is something that we need to embrace a progrowth, proenvironment, pro-natural resources approach. done that for our entire life now, we make great progress since 1970. we need to work diligently to grow jobs at the local level, be stewards of our air and water at the same time. i know you focused on that for your citizens and i want you to know you got a partner that will work with you in that regard. thank you. [applause] i praise the next couple of days that you have, wonderful discussions with those folks on capitol hill. it's important that they recognize with respect to infrastructure that we do approach this discussion with a more broad-minded view beyond roads. those things are important, water infrastructure is equally important and i'm encouraged that that discussion is ongoing. i look forward to working with you, godspeed in your discussion and welcome to washington dc, thank you very much. [applause] >> this week is sunshine week , an annual campaign for greater public access to government. it's also c-span's anniversary week on march 19, 1979 the house of representativ

we're going to believe again and in a partnership with respect to environmental issues and be progrowth and proenvironment and we can be both. we've been that as nation for many decades old saying that you can't have your cake and eat it too. whoever says that don't know what you do with cake and i think that -- i think as we look at this -- this debate we've had over the last several years, there have been many that say that you can't be progrowth and proenvironment. and i reject that. you can be both and we'll look at that at the epa. >> so i live in houston with drainage problems are a lot of puddling around town all of which recovered by waters of the united states. >> not anymore. >> as i said. >> very important issue and on february 28th day of his address to congress did something monumental and very important with respect to this issue, kevin, as you know the previous administration issued a ruling in 2015 that said dry creek beds, puddles across the country are treated as waters of the united states. now this is going back a little bit to the history of the clean wart act. trad

my feeling is that the 2500 estimate was based on trump getting his progrowth agenda implemented.em is he is firstng so much time on, he had to replace his national security adviser. now he has the sessions recusal. now he has to deal with this accusation that came out of midair. he should be working on legislation. betty: so bottom line, then -- byron: bottom line is i'm getting a little nervous about 2500 but i'm not backing away from it. 2500 sticks. the 4% -- i'm thinking we may not get there. there is too much liquidity sloshing around the world. u.s. interest rates are already a lot higher than europe or japan. i think the rates will maybe get to 3.5 and not 4. betty: what was 4% based on? byron: 4% was based on economic growth getting to 3%, the economy being stronger, creating more inflation, and inflation is a result of wages and house prices. i thought wages are already creeping up. i thought would go up a little. i thought it would be enough inflation and enough demand for capital that rates would go to 4. but i think they won't continue to rise. it will get above 3 but

>> truly, we are in favor of the progrowth initiatives that the administrative has going.e think they could be important to the economy, and it could mean a strong auto economy in the u.s. growing. however, these can take many years to play out. all we are encouraged by these initiatives, we also have to keep in mind that we were planning for the commissions regulations -- emission regulations as they have currently been played out. newsully, it will be good for the auto industry, right now we are planning on the current assumptions we have. >> we know that mark fields has been to the white house to meet with president trump more than once. bill ford, your chairman, is said to be close with the president. two extant did you courtney with the white house in announcing this -- to what extent did you coordinate with the white house in announcing this decision? >> we had reached out to them earlier today to let them know we were making this announcement. we had not reached out to them prior to that. the investment we announced in january in flat rock. mark fields is part of th

probably because of the progrowth agenda. >> do you have any doubt he can follow through?have been watching policies for years and a republican of the house and the senate and 30 plus governors. they have a better chance of getting those things done. i don't know the timetable. the democrats acknowledge that everyone wants good infrastructure. most people like knowledge that it's time to look at the regulatory regime and look at it again and recalibrate and make sure it's conducive to growth and does not hurt small business formation and things like that. >> what is the one question you get asked the most by european, -- clients? is it trump or china? >> how come you won't take our deposits? these are investing clients. it's mostly around the new administration. that's traditional. you have a change of leadership and things will be concerned and interested. around the world, it is mostly about trump. today at lunch, i asked around the table and we did not get to trump until the seventh question. >> what was the first question? ,> a lot about regulatory inclusive capitalism

