larry kudlow -- back to jobs, larry kudlow's comments, and lots more. jobless rate held steady, 3.7%. average hourly earnings were up 3.2% year-over-year, topping forecasts. larry kudlow stressing the positive data. he also had a lot to say about federal reserve chair and former fed officials. riccadonnaed by carl of bloomberg, and susan schmidt, aviva investors head of u.s. equities. carl, there were a lot of positives. just summarize for us the consensus view of this jobs report, given that we know august is generally revised higher. we can look at what treasury yields have done in response to this report. this was a weak report. you take out that when he 5000 incenses hiring, and we are talking about -- that 25,000 in census hiring, and we are less hiring. to be sure, the economy is resilient. the beleaguered manufacturing sector is still leaking out some job gains, while the ism sunk below 50 this week. the u.s. economy is resilient, but nonetheless, it is showing signs of strain due to not only trade tensions, but economic uncertainty more broadly.

larry kudlow saying earlier they are back on track for talks in october.uawk on the street" will be right back for farmers here, this is our life's work. but when a recall happens, perfectly good food goes to waste. now, we've got away around that. looks good. we're on target. blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. it's used by some of the biggest retailers everywhere. a nice lettuce. so more food ends up on your table, is that daddy's lettuce? yeah. and less food goes to waste. ♪ ♪ >>> top white house economic advisor confirming last hour the u.s. and china will hold trade talks next month but larry kudlow told me he is not going to predict the outcome. >> president trump himself continues to say we will make a deal as long as it's a good deal for the united states work force and the economy, and the president himself believes china wants to make a deal because they are not doing well. they are not doing well right now, and i think they are going to need some help, and trade might improve their economy. but, but,

thank you, larry kudlow. i think will make this little announcement to you because important, you know the so-called whistle-blower, the one that didn't have any first-class or first-rate or second-tier information, from what i understand. you'll have to figure that out for yourself. i've spoken with leader kevin mccarthy and the republicans, many of them. we were going to do this anyway, but i've informed them, all of the house members, that i fully support transparency on the so-called whistle-blower information even though it was supposedly secondhand information. which is sort of interesting. and other things have come out about the whistle-blower that are also may be even more interesting. but also insist on transparency from joe biden and his son hunter on the millions of dollars that have been quickly and easily taken out of ukraine and china. millions of dollars, millions and millions and dollars taken out very rapidly while he was vice president. i think they should have transparency for that. i've i

larry kudlow downplayed the report.orking, and america is getting paid, and the economy is very strong, probably much stronger than all of this rumor mill, media narrative would suggest. these are very very strong numbers today. mark: total payrolls although -- also climbed to a below forecast 136,000. harold schulz has suspended his presidential campaign. he intended to run as an independent. he called himself a centrist independent, opposing opponents freemedicare for all and public college. he was a longtime hero of zimbabwe who critics say turn into a villain. robert mugabe is dead. he was a driver of the 1970's were of independence that ended white minority rule. his tenure as president was marked by violence and chaos. robert mugabe was 95 years old. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. did not addd states as many jobs last month as people thought. gains in private payrolls hit a t

all right larry kudlow is now with us.men, he's with the national counsel director and he joins us now all set larry here we go. here's my interpretation i'll start with my point of view. on the you nigh if i was going to do this i think it is very, very modest job growth in a slowing economy which is being slowed by uncertainty over china trade. tell me i'm wrong. go ahead. >> you're wrong. [laughter] >> exponged on that will you. >> no stuart, you know, i have greatest respect for you. nobody better in the business look -- let me just try to -- illuminate numbers 130,000 payroll a solid number not a spectacular number by the way seasonably, the august print cially comes in low and then revised high or. but let's not get that out. here's the story. here is the story. okay -- the household survey. household survey from which unemployment rates are derived household survey tends to be smaller business newer businesses, and leading indicator exploded exploded. 590,000 new jobs in the household survey. that is virtually unpre

