mnuchin: not yet. we've had additional sanctions we have an allowed to do under the executive order, as it relates to financial institutions, it will be on a go forward basis. we are concerned about historical activity. we are monitoring the go forward activity and having ongoing discussions. mr. garrett: we think this will have a big impact? the bank of china will or will not continue to do business with north korea? sec. mnuchin: i don't want to comment on all the specifics, but i have spoken with the governor. mr. garrett: they will or they won't? sec. mnuchin: they made a representation as to what they will do and won't do. we hope and expect they will follow through. mr. garrett: are you discouraged by the trade numbers? not mnuchin: i'm discouraged by anything. i think this president has taken a very different position. i think for too long this has been an issue that has just continued. we have watched it. i think the president made it very clear that the activities with north korea are unaccept

secretary mnuchin: no. we very much appreciate the un security council resolution, and the unanimous support to that. this goes beyond it. reporter: what does this do that you couldn't get done through the security council? secretary mnuchin: again, this allows us to block any financial institution that does not follow through on the u.n. sanctions, or additional sanctions. reporter: when do you expect to make a designation? secretary mnuchin: we do designations on a rolling basis. they obviously start today. this is forward-looking, not backwards-looking. you say moreld about your discussion with the central bank of china? secretary mnuchin: those conversations are confidential, but as i said, i had a very productive conversation this morning. reporter: piggybacking on that -- the timeline of it -- has there been previous negotiations before with the bank of china? secretary mnuchin: no. there were no previous negotiations. the first time we discussed it was early this morning our time. i called it into al

secretary mnuchin: i'm glad to be here with all of you. it has been a very productive week at the united nations. today, the president strengthened, he signed an executive order, that strengthens the u.s. government's ability to cut off funding to the north korean regime, and its weapons development program. despite multiple un security council resolutions, north korean dictator kim jong on continues to threaten the world and his neighbors, with provocative nuclear and missile test. president trump's new executive order significantly expands treasury's authority to target those who enable this regime's economic activity, wherever they are located. for too long, north korea has evaded sanctions, and use the international financial system to facilitate funding for its weapons of mass destruction and ballistic missile programs. should, in any country, be used to facilitate king john owens executive behavior -- kim un's behavior. to anyll suspend access foreign bank that knowingly conducts or facilitates significant actions tied it to trade wi

mnuchin: again, let me be clear. i don't think other sanctions have failed, but these sanctions are very significant. because not only does it allow us to sanction individuals or entities, but it allows us to freeze or block any transactions with any financial institution, anywhere in the world, that facilitates any transactions with the blocked person. reporter: to be clear, do these sanctions include a plan to target north korean companies and individuals around the world? sec. mnuchin: yes, it does. reporter: any plans for future sanctions? sec. mnuchin: again, i will never comment on future sanctions, but we continue to review all options. reporter: does this represent a rejection or moving past the u.n. security council? sec. mnuchin: no. we very much appreciate the u.n. security council resolution, and the unanimous support to that. this goes beyond it. reporter: what does this do that you couldn't get done through the security council? sec. mnuchin: again, this allows us to block any financial institution that

mnuchin: they haven't. we did have sanctions this week that was additional sanctions that we were allowed to do under the executive order. as it relates to financial institutions as i told my counterparts, it will be on a go forward basis. we are monitoring the go forward activity and we are having ongoing discussions. we think this will have a big impact. major garrett: the central bank of china is or is not going forward going to do financial business with north korea? sec. mnuchin: i had very direct conversations with the governor. i don't want to comment on the specifics, but they understand the position -- they came out and made a representation as to what they do and what they want to do and we hope and expect they will follow through on that. major garrett: are you discouraged as general petraeus said he was by the trade numbers? sec. mnuchin: i am not discouraged by anything. i think this president has taken a very different position. for too long this has been an issue that continued. i think the p

how many times do you think mnuchin has to explain to trump he doesn't know batman.i get it, you're protecting his secret identity! i respect that! are you batman?" no, mr. president, i'm naturallen. "am i batman?" sure, sir, if you want to be. matter. these days mnuchin is less interested in producing movies and more interested in producing tax cuts for the wealthy like himself. who will pay for the cuts? mnuchin has you. >> under our growth model also at the treasury, this will pay for itself. again, we may not get full credit for that. there may be short-term impacts on the deficit, but we want to be very careful in paying for this with growth, but we also need to boost the economy. we need tax cuts and tax reform now. >> trevor: it's a lilt -- it's a little bit weird how he moves his mouth, how little he moves his mouth when he talks, like his teeth don't separate. ( laughter ) it's almost like he's the ventriloquist and the dummy at the same time. ( applause ) like, what is going on here? that's how i speak to people. now you might be thinking, trevor, i recogni