i would say lastly this attitude we have seen the last several years that we cannot be progrowth and environment is something that we need to embrace a pro- natural resources approach. we've done that as a country for our entire life in my estimation we've made great progress. we need to work diligently to grow jobs at the local level and be good stewards of our air and water at the same time. i know you focus on that for your citizens and i want you to know you have a part or that will work with you in that regard. [applause] i pray that you will have wonderful discussions with those folks on capitol hill. it is very important that they recognize with respect to infrastructure that we do approach this discussion is a more broamore broad-minded viewd the roads and bridges. those things are important and i'm encouraged that discussion is ongoing. i look forward to working with you in your discussion today and welcome to washington, d.c.. thank you very much. [applause] >> washington journal live every day with views and policy issues that impact you coming up tuesday morning, economis

several years that we cannot pro-growth and proenvironment is something that we need to embrace, a progrowtho-environment, pro-natural resources approach. we made great progress since 1970. we need to work diligently to grow jobs at the local level , be good stewards of our air and water at the same time. i know you care about that and focus on that for your citizens. i want you to know you have a partner at the epa that will work with you in that regard. [applause] thank you. i praise the next couple of days that you have, wonderful discussions with those folks on capitol hill. it is very important that they recognize, with respect to infrastructure, that we do approach this discussion with a new broad line view beyond roads and bridges. those things are important. water infrastructure is equally important and i think -- i look forward to working with you. welcome to washington, d.c. thank you very much. [applause] thanks, mayor. announcer: on this week's newsmakers, the chair of the house freedom caucus, mark meadows will talk about his thep's opposition to current gop plan to repeal and r

i thought his progrowth agenda would be good for the economy and for the markets.: you also mentioned that over in europe, one of the surprises was that there could be active discussion about ending the european union. >> right. more discussion than there is now. i do not think it will happen. i am worried about both the french and german elections. betty: do you think we will see a frexit? >> i do not think we will. wins, that would create more danger. she may win the first round. i do not think she will win in the second. i am more worried about angela merkel. i hope that she wins he cut she is the leader of europe. betty: you see a real chance that she could lose her reelection? >> i do. populism put donald trump into office. populism is sweeping europe as well. betty: the vice president of multi-asset management at blackstone. he puts these surprises out every year. last year, he was wrong on most of those including missing the entire rally we saw in stocks. on the flipside, he has turned very bullish this year. yvonne: one from deutsche bank has a 2600 forecas

we have the financial israeli touch everything that is progrowth policy. but its deregulation, tax reform, goes like repatriation and that's good for financials. the technology is agnostic. it has nothing to do with policy. the third inning as infrastructure and that helps industrials. if you think about those three sectors, what you want to avoid is those on surrogates. many go back over the last couple weeks. the rising interest rate you want to avoid that. stay away from the surrogates. nicole: art hogan, market strategist, wonderlich. thank you for sitting in the studio giving us your perspective. it is not out loom and doom. lauren: congressman devin nunes should step down the steps aside for an investigation as the intelligence community rebuild sensitive information on white house grounds and disclose that intelligence agencies had intercepted information about president trumps factor in the train vision. congressman devin nunes on "the o'reilly factor" explaining his reaction. >> or intelligence products they don't have access to in the house of re

now, we think given some of the strong economic data coming out of the u.s., some of the progrowth policiesthe new administration is advocating and hopefully can get through, we are probably looking at a slowdown in the 2019. it has pushed it out a year. we do not think it has been eliminated. where they are right or wrong, but we don't think it has been eliminated. the strength and the optimism and the momentum has probably pushed it out for a year. erik: given what you hear from house,te house, the and congress, how much confidence can you have in the progrowth agenda that the and innt has put forth, particular, some of the policies in which, as they say the devil will be in the details? alex: look, i think we have the broad contours of what some of the main policies are certainly, or goals. if you think about broad tax reform, you think about repatriation, you think about the potential to have a significant amount of spending and infrastructure and deregulation. those are all quite positive for the economy. how much of that, at what time, and what the legislative success i am not an expe

we sent a very progrowth, proenvironment message. today with the president's executive order. >> sean: let me ask. if you listen to the left especially al gore, this is the same al gore that i caught on a gulfstream three. one of the least energy efficient models of private aircraft in the sky. it sleeps 15 or 16. he got into his private limo. he recently suggested that the civil war in syria and brexit are caused by climate change. how do you answer this insanity? >> i think that is a keyword, sean. there has been a lack of common sense. a lack of sanity with respect with how we've done regulations in the last couple years. the environmental protection agency worked with states across the country to advance an environmental agenda that was about clean air and clean water but it also understood that we did not need to be antagonistic toward economic growth and jobs. we have seen a 65% reduction in air pollutants while at the same time, growing and economy. this past it administration made us put on jerseys and made us say if you are