maria: the national economic council director larry kudlow on u.s.ia." stay with us. ♪ baby don't worry, you are my only. ♪ you won't be lonely. ♪ even if the sky is falling down. ♪ you'll be my only. ♪ no need to worry. ♪ baby are you down, down, down, down. mean anyway? ♪ well... if you run a business, it means a lot. for starters, we provide you with financing options for your customers. that way, you can help them buy the things they love instantly and pay over time. and that turns them into serious fans. hang on, there's more. want customer insights? we've got those, too. we use data to show you what your shoppers have already bought so we can tell you what they might consider buying next. and you can offer them the perfect products. that ceo gets it. from adding unique capabilities to your company's apps to bringing you loyalty programs, our technology and financial solutions are changing what's possible in all sorts of ways. so, how can we change what's possible for you? performance comes in lots of flavors. ♪ (dramatic orchestra) so, how can

vonnie: i just want to fact check what larry kudlow said about 4% on wages. i did look it up, and the last three months has been three point 2% year-over-year, 3.3%, 3.2%. what did he mean by 4% plus? alix: he's talking about --ira: he's talking about the momentum, so basically if you took the last three months in isolation and annualized that. that was my point earlier in our discussion, was that the momentum on the wage site has been ok, even though job great.n hasn't been great. the some of that -- the sum of that is ok for the economy, and shows that things might be stabilizing somewhat. the consumer has really been the big heartbeat of the economy so far, with the manufacturing sector continuing to decline and being more of a problem for the economy than a help. vonnie: thank you. ira is bloomberg television's chief u.s. interest-rate strategist. guy: let's get more on the impact the global markets. we are joined now by caroline u.k. deputy cio. does the payroll number change anything for you? caroline: not a great deal. it was slightly weaker than what

index is has gone substantially up which was an incredible larry kudlow wherever you may be larry please stand. me just gave me these numbers. and existing new home sales are through the roof just came out or oil prices have gone down ever since the saudi arabia incident and they've gone down very substantially so we have plenty of oil. but those numbers were surprising to larry in the extent of the increase is that a correct statement so thank you larry kudlow. we think we'll make this little announcement to you because important you know the so-called whistleblower the one that didn't have any 1st class or 1st rate or. second tier information from what i understand you have to figure that out for yourself. but i've spoken with leader kevin mccarthy and the republicans many of them. and we were going to do this anyway but i've informed them. all of the house members that i fully support transparency on the so-called whistleblower information even though it was supposedly secondhand information which is sort of interesting. and other things have come out about the whistleblower that are

a couple different numbers that kudlow is pointing to first off, wage growth. you saw the number that edward threw up there. kudlow is talking about a different one though pointing to the last three months of wage growth and when he says you take the average of the last three months and the average of that time period from one year ago, the white house is trying to make the case that it is over 4% over the past year, but they are also pointing to the household survey, which grew according to that survey, the labor force grew by some 590,000 people over the last month. now the household survey has been going up in the last few months, but connell it was something that the administration was steering far clear from. you didn't hear a peep about it earlier this year especially in march and in april when that reading was negative. now, the white house is pointing to that read, as a sign of strength in the economy. >> you know, folks are working. they're getting paid well, and i think a lot of folks who move that labor force see that and they want to come back in an

that would be larry kudlow, top economic adviser to the president. he joins us live from the white house in our 11:00 hour. yes, indeed. "varney & company" is about to begin. stuart: you're looking live at the white house -- i'm sorry, at the house intelligence committee hearing room. the acting director of national intelligence, joe maguire, he's set to testify on the whistleblower's complaint against president trump and as we said, that complaint has just been made public. hillary vaughn standing by at the capitol with more on this. bullet points, please, hillary? reporter: the whistleblower does admit they did not have a first-hand account of a lot of events that they then went on to describe in this complaint but they do say that at least half a dozen u.s. officials voiced concerns to the whistleblower about the president trying to use the advantage of his office to try to entice foreign governments to interfere in the 2020 election. one of those at the center of this is of course this phone call with the ukrainian president and obviously, presid

so thank you, larry kudlow. we think we'll make this little announcement to you because, you know the so-called whistle-blower, the one that didn't have any first-class or first-rate or second-tier information, from what i understand, you'll have to figure that out for yourself. but i've spoken with leader kevin mccarthy and the republicans, many of them, and we were going to do this anyway, but i've informed them, all of the house members, that i fully support transparency on the so-called whistle-blower information, even though it was supposedly secondhand information, which is sort of interesting. and other things have come out about the whistle-blower that are also maybe even more interesting. but also insist on transparency from joe biden and his son hunter on the millions of dollars that have been quickly and easily taken out of ukraine and china. millions of dollars, millions and millions of dollars taken out very rapidly while he was vice president. and i think they should have transparency for that. i'v