steve mnuchin is speaking right now.e been pleased to be here with the president. the president signed an executive order that strengthened the u.s. government possibility to cut off funding to the north korea regime and 11's development program. despite mobile un security -- kim jong-il and continues to threaten the world and his neighbors with provocative nuclear and missile tests. president trump has his new executive order expands thesuries to enable regime's economic and 70. -- too long, north korea sanctions and the international system to facilitate funding for its weapons and mass described -- destruction and missile ballistics programs. no bank in any country should be used to facilitate kim jong-il and passes destructive behavior. new executive order will authorize treasury to impose a range of sanctions so suspending u.s. correspondent account bank thatany foreign knowingly conducts or facilitates significant to northons tied korea. the sanctions will be forward-looking and apply the behavior that occurs today

rejoining is now as treasury secretary steve mnuchin to talk about this. mr.tary, thanks again. >> thank you, chris. >> chris: let's start with the effect of hurricane harvey on the nation's finances. the white house is asking congress for $7.8 billion with immediate aid and another $6.7 billion within weeks ahead of the house of freedom caucus, mark meadows, says he does not want to see that disaster aid tied to a bill to raise the debt limit. can you guarantee him and others that that won't happen? >> no, i can't. quite the contrary. the president and i believe that it should be tied to the harvey funding. our first priority is to make sure that the state gets money that is critical. to do that, we need to make sure we raise the debt limit. if congress appropriates the money, but i don't have the ability to borrow more money and pay for it, we are not going to be able to get that money to the state. we need to put politics aside and we are going to be urging congress to get both of those things done as quickly as they can. >> chris: i just want to make sure

who will mitch mcconnell believe, mnuchin or the ceo? >> mitch mcconnell will go with mnuchin and growth. one because it is sound economic policy. two, he would rather have five more republican senators rather than no additional republican senators in 2018. david: one final word on corporate taxes. a lot of companies left the united states, went to ireland where the corporate tax rate is 12 1/2%. if it only comes down to 20%, will that be enough to motivate those companies moving back here? >> if you go to 20, you stop the hemorrhaging. if you go to 15, i had swiss companies tell me people will move into the united states, not out. i would rather have 15 rather than 20. but 20 stops the bleeding. david: grover norquist, good stuff, appreciate it. melissa. melissa: hurricane irma a monster category 5 storm. it is barreling across the atlantic. we're tracking her path from the weather center as florida dechairs a state of emergency. david: meanwhile obamacare insurers facing a major deadline today, they say will cost americans big time. th

mnuchin also traveled to summer, reportedly for official business at fort knox.er, a watchdog group is trying to determine if the real purpose of that trip was for a better view of the recent eclipse. the next generation of artists will have a new crayon color to bring their imagination to life. and thousands of fans helped name it. take a look at crayola's new shade of blue. the new crayon officially has a name - "blue-tiful." fans voted online and "blue-tiful" was picked out of more than 90-thousand submissions. this new crayon will be available in time for the holiday season. at xx time for weather. toss to eileen - warm and humid days ahead chances - fall arrives a week from today - watching jose & the eastern atlantic today: am patchy fog. mostly sunny to mostly cloudy. isolated shower. highs: 81-85 winds: nw 5 mph tonight: partly to mostly cloudy. patchy fog. lows: 61-67 winds: w 5 mph saturday: partly sunny, warm and humid. isolated afternoon shower. highs: 81-85 winds: n to se 5 mph at a washington school earlier this week. it happened wednesday at a spok

on the mnuchin note, he never followed through with getting this jet for said honeymoon. would a request like that be versus his excu excuse, he wanted a secure comps line? >> this is just unbelievably brazen, and it's consistent with the poor tone from the top that started with the president not selling his financial interests and it's trickled through the white house to the cabinet and below. every government official knows not to request a plane for something like a honeymoon. i mean, that's just basic nuts and bolts, and the fact that he got so far as to put this request in writing means that he ignored the objections that had to have come from every career official around him. it's just unbelievably unheard of. and the explanation he gave is just frankly, weird. i mean, the idea that he needed this communications equipment because he's a member of the national security council, he does need security equipment and he does have special permission to take the plane in the role that he's in, but this was a personal honeymoon and there are other ways to access secure comm