a continuation of the trump trade and the promises trump has been making about a progrowth -- progrowth really mention no details. there is a five day chart of the s&p 500. four days of street -- of small moves and a big spike higher. bothbeing let higher by the banks and energy. this, this ist something else we have, a 1% move higher for the s&p 500. the first time this has happened in 56 days. a breaking of the stalemate to a bullish note, but it is worth noting the last three times this has happened, we had big moves up and down, so it will be interesting to see. the top sectors, construction and engineering, on those infrastructure plans that president trump the rate -- did reiterate, we have lots of these names trading higher, including martin marietta, jacobs engineering. it is worth noting that last said thatio -- axio plan may not come together. david: for more reaction to president trump's address to angress, let's turn to conversation who represents the texas 21st. he has jurisdiction over the epa and the department of energy. he also serves on the judiciary committee and he j

progrowth --th and pro business is there.rats knowledge corporate taxes too high in america. everyone wants infrastructure. people acknowledge it is time to look at the regulatory regime and we look at it and recalibrate and make sure it is conducive to growth and doesn't hurt small business formation and things like that. francine: what is one question you get most asked by your big clients? is it trump or china? jamie: how can you won't take up our deposits. these are investing clients. it is mostly around the new administration. that is traditional. you have a change of leadership, interested,rned, etc. around the world, it is trump. with: jamie dimon speaking francine lacqua. let's talk about markets. a 100% chance of the federal reserve hiking late next week. what could break the markets total certainty? perhaps one thing if at all. the u.s. payrolls number is out and is expected to come into 200,000 jobs created for the economy. a global bond rout deepen with u.s. 10 year hitting its highest level since 2014 and sufferi

the goal is the most progrowth this year. get that tax cut, tax reform bill this year, you still intend to back-date it to january 1st? >> our goal is to do that, to pack the most progrowth punch into this, that means moving the tax date backwards. some elements will occur on the day this bill is signed into law by the president because that will be the most progrowth. stuart: okay, how about capital investments and capital deductions -- >> that's one of the most progrowth provisions here and unprecedented in history. it's going to unleash not only mainstream jobs but it's all about productivity. it's a key element. stuart: kevin brady, chair of house and ways and means committee that we will get a tax reform bill this year. >> yes, sir. stuart: march 29th. [laughter] thank you very much for joining us. >> thank you. stuart: we appreciate it. thank you, sir. the market did not move during that interview even though we are dealing key points. before the brady interview, we are right there now. a couple of individual stocks tha

shortly after the executive order, we'll make sure whatever steps we take in the future will be progrowthnment, but within the framework of the american air act, and it will be legal. kimberly: they called the parents limit agreement -- paris climate agreement "a bad deal" for the u.s. taking a look outside, it is a dreary day, josh. josh: especially after what we got to enjoy yesterday. the good news is, this is just a one-day cooldown. 45 degrees at reagan national. this rate here is the bad guy -- the easterly breeze that allowed us to stay cloudy all day long. we did luck out and did not get too much drizzle, just skies that looked like they wanted to rain all day. 28 degrees cooler right now a d.c., 27 in frederick, leesburg, manassas, everybody with a big change. the thing is, tomorrow, we will see similar numbers. the difference? front of them, so going right back up for tomorrow. the evening, temperatures will be rising, 59 degrees by -- 51 degrees by 9:00. most of us 50 degrees by early tomorrow morning. as you start your day tomorrow, it will be a cool start, but the warmer air

the health-care bill was the litmus test and it was of the backhaul and are we going to get these progrowthicies? >> sure. this is an important question because our key focus is how realistic these key pillars of reform. in australia for example, the difference between success and political paralysis is thin. when i think about u.s. president trump come we are thinking about how he is using political capital wisely. we think the markets are a little intolerant and impatient. everyone knows that the ehealth care bill requires time to mobilize and create advocacy across both sides of the parliament, so we think those issues will take time to move but we think the key pillar that will make a difference, that will be more realistically achievable, is the business friendliness and the smarter reform of the banking sector in will.s., which we think create a lot of credit growth for small businesses who are the lifeblood of the u.s. economy come a so what happened on friday is not a surprise. we feel it was impatiently handled, and these things need to be looked to thoroughly. haidi: doesn't speak