i like larry kudlow as much as the next guy.ers are strong, which is growing faster than inflation but the unemployment rate is a lagging indicator. something is changed in the economy and we know that from other trends we see. manufacturing is shrinking for the first time since president trump was elected. that's a bad sign. businesses are buying less equipment. business investment has gone down. you talk to ceos, business leaders and they cite the trade war, it produces uncertainties and we've got more tariffs coming along that are going to hit earbuds and flatscreen televisions and shoes. something like 70% of shoes in the country made in china. people are worried about these global trends and i think we need to look at this jobs report in that context. >> bret: we put this up often in a change in time to time, the real gdp growth is ground. consumer confidence up as is the average hourly earnings. the fed chair today, chuck with some comforting news even though he did lay the cards down about how the rates changes will happe

larry kudlow just talked to the press.raight to the white house for the details on that. tax cuts 2.0. >>> meanwhile, there's a brewing battle over

larry kudlow just talked to the press. we will go straight to the white house for the details on that. tax cuts 2.0. >>> meanwhile, there's a brewing battle over biofuels. it's the refiners versus the farmers in a war over ethanol that has two sets of trump supporters at odds. both sides are here to react the a possible deal. >>> sicybersecurity firm cloudflare, its ipo skyrockets. they are laughing and rightfully so. the ceo matthew prince will be here to tell us how his company has been able to run the wall street ipo gauntlet. less than one hour to the closing bell on this friday, the 13th. i'm ashley webster in for liz claman. let's start "the claman countdown." ashley: but we begin with breaking news. sentencing proceedings under way for actress felicity huffman in federal court in boston. her husband, william h. macy, the actor, is with her as she already pled guilty in may to conspiring to pay $15,000 to a fake charity that essentially facilitated cheating with her daughter taking a college entrance exam. prosecutor

so thank you, larry kudlow. we think we'll make this little announcement to you because important -- the so-called whistle-blower, the one that didn't have any first class or first rate or second tier information from what i understand. you'll have to figure that out for yourself. but i have spoken with leader kevin mccarthy and the republicans, many of them, and we were going to do this any way. but i've informed them -- all of the house members, that i fully support transparency on the so-called whistle-blower information. even though it was supposedly second-hand information. which is sort of interesting. and other things have come out about the whistle-blower that are also maybe even more interesting. but also insist on transparency from joe biden and his son hunter on the millions of dollars that have been quickly and easily taken out of ukraine and china. millions of dollars. millions and millions of dollars taken out very rapidly. while he was vice president. and i think they should have transparency for

we focus in on larry kudlow's comments in our headlines.king about a certain optimism in the wind when it comes to china. let's see if there's any optimism for mark cranfield, who joins us live. let me ask you about what is going on in the repo markets. it is a bit of the money market that rarely gets our attention. it has our attention over the last 40 hours or so. we expect the fed -- 48 hours or so. we expect the fed to act again. is this going to have any impact? >> as long as the fed gets on top of it and start dealing with the day to day issues, it should not have too many repercussions across the markets. it is a major problem for them. the wall street traders have been forced to hold more and more infantry, treasury bonds in particular at the same time that the cash supply in the market has been dwindling. the fed has been reluctant to help them smooth the market because officially, the fed is trying to lower its balance sheet, it's trying to let bonds runoff. they don't want to increase their bond holdings any further. what they di

index is has gone substantially up which was an incredible larry kudlow wherever you may be larry please stand. me just gave me these numbers. and existing new home sales are through the roof just came out. oil prices have gone down ever since the saudi arabia incident and they've gone down very substantially so we have plenty of oil. but those numbers were surprising to larry in the extent of the increase is that a correct statement so thank you larry kudlow. we think we'll make this little announcement to you because important you know the so-called whistleblower the one that didn't have any 1st class or 1st rate or. second tier information from what i understand you have to figure that out for yourself. but i've spoken with leader kevin mccarthy and the republicans many of them. and we're going to do this anyway but i've informed them. all of the house members that i fully support transparency on the so-called whistleblower information even though it was supposedly secondhand information. which is sort of interesting. and other things have come out about the whistleblower that are als

