a great case in simplicity. i think it is utter nonsense. the stock market does not act director according to who is in office as people think. we always like to pretend we know the exact reason the market is going up and going down. the people saying thi

said we can kudlow go lower in unemployment. carl: you know you are near the low point when you start to get wage pressures and that is not happening. if we look at the hurricane distortions and things like construction earnings and earnings for utility workers who are from out of state to do repairs. .7%e were .6% and increases. had they been more in line with the trend, you would have seen less wage pressure. -- what we are we are talking about is the phillips curve. chairman powell saying you can increase wages without getting inflation. could amazon make a difference? effect, will see an november 1 is the day when they are changing the minimum wage. you could see some of that in the october data. other employees are struggling to compete. to be an economy wide impact. it is one sign of tightening labor conditions. amazon is not doing this out of goodwill. seeing this in retailers, fast food chains, across lower skill segments as they are trying to combat workforce turnover. david: one of the possibilities is that amazon migh

larry kudlow next. that is what he looks like.s discreet boutique. hidden inside is a super absorbent core that quickly turns liquid to gel. so i feel protected and pretty. always discreet boutique. ♪ brian: all right, president trump promising a new round of tax cuts aimed at middle class ahead of the midterms. here to break down what it means for your wallet, head of white house national economic council, larry kudlow. we were surprised to hear about this couple weeks ago. what can we expect? >> well it is in the planning stage. we've had tax cuts, very effective help for the middle class. their tax liabilities is down about $2,000 for a family of four. we also have wage increases, a family of four, probably $4,000. maybe higher, over a period of time, in wage increases. so, the president would like to go for more. he is a tax cutter. that is a big difference from his predecessor who was a tax-hiker and we're going to try to work out some of the details on his proposal for a 10% middle class tax cut. steve: okay, here is one of

isn't that a reflection of the strength of the economy. >> larry kudlow said that on cnbc this morning. you hear the president making that case slightly he says i get there is safety there. what he is suggesting is he understands the fed needs to raise rates here so that in the future if there is another calamity like we saw in 2008, the fed has wiggle room to lower rates again and gives enemy ammunition to work with. the president in all the criticisms says he understands that he just thinks they are moving too quick and should low down. >> long day for eamon at the white house. >> shortly after jeffly gundlach weighed in. >> it's clearly he is crazy like a fox with the fed rhetoric where he doesn't want to take the blame if the fed overtightens and leads to a problem in risk assets, which you know is starting to come out in realtime in the last week or so so he is basically saying, you know, if the market goes down it's on the fed. >> so is there truth to trump's accusations here is the fed to blame for the selloff grasso what do you think. >> if you look at the time where powell had

hairy kudlow, always a pleasure, thank you for being with us, sir, appreciate it.

eric: the white house chief economic advisor larry kudlow talking about the u.s.y on fox sunday this morning. speaking about the market selloff for wall street that hit last week. mr. kudlow says though, there is nothing to worry about. >> these kinds of corrections are absolutely normal. this was sulfur actually is rather moderate. i think it's about five percent or so, six percent. we are still ahead in the major indexes by four or five percent. the economy is in terrific shape. we are in an economic boom. eric: adele has been at record levels. ellison barber joins us now from washington with more. the president often talks about the economy particularly when he is at campaign events, stock market blow unemployment, dropping wages are increasing wages. he points to those things as evidence of within the it ministration but this week was a rock you and for the stock market there was it was one of the worst days for the dow since february. stocks dropped across the board. somewhere there was a repeat of 2008 and possibly the start of a global economic slowdown. th

you had larry kudlow saying he's just a good.he system is rigged in the way of the tax code in that it benefits the very rich. it allows the very rich to not pay taxes through expensive shelters and breaching on deals that aren't really deals. so they should focus on things that are legal. >>> the trump legal team prepared responses to robert mueller's written questions. but is it enough? only 15. >>> and don't expect senate majority leader mitch mcconnell like this one. in a poll, he is america's least popular senator. 52% of kentuckyans disapprove of him, and 33% approve. bernie sanders, 63% approve and 30% disapprove. >>> a pretty exciting welcome there where beto o'rourke hauled in $38.1 million in the last quarter, which is more than a third raised by ted cruz, but in the latest polling, o'rourke trailed cruz by eight points. y s ok everyone! our mission is to provide complete, y s balanced nutrition... for strength and energy! whoo-hoo! great-tasting ensure. with nine grams of protein and twenty-six vitamins and minerals. e

larry kudlow says nothing to worry about. stay calm. is he right?d say he is and he isn't. in terms of nothing to worry about, stay calm. i think what we saw last month, last week in the market was a pullback. i wouldn't call it a plunge or a crash or anything like that. 500 points in a market that that 25,000 is much different than 500 points in a market that's at 5000. a relatively small percentage. nothing to worry about? well, there are things we have to be cautious about. the economy no question as the president says is running very strong right now. there's a lot of stimulus being pumped into it on the fiscal side of the economy from tax cuts and from spending. one of the things we do have to worry about it what's happening with budget deficits and what will happen when this fiscal stimulus runs out. >>jon: the president is upset with the fed for raising interest rates. the fed is trying to keep inflation at two percent. the latest figures show it's just a tiny bit above that, right? >> right so, the inflation rate isn't two-person but it was

now larry kudlow saying china is

kudlow says it's really the president and the chinese communist party. they have to make a decision and so far they have not or they have made a decision not to do anything wow. of course, you could argue this is just tough talk ahead of potential negotiations or you could say, this is an emphatic end to the talks. if there were any. we better get used to some serious collateral damage because of this kind -- you know what, my ears always pick up when i see chinese communist party. blas it reminds me that president trump is not a big fan of doing business with communists and in the back of his mind i get the sense he wouldn't mind if we stopped trading with china entirely. in other words, i think the president wants the economic equivalent of regime change. yet not an economic war but a cold war with the chinese once again playing the pre-nixon role of worldwide nemesis that's not what wall street wants to see which stocks hammered and which ones could have more down side the one i'm most worried about is rockwell collins. it's being bought by united tec

kudlow said we have made many overtures toward china and they have said nothing and have come back iny. we have a potential meeting with trump at the g20. maybe fix a few problems if they were to come together and come away with some resolution and the administration would back off. from where we are now, it is not happening. if the u.s. administration continues to push, the situation in china will continue to fall apart. vonnie: waiting for an outcome for the trade negotiations. there are broad areas of policy disagreement between the united states and china. you can do a short-term deal on some like soybeans, what more people in financial markets are starting to talk about the speech to the hudson institute. it is seen as the first time a senior administrator has tried to net together the grievances the u.s. has with china, not just economic but strategic, philosophical, religious. vonnie: will have a look at that and get back to the conversation. thank you for joining us. let's check in on "first word news." courtney: president trump is warning that a caravan of central american mi

president trump's white house economic advisor larry kudlow. the dow fell more than 1,000 points this week, that's more than 4% and the other indexes followed suit. what do you think the markets took such a hit and do you see them going up or down in the course of this year? >> i wouldn't want to give it an investment strategy forecast today, but i would like to say that these kind of corrections are absolutely normal. i think it's about 5% or so, 6%. still ahead here today in the major indexes by four or 5%. the economy is in terrific shape. we are in an economic boom. people thought it would be impossible, the reality is we are clicking on all cylinders. they are absolutely crushing it, profits are rising, confidence is up, blue-collar's are up, wages are out. so i think the back ground is very positive for the stock market and corrections come and go. they should stay very calm over these things, it's quite normal. if this be as you've just demonstrated are very bullish on the trump economy, but some analysts see warning signs on the horizon