steve mnuchin met with republicans three or four months ago, back in june, and we specifically asked for some kind of long-term reform to raise the debt ceiling. in 2014, only 24 republicans voted for the debt ceiling to be increased. we understand the importance of it. all we are asking is that some reform be attached to it long-term. nearly all of us footage for the relief package on wednesday, but when we start attaching things that drive is deeper into debt time after time, a lot of us have problems with that. >> these issues are not pushed off -- are now pushed off. have you approach negotiations knowing what you know now about how house and senate leadership carries themselves and we are meeting with president trump on chairman do you as the say these are going to be our top pieces to negotiate and what to the next couple of weeks of life? rep. walker: we are going to do the same thing we have done the last several weeks and be --active and spent the thick and specific. -- we haveowed down narrowed it down to 19 reforms. i was disappointed today in the treasury secretary's resp

not to secretary price or mnuchin or e.p.a. administrateor prue ethey violated that straight up. that's why tom price is under federal investigation. it's why the i.g. is investigating treasury secretary mnuchin and now we call for an investigation of secretary ruitt as well. mr. gallego: while you were talking about that, and to see ow easy it is to not need that that, i typed in flights to philadelphia. there's a flight leaving in 46 minutes. the cheapest, i found one for $441. i found another for $447. if you want to connect to philadelphia, which i don't know why you would, jetblue will take you there for $264. so in secretary price's efforts to live an extravagant lifestyle and void himself of common sense he violated, and ethics violation. this is something we consistently see within the trump administration. and on the other flip of that we consistently see a republican-led congress not doing their duty by the constitution of oversight on the executive. not one, not one movement has been done by any republican, especially republican leadership, to push back on this egregio

>> the real big hit, big one, so proud of donald trump and steve mnuchin for sticking to the 15%, that is the kicker to get this economy going and all the other stuff, inductions or exclusion or the top, if you get the 15% you will get a boom. dave: one of the concerns people put out is people don't like it, democrats don't like when rich people get tax cuts but when they do invest money, good for the economy blues the president said for many people in the administration they say is lower rates on the rich, take away their deductions they may end a paying more but that would mean the money they are paying accountants protect i did in the cayman islands will go towards investment and that is good for the economy. >> let me say this clearly. every time we have tax rate reductions on the rich they have paid more in taxes as a share of gdp and a gdp every time we raise tax rates on the rich they have paid less in taxes as a share of gdp and the crash besides. let's not be silly, the rich need incentives like everyone else, warren buffett pays no taxes because the shelters every. dave: cost

treasury secretary steven mnuchin on tax reform. but first gerri willis standing by with news from wall street. gerri: investors feeling the heat after a short but busy news week. hurricane irma barreling through the caribbean claiming at least 23 lives and destroys thousands of homes. the hurricane is on a collision course with south florida. north korea says it detonated a hydrogen bomb. a tough week for investors. the dow, nasdaq and s & p all closing down for the week. equifax the latest victim of a security breach. they say it happened in july of this year. it includes birthdates, addresses within in some cases drivers violence numbers and credit card numbers for 200,000 consumers. they detected the breach a month ago. amazon announced it's looking for a second corporate headquarters in north america. it will provide 50,000 jobs and cost $5 billion. back to you, maria. maria: the market took a hit on north korea fears and quickly stabilized. when yield on corporate bonds are lower than corporate stocks, blankfein said that unne

steve mnuchin is drafting new sanctions against the regime.issouri senator says sanctions may not have the teeth it really needs. >> sanctions without russia and china been interested in solving this problem don't work well. i think the president putting everything on the table is not a bad thing right now, both for north korea and more importantly for china to be thinking about how consequence of this behavior is. >> joining me now is gordon chang, author of nuclear showdown, north korea takes on the world. you called the north korean test earlier this week a belligerent action, what's your analysis of this latest test. >> this is ten times more than the previous test on september 9 of last year. 120 kilotons could very well be the h-bomb they claim. they think the trump administration is in chaos. but they also believe that china is not in a position to respond. you have the chinese ruler heading into the 19th communist party congress. a very sensitive time. they probably believe they can get a way with a lot at this time which is the reason