the truth where nancy pelosi is and larry kudlow is.t was projected at 150,000 or 160,000. it's 130,000. if you take away government employment it is under 100,000. it is generally being perceived by a lot of people a lot smarter than me when it comes to markets as an indication that the global slowdown and especially the continuing trade war between the u.s. and china is having an effect. it is not a disaster but it is an especially strong jobs report either. >> bill: sarah sanders earlier today is working with us now. have you heard? she is a fox news contributor. her first appearance right after the jobs number came out earlier today on "fox & friends." >> he has created over 5 million new jobs since becoming president. a lot of those were manufacturing jobs and let's not forget everybody said it couldn't be done. that manufacturing was dead in this country and it couldn't be revived. you needed a magic wand to do it. we found one in president trump and he has waved the magic wand. >> bill: numbers look pretty good at the moments. yo

and kudlow is telling them that the white house plans to unveil a tax cut plan some time next year inot a plan, i'm told, that white house officials expect could pass next year. they're very aware that the speaker of the house is named nancy pelosi and is not likely to pass any legislation that they want to see passed on tax cuts in '20. what this is likely to be is the plan that they call here, tax cuts 2.0 it's going to be a campaign document for the president to run on and to make the case to voters going through the spring and summer of next year, if you re-elect me and a republican majority on capitol hill, then in 2021, here's what we want to do in terms of middle class tax cuts that's the goal of this administration, is to put together a plan that will be compelling for voters, that they can talk about during the course of the year next year. i've talked to aides today here at the white house who say there's no current planning for any kind of new legislation that could pass this year or in 2020. so ultimately, what you're talking about here is a 2021 thing, if the president's

something echoed 45 minutes ago by larry kudlow.ten. >> china is in the commodity markets buying a huge volume of soybeans. i think their soybean imports in the united states have now increased by over 80% against last year. and furthermore they're looking to buy large amounts of pork to cover their domestic problems there. so i would say that mood music if you will is very positive. reporter: still no movement if the chinese will add back any concessions u.s. said they deleted out of the last agreement. president trump says companies are moving supply chain from china like apple announcing that the mac book will be made in texas. neil. neil: i want to get the read and politics behind it with greg valliere, agf chief policy strategist. a lot to get into, greg but i wanted to pick your brain on this slow motion but apparently move motion in the right direction on the china trade talks. if we're to believe what is out there, that the chinese committed to buy more soybeans we haven't seen it in the volume the administration seems to be

the pmi manufacturers index has gone substantially up which was an incredible -- larry kudlow just gave me these numbers, and existing new home sales are through the roof. just came out. oil prices have gone down ever since the saudi arabia incident, and they've gone down very substantially. so we have plenty of oil. but those numbers were surprising to you, larry, and the extent of the increases. is that a correct statement? so thank you, larry kudlow. >> as the president reads through his schedule and gives that media critique, the senate intelligence committee is now also in possession of that whistle-blower complaint at the center of the growing scandal with donald trump and the leader of ukraine, the one that commenced impeachment proceedings and now may see to this whistle-blower's complaint, and maybe the whistle-blower himself before being before congress. go back to the president. >> leader kevin mccarthy and the republicans many of them. and we were going to do this any way, but i've informed them all of the house members that i fully support transparency on the so-called whis

house economic aide larry kudlow speaking with us over the next the hours. risk appetites. three days of gains in asia, 4/10 of 1%, not created equal and it tells you why investors are moving out of defenses. you have your cyclicals on their way up, at least today. down to india, less than an hour from now. the question is, are you guys going to play along today? as the futures, indications of concern, and we are going to open in the green. we must remember that after the sharp drop, the sharp direction we saw last tuesday, we are seeing a little bit of consolidation. that said, there is weakness in the private sector space, specifically banks, and we continue to see foreign totfolio investors continue sell, and that remains a challenge for the following markets. for now, we are expecting a little market consolidation to come through. tesla motors firing a warning. what should be looked -- what should we be looking out for in terms of the indian auto sector? >> more bad news perhaps. auto volumes have been dwindling for the indian automotive sector for the p