i don't think the positive effects of tax reform -- even a more progrowth tax reform then camp's proposal would be sufficient gains into the economy to justify the increase in deficit through tax reform. >> i don't think that higher taxes can be the solution. if you look at the gap caused by social security and medicare, you would have to be raising taxes to levels that are unfathomable. but america wanted to be on that path -- it must have a consumption path instead. -- tax instead. the first order choice of government is spending and the rest of it is how you pay for it. we really have to have this discussion. we are not having a honest discussion with the american people. >> let's go deeper on dynamic scoring. get into this debate it will be a critical component of scoring and how you adjust. what are the dues and to delight do's and what are the don't of that? we have to think about where that comes from. different taxa changes are very different in their dynamics during effect. affect.ic scoring cuts in him for marginal individual rates below the top rate, not so much. as popular as

they are basically alluding to is that we are going to take it on faith that we are going to get progrowth reforms that lead to better revenue and earnings. because of sentiment and technicals, we will get further multiple expansion, which is still a question. we are fairly high multiples, which you know. they are discounted future growth, but in order to have better gains, that is the missing piece of the puzzle that enters the question of their forecast. jonathan: may be a case of price at narrative for the guys over at bank of america. their target was 2300. we are north of that anyway. a lot of people are chasing their tails. alix: we have not seen equity capitulation. that is still to come if we do get what is delivered from president trump. the day question of courses tax reform. he did not mention border adjustment tax, but he did reference present obama's huge deficit and how much a group. is that a reference that he wants something revenue neutral? shawn: i think his team thinks it's going to be revenue neutral whether it's a big border tax or they use the house republican plan. t

we have a market that is being catalyzed by the trump trade, people buying into progrowth and that stuffr decision-making is done by her pool of information. >> peter, thank you so much. >> great to hear from you both. now, a quarter of a century of fraud. investigators allege that renault's entire investigative team was involved in diesel results. shares have tumbled following the publication of parts of the report in the newspaper. france's economy says it traced fraudulent practices as far back as 1990. the company denied the accusations. brent: the european court of human rights has rolled hungary unlawfully kept two migrants in the transit zone on the frontier with serbia. it could affect hungary's plans to detain people in border camps. the situation of migrants stunk -- stuck in the migrant zone. one boy from afghanistan is coping by making portraits which have won him quite a reputation. >> the work of an artist in the making. at the refugee camp in serbia, all are convinced. he has real talent. they call him little picasso. >> i love painting, i must be a painter. i must be a pa

effectsthink positive of tax reform, even in more progrowth tax reform and chairman camp's proposal would be significant gains for the economy to justify increasing deficits through tax reform at this point. glenn: i don't think that higher taxes can be the solution. if you look at the gap caused by social security, medicare, you would have to be raising taxes ,o levels that are unfathomable at least in the type of tax system we have. if america wants to be on the path, it must have a consumption tax instead. there would be no other way to have growth. the tax debate and budget debate have to be linked. public finance 101, the first order choice of government is to spend. the rest is how you pay for it. taxes today, borrowing. we have to have this discussion and we are not having an honest discussion with the american people about it. michael: let's go deeper on dynamic scoring. it seems if we get into this debate it will be a conflict -- critical component about the scoring and how you adjust. what are the right and wrong ways to do this question mark -- to do this customer glenn: scorin

things seem to be picking up in the trump administration, a very progrowth, deregulatory, cut taxes agendathings are pretty good. matt: does the trump organization look like it is really ready to follow through on the progrowth strategy? timothy: they have to get the rest of the people in place at the subcabinet level and get the affordable care act out of the way. that is an obstacle to getting tax reform done. it is wintertime. matt: i should -- it is going to take time. matt: there have been a lot of complaints from bank ceo's that we are going to hear from at this conference today that the negative interest rate situation is hurting their p&l. what do you expect from the ecb as far as that? timothy: conditions are not quite as robust as the united states, but not that far behind. we are seeing improvements across the continent. we are seeing improvements in lending. we need an up or sloping yield curve here as well. we are heading in the right direction. matt: it is a must like waccamaw. i'm sure you feel like that sometimes. that has one of those picked up pace lately. how do your ceo