the requests mnuchin has made for government jets. you'll recall mrs. mnuchin came under fire for social media posts in which she advertised her designer duds. >>> hillary clinton says she didn't realize things weren't going her way until election night. clinton is promoting her new memoir about the 2016 election titled "what happened" appearing on abc's "the view." she put some of the blame for her loss on former fbi director james comey and his letter saying he was re-opening the investigation into her e-mails. >> i would have won but for jim comey's letter on october the 28th. that stopped my momentum, and it really did cause enough people to move away from me. some of them moved to trump. some moved to third parties. some didn't vote, but the net effect was pretty clear. >> president trump reacted on twitter last night saying clinton blames everybody but herself for her loss. he added that she lost the debates and lost her direction. >>> when we come back, visibly shaken, but alive. a shrimper who was caught at sea during irma fin

treasury secretary, steven mnuchin.know you're here to talk about a lot of issues having to do with tax reform and north korea sanctions, et cetera, and wehle get to that in a second. but i want to get your reaction to this. president trump seems to be calling for a boycott to the nfl. and also calling for players who take a knee to be fired or suspended. what's your reaction to what we're seeing at wembley stadium in london right now? >> good morning and great to be here with you. the nfl has all different types of rules. you can haven't stickers on your helmet, you have to have your uniforms tucked in. what the president is saying, and i think the owners should meet, and they should vote on a rule. this is about respect for our military. this is about respect for our first responders. this is not about republicans or democrats. players have the right for free speech off the field. on the field, this is about respect for lots of people. and i don't understand why there's rules that when the dallas cowboys wanted to put

>> reporter: mnuchin's office says they welcome this investigation.ce's office says he uses the private planes in order to accommodate his demanding schedule. they say he has taken commercial flights but you heard the democrats. they are callings hi ta millionaire mind-set too common in this administration. >>> cecelia vega thank you. still much more ahead this friday. the major american company announcing a hiring boom. >>> the hostage situation unfolding inside a bank. several people trapped and s.w.a.t. teams on the scene right now. a new sinkhole. the second one on the same street this week and it is a dangerous scene. >>> amid so much devastation this week, you need to hear the story of frita. the life-saving labrador. we sure need this tonight. much more news ahead. >>> next tonight, your money and life saving labrador. much more news ahead. us. i write them a poem instead! and one for each of you too! that one's actually yours. that one. regardless, we're stuck with the bill. to many, words are the most valuable currency. last i checked, stores

we'll be kicking off the main event with steven mnuchin.us live for a q&a session, all the way around. and we have a lot of ground to cover with him we'll be talking taxes and the impacts of the hurricane in the meantime, joining us is guest host this morning is marc lasry, avenue capital's chairman and ceo and a featured speaker at this morning's conference marc, goork. great to see you. check out the futures at this hour they have been higher. s&p futures up by 3.5 with the s&p at a new record high and the nasdaq up by close to 15 in the meantime, here's what's making headlines this morning. the newly formed dow dupont has announced a split into three different units. businesses totaling $8 billion will be removed. that appears to be at least partially in response to pressure from activist investors. chairman andrew liveris and ed breen will talk about this more live on "squawk on the street" at 9:30 a.m. eastern time. >>> small business confidence registering a slight increase in august the monthly index from the national federation of i

mnuchin later withdrew that request.ll be looking into every request for and use of a government plane by mnuchin. you might remember last month when the couple flew to kentucky in the path of totality where they watched the eclipse from the roof of ft. knox, she posted this picture of herself and mocked a woman on instagram who asked if the government paid for the journey. joining me now is brianna keeler. what is the official explanation, brianna, for why he felt like he needed a government jet to fly him on his honeymoon to dwrurp? >> they're saying basically it was him making sure he could do his job. he asked to use the aircraft on the honeymoon, treasury says there are national security issues, north korea, iran, venezuela, among others, it is imperative he have access to secure communications. in the end the secretary's office determined they could get secured communication capabilities without using a military aircraft so then the request was pulled. it's a let them eat cake moment that comes on the ig is already

. >> treasury secretary steve mnuchin was among those defending the president's remarks.e said the players can have the right to the first amendment off the field. mnuchin added that the league should create and enforce rules to make the players stand for the anthem. oakland catcher bruce maxwell is from a military family. he held his hand to his heart and faced the flag as he knelt. maxwell says he received both support and threats in reaction. >>> nashville police are holding a 25-year-old man after a shooting at a church. one worshipper is dead, seven others injured. it might have been worse if not for the courageous actions of an usher. adrian bankert with more. >> reporter: the small tennessee church ripped apart by a gunman on a deadly shooting rampage. >> the church of christ, people have been shot that location. >> reporter: the first calls came in at 11:15 as the service at burnette church of christ let out. >> this is a level one mass casualty incident. >> reporter: police say the gunman killed one woman in the parking lot, then made his way inside, all the way