i appreciate larry kudlow's optimism. he knows a lot more than i do. i hope that he is right.ve to wish the negotiators well. taylor: talk to me about the next round of tariffs. on september 1, as you mentioned, within the technology sector, you have airpods, a lot of hardware devices that really get the consumer come into effect. december 15, as we know from a retail, holiday, shopping season. what are you looking for from the december 15 tariffs that can hurt the consumer? craig: on december 15, there will be $170 billion worth of imports which will be subject to 15% tariffs. now, that is a lot. it is a lot of imports and a lot of tariffs. it will absolutely have an effect at the till, at the cash register. this will be inflationary. now that is on top of, as you just said, september 1 tariffs. and another round of tariffs coming on october 1. and so this will have an impact on cpi. it will have an impact particularly on lower income americans. a tariff is only a tax, and it happens to be a very regressive tax that affect low income americans more than others. we are about t

taking center stage as larry kudlow sees a softening move, but another advisor says the president could escalate the situation. sterling jumps after jean-claude juncker says that he thinks a brexit deal could be reached by october 30 fourth -- october 31. ♪ matt: good morning from a very busy berlin. we have a office full of reporters who have been here all night long, like the lionel richie song, because the german climate cabinet has been meeting since yesterday and has not been able to come to a decision on the possibility of a carbon tax or extension of the cap and trade system, and has not come to a conclusion about what environmental -- kinds of environmental package that could be in the tens of billions of euros ity wants to present. nejra: it will be interesting to see what that includes, and if angela merkel disappoints. she was criticized when she was environmental minister. it is the number one concern of german voters, and as far as what we could get, there are questions over some kind of extension of the emissions trading scheme, may be moving that to other sectors, and if

larry kudlow says there is a certain optimism on the wind. two sides last met in shanghai in july. >> this is like two parents fighting and the children are, like, hiding, and they are upset. that's the rest of the world. it is slowing trade, but long-term, a potential decoupling of these two giant countries actually results in lower growth for everyone. ka: the world bank says global growth will decline more than estimated with the pile of negative yielding debt indicating expansion will be slower in the coming months. the bank president says the slowdown is broad-based and expansion this year will fall short of its projection of 2.6%. willem marx case threatens to undermine boris johnson -- a landmark case threatens to undermine boris johnson. lawyers watching say it is hard to predict how things will turn out. johnson's legal team did promise to reveal what he would do if he were to lose the case. employing cloud seeding in an attempt to clear thick haze over kuala lumpur and the surrounding regions. six indonesian provinces have declared

larry kudlow making the patient to house republicans that they are retreating, the senior administration these would include tax cuts being extended to expire 2025. we are talking about keeping around the lower marginal tax rate. double while extending personal exemption. he adds that tax cuts 2.0 would help keep the economic expansion going. >> if anything, i think with a global slump, with come to this pretty well. >> kudlow sees something about mid next here on the tax front there. the white house also watching for trade front. in china, two items added to the exemption list for tariffs. pork and soybeans. that coincides with confirmation from the department of agriculture that a large soy bean by has happened from china. the goodwill being felt on both sides of the pacific. >> with china's tariffs, we return favor and that the negotiations are moving along nicely. the president said yesterday, we are always available for the deal. >> the talks start up again next week. the progress that will indicate how well the face-to-face talks and head of the trade talks will grow out. >> while

secretary ross, larry kudlow and ambassador lighthizer just left to go back to d.c. he's working hard on trying to get usmca passed. so we had a lot of productive discussions and the japanese trade deal and a lot of discussions on investing in the u.s. and more jobs in the u.s. and more trade. thank you. president trump: ok. go ahead, please. >> thank you. christina with fox news business and i'll leave it to everybody else to talk about impeachment and the markets reacted positively after you spoke about china and that it would happen sooner rather than unexpectedly, yet you have the foreign minister of china saying they have no intention of, you know, unseating the united states and yet they're investing heavily in infrastructure and military. president trump: not anymore, maybe. >> what is different this time, though, the fact that you're saying it's progressing? president trump: i just think it is progressing. i think they want to make a deal. they're losing their supply chain. >> do you have anything specific? president trump: i don't want to say that, but i can

temporary permit workers are up but when you look at the chief economic adviser larry kudlow, framingeport as a win for the white house. >> america is working in america the economyaid, and is very strong, stronger than the rumor mill media narrative would suggest. these are very strong numbers today. romaine: here to help us dive deeper into that narrative, nick bunker is an economist at in deed hiring lab. when you look at these numbers, it seems to suggest the economy is at least healthy but there is a lot of concern about the slowdown we are seeing in jobs growth. what is the main takeaway? was it a positive report? >> we are seeing a slowdown but let's keep in mind even with private sector, those are above the level we need to keep up with population growth. we are seeing a labor market growing at a fair pace but coming down from the hot 2018. joe: are we to decelerate? is this what a prerecession slow down looks like or is it to premature to say that based on what you are saying was a hot 2018? nick: there is a deceleration. the labor market has lost the mentum. not only are we

peter navarro, larry kudlow.erred to lighthizer and what he thinks of the talks because he's ultimately the one who will brief the president on the status and give him an update on the talks. it is really unclear how far they can advance the agenda. the chinese delegation is going to farm country later this week with sonny perdue, on what he calls "goodwill" with farmers. there will not be any announcement of purchases, but we know that this is one of president trump's top priorities, to get the farmers happy. guy: are we still talking about a partial deal, or back to talking about a full deal? jenny: since we put out our story last week that there is at least some discussion of an offramp for some kind of medium, mini-deal that would include maybe forand ip, and the u.s., giving in on some tariffs and rolling back some tariffs, we have seen a really diverse kind of reaction from the administration. some will say no. others are telling us yes, the president does not want to go to the next tranche of tariffs which

now white house economic advisor larry kudlow does believe that this will -- our economy is what will carry the u.s. through. and he is optimistic we can go back to the deal that we almost had last may. >> we thought we were pretty close. they pulled back. that was a great disappointment. the president then took some tougher actions, and since then, the president has not been satisfied with the progress. but again, as a sharp negotiator, the president keeps saying we must talk. >> and you know, the chinese trade sources say they are optimistic about this also. they do say, though, they want this week to talk about a win-win on how both china and the u.s. can win in this trade deal together. no mention, though, from our trade sources on the chinese side of putting back in any concessions the u.s. said they had moved out. we will have to see, liz, on how this progress goes from today forward, but today and tomorrow are the deputy level talks that set up the main event in early october. liz: okay. the main event, got to wait for that one. we're not waiting for the dow to get worse. it is

so letang you larry kudlow. think we will make this little announcement to you because it is the so-called whistle blower, the one that didn't have any first class, or first rate or second tier information from what i understand. you will have to figure that out for yourself. but i have spoken with leader keith mccarthy and the represents, many of them, and we were going to do this anyway, but i have informed them, all of the house members, that i fully support transparency on the so-called whistle blower information, even though it was supposedly second-hand information, which is sort of interesting. and other things have come out about the whistle blower that are also maybe even more interesting. but also insist on transparency from david jacoby and his son hunter on the millions of dollars that have been quickly and easily taken out of ukraine and china. millions and millions of dollars taken out very rapidly while he was vice president. i think they should have transparency for that. i have informed the lead

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more tariffs, fewer, sooner, or later >>> and later, the president's chief economic adviser larry kudlowoined us with his take on the jobs report lore on that a t more "squawk alley" still ahead, stay with us. >>> what if? that's what anaplan clients and everybody else asking themselves when it comes to tariffs using the company's financial planning software to analyze just how and when tariffs might impact their businesses. national economic council director larry kudlow joined us earlier this morning saying conversations with china on trade have been going well take a listen. >> the phone call night before last between secretary mnuchin and ambassador lighthizer and vice premiere lee yao hey went very well. that's important they have decided now the deputy's level, the deputy's level will continue in washington later this month. and from that deputy's level meeting, will come an agenda and an outline so that the principles will meet in early october >> joining us now on set of post 9 is the chairman and ceo of anaplan, frank calderoni you can give us a look at how this is really affect

larry kudlow is leading these discussions. but there is no doubt these things are related. there is a broader economic war, if you will, that is being waged here by the trump administration. we have seen everything from technology to immigration to chinesevisas to investment in u.s. companies being targeted by the trump administration, or considered as potential targets. this is more of that same gam e. amanda: i don't know if you agree, but the difference to me between a tariff and a limit on capital is a norm us. justify, notould all economists would back you up, but in terms of trade and protecting your industries. this feels like a sanction, something that you would do to some of you were trying to punish, not negotiate with. shawn: at the imf, they would call this a capital control. these are things that the u.s. has actively lobbied in the past. u.s. has been lobbying china to open up its financial markets. shawn donnan, thank you. wonderful reporting. we appreciate your contributions in washington. for more on this, the economic impact of what may happen if this were