it's wrong. >> reporter: but it was just a few weeks after the honeymoon that mnuchin and his wife did fly on a government jet to kentucky on an official trip, where, among other events, they viewed the solar eclipse. she famously posted this photo, adding hash tags for items in her expensive outfit, and this response to critics -- "do you think the u.s. government paid for our honeymoon or personal travel? lol. have you given more to the economy than me and my husband?" mnuchin's wife, louise, is an actress, appearing in this episode of the cbs show "csi," dressed as marie antoinette the french royal best known for saying of starving peasants, "let them eat cake." >> and brian ross live with us tonight. i want to go back to what you reported on the social media comments. did louise linton actually say, "do you think the u.s. government paid for our honeymoon or personal travel? lol." >> reporter: yes, david, she did. and she later apologized. now, the inspector general is taking a look at the circumstances surrounding all of the secretary's travel on government aircraft. david? >> our

as far as steven mnuchin, helicopter or a airplane flight? uest: two different incidents reported for secretary mnuchin. one was a flight from new york otheron military jet, the being use of government plane to around the nox, eclipse for a visit at fort nox, we don't know the cost of the secretary flight. i know of two instances he used government aircraft at large taxpayers. host: how do you get information? how is that information reported? guest: the same regulation specify when charter or government planes can be used has a right to know. there are reporting requirements from the agency to general administration and also xplicit regulation saying the public can file freedom of information act request to get this information. journalists who have done requests and shined light on this, in my opinion, of taxpayer dollars. host: paul seamus ryan with ommon cause talking about government travel by cabinet secretaries and others. numbers, 202-748-8000 for democrats. republicans. for and for all others, independents, 202-748-8002. "washington

secretary mnuchin: senator, yes. thank you for asking a question, which is on one of my favorite subjects and has also been one of the previous secretary's favorite subjects. let me again emphasize that the united states credit is of utmost importance. we are the reserve currency, and we must pay our bills on time. so as i have suggested in the past, based upon our best estimate at the time, we have the funding through september, but i have urged congress to take this up before they leave for the recess. >> let me ask you a couple questions. i wanted to pick up where senator coons left off on the issue of debt ceiling. we are using extraordinary measures. do extraordinary measures have cost to the taxpayer? sec. mnuchin: yes, they do. >> give me a guess as to what they cost the taxpayer when we move past the time period and wait and delay the decision on the action. sec. mnuchin: well, there is a significant cost. it is twofold. the first cost is a real cost, which is right now effectively, as opposed to borrowing in

the house how do you satisfy both sides. >> we have to convince them, by the way, i think second mnuchin is absolutely invite get federal government out of subsidizing this here is simply pitch, maria if you and i make the same amount of money live in exact same value house same kind of car kids go to same kind of schools should not we pay same federal government income income tax the answer is yes if i live in high tax state you live in low tax state you pay more towards federal government than i do not fair not right, so i understand the politics of it but at the same time i think to some very politics good policy and getting rid of this subsidy to the high tax state is really good policy. maria: so you think you will be able to just have some of these governors as well as congressmen look at overall plan say okay maybe this moves needle on economic growth largerly for the country so we are going to put our concerns aside because their constituents are going to be angry that their taxes are going up, governor cuomo tweeted out last night, virtually everybody in new york getting a tax i

secretary mnuchin said he called chinese. how is this not -- especially talked about how china is really the main financial backer. how can this not only be directed at china? on iran, is there a way to talk about, to ramp up iran destabilizing activities drop the middle east, which i think a lot of your allies agree on, without violating the agreements as secretary tillerson said? is there a way to get allies to rally around more terrorism type and other sanctions while keeping the nuclear provisions in place? ambassador haley: with the sanctions on north korea, it only impacts those that continue to do business with north korea. if china does business, it will impact them. there countries in africa, it will impact them. it depends on countries that use to continue to support north korea over the rest of the world that is asking them not to. in reference to iran, you have a couple of processes that take place. on october 15, the president has the decision to make on whether to certify or decertify. that is u.s. law. that has

good thing mnuchin had withdrawn his request.ut if you have a really wealthy friend and he offers to pay for private flights and he stocks the plane as eveian and fruit juice as with senator menendez. those fancy flights along with prosecutors alleging they were part of a quid pro quo with that e wealthy friend, that might land menendez in jail. bottom line unless you're the president or unless you're footing the bill personally, even that back row middle seat might end up causing the least discomfort. that's it for me, i'm jake 2 tapper in washington. >>> hello, everyone, thank you for joining us. happening right now at this hour, kickoff for nine nfl football games across the nation as president trump feeds the firing flames of rhetoric, about the nfl, the nba, and their right to protest and firing players who do so. a powerful show of solidarity and defiance during the american national anthem, players, coaches, staff, kneeling, hands on