so thank you, larry kudlow.e think we'll make this little announcement to you because it is important. the so-called whistle-blower, one that didn't have any first class, or first rate or second-tier information from what i understand. you have to figure that out for yourself but i have spoken with leader kevin mccarthy and the republicans, many of them and we were going to do this anyway but i've informed them, all of the house members that i fully support transparency on the so-called whistle-blower information, even though it was supposedly secondhand information, which is sort of interesting. and other things have come out about the whistle-blower that are also maybe even more interesting. but also insis on transparency from joe biden and his son hunter on the millions of dollars that have been quickly and easily taken out of ukraine and china. millions of dollars, millions an millions of dollars taken out very rapidly while he was vice president. i think they should have transparency for that. i've informed

we will be live with the national economic director larry kudlow at 9:30 eastern. will notwork's be the celebration that the office unicorn once foresaw, targeting valuation far below its last round. this is bloomberg. ♪ . ♪ ipo may not be the celebration at the start of hope for. be company is said to seeking a valuation of about $20 billion to $30 billion when it goes public, less than half the valuation that the unicorn secured from softbank just a few months ago. our senior reporter is here with us with the story. what happened? yft gosaw uber and l public earlier this year. the market saw where they came in. people now looking at wework, projecting ahead, looking at the performance, and maybe early feedback from investment was not what bankers were looking for. that feedback has been conveyed to the company, and now expectations have been lowered. amanda: one of the things that was striking is the perspective, some unusual elements to it. we learned some things about the interdependence of the company's founder, in terms of the businesses inside. does all of t

we speak to lawrence kudlow.n with lawrence kudlow and mohamed el-erian. later, look out for the fed chair, jay powell's speech from the university of zurich. this is bloomberg. ♪ >> rates should not overused. down is to tweak and go certainly very small. if it were to continue more and more negative, banks will have to reflect this on deposits and that will create a big backlash. francine: that was the former ecb vice president speaking exclusively on bloomberg. we are back with davide serra and david -- peter hooper. you have followed the banks for quite some time. which european banks can survive the move? interest ratesg more negative could be a policy mistake. push thel be forced to rights and to climbs. eventually, this will have to pass through. i think eventually the ecb policy will be stopped because it will be revolt in the street. as a result, i don't think they can go further. you need to consider that right now what the european swap curve negative across the term structure, there is a massive timebo

first graph that larry kudlow and i showed donald trump was the congressional budget office showing that the debt is going up every year in the future over the next 20 years. the deficit -- they expected it to go up every year, but not down. this is a long-term problem that we have to deal with. it is the entitlements, i love this idea that trump has talked about but has not been put into effect. i have to do is cut every government spending program by a penny. every dollar they get, you give them $.99. the next year you give them $.98, and you do that for five years and you have cut the deficit in half. cutting five cents out of every dollar the government spends, i think that the government should cut $.25. let us -- let us have spending disciplined -- discipline. host: this is a democrat line, in pikesville. caller: thank you for taking my call. i am glad you have the representative from the heritage foundation because i believe there policies are just out of line and do not make sense at all. thet of all, donald trump russians and chinese a favor by having this tariff war, because al

and larryre kudlow and steven ausualen want to try to find way to get back tok tariffs on $250 bilon on rolling back on items from september and avoiding the escalation later this year before christmas. shington wants to avoid any self-inflicted economic wounds as some cracks appear in u.s. data. some who have e en hard hit, farmers cou get relief. >> we want them to buy agriculture. we view that is a a personal attack on our farmers. they need o agriculture and alys bought our agriculture. this isn't just about soybeans. but we want to sl them soybeans. i want to be clear our farmers and fishermen aremportant t us. >> the terms of the did he taint president haven't beenidgrd on or even presented to president trump but china can't keep boycotting u.s. pork asts hogs are hit by african swine fever. any short-term handshake technology transfers are expeed to continue with white house pfficialsparing for pro tracted negotiation there is. for nightly business report, yla tausche in houston, texas. >>> last night, the u.s. and chrea both ad to have dialed down their trade fht by offering

. >> the trump administration has the mide of next year.tlan by b larry kudlow told reporters today gnatn he dubbed tax cut 29.0. he said it would be aimed at the middle hlass. but did not offer details beyond that. earlier this week w rm t president rejected a proposal to index the capital gains tax for flation saying it would benefit wealth investors too much. >>>h care was a major focus a last night's democratic debate in houst'n. c the candidateshed over how the system should be revamped. making it the most divisive issue of the campaign. >> i think the obamacare worked. i think the way we add to it replace everything that's been cut, add a public option, guarantee that everyone will be able to haveda affe assurance, number one. number two, i think we should be in a position of looking at what costs are. my plan for health care costs a lot of money. c ts $740illion. it costs cost $30 trillion. >> statu quover ten years will be $50 trillion. every study done showshat medicare for all is the most cost effective approach to providing health care to every man, woman a child in this count

index is has gone substantially up which was an incredible larry kudlow wherever you may be larry please stand. me just gave me these numbers. and existing new home sales are. through the roof just came out well pray.

larry kudlow, wherever you may be, please stand up.e numbers existing new home sales are tlut roof oil prices have gone down since the saudi arabia incident and substantially. we have plenty of oil. the extent of the increases, is that a correct statement thank you, larry kudlow. we think we'll make this little announcement to you. the so-called whistleblower, the one that didn't have any first class or first rate or second tier information from what i understand, you'll have to figure that out for yourself, but i have spoken with leader kevin mccarthy and the republicans, many of them. we were going to do this anyway. i've informed them, all of the house members, that i fully support transparency on the so-called whistleblower information, even though it was supposedly secondhand information. which is sort of interesting other things have come out about the whistleblower that are maybe more interesting but also insist on transparency from joe biden and his son, hunter, on the millions of dollars that have been quickly and easily taken

the economic adviser to the white house, larry kudlow, has suggested it may take many years for the unitedd china to resolve their trade war. he told reporters the stakes in the dispute were high, and if it took a decade to sort out, so be it. the world's two biggest economies have been at loggerheads for more than a year. seven south american countries have signed a pact to protect the amazon river basin, the world's largest tropical forest, by co—ordinating their response to disasters. the summit in colombia was called amid global concern over the tens of thousands of fires burning there. the host, president ivan duque, said the establishment of a natural disaster network and a satellite monitoring network would help combat events like widespread fires. eight us states and the district of columbia have launched an anti—trust investigation into facebook. it's in a bid to determine if the social media giant has stifled competition and put users at risk. the investigation wants to determine if facebook endangered consumer data, reduced the quality of consumers‘ choices, or increased the pri

determined to achieve the opposite wayne hay al jazeera hong kong i like how 2nd nomic advisor larry kudlow is warning the trade war with china could take years to resolve. encrease and had a tariffs and recent weeks affecting global markets and supply chains but despite some disruption there are also opportunities for businesses and asia pilot reports from bangkok. with trade negotiations between the world's 2 biggest economies still a work in progress china's close and reliant neighbors are feeling the impact. on the outskirts of bangkok wrote the poem runs a house where a company started by his father the medium sized business is heavily dependent on china factories their supply raw materials wrought upon users to manufacture products for his thai customers the trade war is costing him money but despite that he sees an upside. down i think there's a benefit to be made china may have all the material that i need but here we have skilled labor who know the art and craft we can export our products without going through china or worry about the trade war in one high profile case thailand has

larry kudlow stopping to talk to reporters and talking about the administration's plans for tax cuts next year here's what he said. >> we are going to go through what i call tax cuts 2.0 and i say that because i spoke with the president at some length about this idea we will gather together the best ideas from the hill. we might put something out some time maybe the middle of next year >> so kudlow there saying they're in the idea-gathering stage now. what aides tell me here, this is envisioned for tax cuts 2.0 as a campaign thing for the 2020 campaign the president will go to the campaign trail and make the argument to voters that i cut taxes in my first term if you re-elect me and elect a republican majority on capitol hill, we'll do it again. this time, a massive middle class tax cut will be the focus. the president is, of course, aware that nancy pelosi is the speaker of the house and democrats not likely to pass anything he wants next year. they don't envision this as legislation for 2020 they do say it's something they could work on for 2021 over here at the white house >> eamo