>> we have got to up the ante on the economic to include as steve mnuchin said today, cutting off all trade with china. at the same time i would be building up conventional forces in theater right now, primarily in the navy and air force, i would also put nuclear alert, get them to agree we put nuclear alert back on in south korea like when i was with operations for intelligence, i would go quietly, and for the bomber force, wouldn't advertise south korea but went on guam. if those don't send the right signals nothing will. >> the market is expressing concern looking at the dollar chart, the move into safe havens like gold that happened recently and treasury there are some jitters out there partly related to the military efforts we may engage in and you mentioned steve mnuchin, cutting off trade with china, so many analysts on the show. won't happen, we need to be doing business with china as i keep saying over and over, we should be willing to lose a few bucks as opposed to a single life. we have barely scratched the surface in terms of what we can or should be doing from military an

we saw the steve mnuchin blowback. fascinating.hat so you hear this in washington all the time, but donald trump withing this deal democrats has ignited a lot of talk about him being a democratic president. that is not what happened. donald trump has figured out that if he can cut deals with both sides of the il, that is a very different administration he hasorward. once realized that he can give some people what they want, that is much more familiar ground. julia: kevin, come in here. there is the suggestion that look, you've got the house, the senate, the white house, and yet , where is the plant here in terms of policy? why all the secrecy? kevin: i can tell you that for weeks i have been talking to republicans in congress and there he much -- very much behind the scenes they have said that the white house has this engaged. disengaged.been they have been missing in policy , whether it is health care reform or tax reform. what they did this week was essentially say game on. i caught up with a top democrat on the hous

>> reporter: linton apologized, mnuchin reimbursed the government for her travel.thics watchdogs, the da damage was done. >> what that shows us is that there's no sensibility that he's a public servant and that he works for us and that he's going to conserve our money. >> we bought the worst mortgage portfolio in the history of time. >> the former goldman sachs executive and hedge fund manager has long faced critics who said he made a fortune during the recession overseeing home foreclosures. his defense has worked well enough to leave him sitting pretty at the top of the treasury department. >> there is no sign his job is in jeopardy, baa nuut mnuchin h already irritated some with what they call his clumsy handling of the debt ceiling debate. and now as he tries to lead the president's tax reform effort, thiz his steps or distractions or whar you want to call them promise a bumpy right. anderson? >> tom foreman, thanks very much. >>> up next, an update on our breaking news. north korea fires another ballistic missile. we'll tell you where it and went the reaction

mnuchin, by the way, is worth at least $300 million. the treasury officials questioned how it would look if he used a government plane for a personal trip. the mnuchins wound up paying for their own travel but now the inspector general is looking at all of the requests mnuchin has >>> hillary clinton says she didn't realize things weren't going her way until election night. clinton is promoting her new memoir about the 2016 election titled "what happened" appearing on abc's "the view and put some of the blame for her loss on former fbi director james comey and his letter saying he was re-opening the investigation into her e-mails. >> i would have won but for jim comey's letter on october the 28th. that stopped my momentum and it really did cause enough people to move away from me. some of them moved to trump. some moved to third party, some didn't vote. but the net effect was pretty clear. >> and president trump reacted on twitter last night saying clinton blames everybody but herself for her loss. he added that she lost the debates and

mnuchin's optimism, but also shares mr. mnuchin's view that getting the rate down to 15% is going to be a heavy lift. >> i'm optimistic that the worst we'll do in that area is a tax cut. somewhere between 25 and 28%. >> reporter: as for economic growth, ray dalio, who runs bridgewater, the largest hedge fund in the country, says i think so we're in a kind of 2.5% zone for growth. here's why. >> we're probably in a 2.5% growth environment. the real question is to some extent whether you can unleash the productivity by some of the changes that a pro-business environment can produce. i think there was more hope for that. >> reporter: and speaking of growth, jamie dimon of jpmorgan chase says that 2.5% growth, he doesn't view that as a new normal. here's why. >> if we did things right, we would be growing at 3%. but this growth that away had over the last eight years has averaged a little less than 2%. it's half of the normal, okay? a little long recovery. but it's half of what we would have had in a normal recovery. >> reporte