>> well, they have to address it when the progrowth policies don't grow. shifting money around, isn't that what we have been doing or at least telling the american people for the last eight years -- >> and now trump is continuing it. >> why do you guys care now because there's a republican in office? >> at least be consistent on what you guys say philosophically. [inaudible] charles: i did hear a lot in the last several years about paying for things and this is a budget that pays for what it's increasing by making changes on the other side. guys, thank you both very much. why bad news for tax reform means bad news for stocks? bob dole is here. he's next. when you have something you love, you want to protect it. at legalzoom, our network of attorneys can help you every step of the way. with an estate plan including wills or a living trust that grows along with you and your family. legalzoom. legal help is here. ...one of many pieces in my life. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a mi

want to reach out to those, hear from them, make informed decisions and do so with a commitment to progrowth and proenvironment. again, we'll see. there is a number of individuals on both sides of the spectrum that have belief that don't want to have that discussion. will see. >> what's been interesting to me about that, is that industries seem more willing to compromise in the environmentalist. there's a lot of oil and gas companies that not only do what they're required to do but while go beyond their environmental regulations require. part of that is because they know if something goes wrong it'll cost them million dollars a day to be shut down and they don't want that but they do genuinely care about doing a good job in being good neighbors. are there ways to encourage industry groups to follow the way they've gone and go beyond what is literally required by the law and taking more a proactive stance that might assuage some of the environmentalist was mark. >> you start out with the perspective as a regulator as a government that you'll have compliance and assistance. you're going to hav

growing concerns president trump progrowth policies are not going to pass. oil is at its lowest since november. u.s. supplies are seeing increasing. billions ofd to put grand into the system after smaller banks missed that debt payments. betty: we have the world covered on "daybreak: asia." how the pboc is intervening while smaller banks struggle with debt. why apple pay has struggled to take a bite out of china. in new york, analysis behind biggest dropd the so far in singapore. we await the latest trade data from japan later. this is "daybreak: asia." i am betty liu in new york. yvonne: it is just after 7:00 a.m. in hong kong. i am yvonne man. drama in the sea. this time, -- drama in d.c. betty: it looks that way. i would be surprised if there was not a carry-on effect at all and as we saw, all the indexes, and that isr by 1% setting up for a day of red in asia. yvonne: risk off. treasuries, gold. new zealand, down 7/10 of 1% right now. we did see earnings come through . the stock being dragged down -- the index down, i should say -- after they cut their i

trump'st need donald progrowth policies to have a nice year in the united states.r, and anything you do get from a progrowth policy perspective is icing on the cake. that could easily get you towards that 3% threshold, and is probably some skepticism in that regard. influence do much domestic economic data points in the united states and federal reserve have on a 10 year rate still? >> much more than they used to. , u.s.le of years ago growth looked ok but risks were toward slower growth. now we have upside risks in the u.s., the so the focus has shifted to upside risks in the u.s., so as a result we believe 2.50 will be hard to hold. jonathan: that depends on whether a market buys decides this is a fed that will preemptively moved to protect the institute of upside risks. wouldt shifts, then you expect the u.s. 10 year to remain pat. would you disagree? >> i would disagree. if you look at the slope of the comparedund the u.s. to anywhere else in the globe, the u.s. curve looks oddly flat. some of these reasons for flat curves like structural stagnation should be m

i don't see this administration, progrowth, they don't look that way by their actions.f they can't get policy instituted over the next few months i think the business leaders which have kissed the ring may think twice about how they're going to deploy the resources. >> let's go the stock that's gone from worst to first. nike surging up this year, making it one of the best performing stocks in 2017. this after they dropped 20 percentage points making it the worst of the dow last year. earnings are next week. there could be more gains ahead. carter, what do you see? >> all this flip-flopping, health care was so bad then it's good this year. energy so good last year and now it's so bad. often there is something to say for mean versus aversion. nike sets up well to my eyes so let's just see at least if i can draw the lines that my eye sees. so i -- here's the 2011 and 2017. the first thing that comes to mind is this. and the second thing that comes to mind is this. well, guess what? we're popping out of the top of that formation. that's a nice set-up. it's a period of massi

this is not a progrowth budget. this is a budget that is anywise , -- penny-wise.or advisor the president obama but putting that aside a lot of the job creation comes from small and medium sized companies, not the big ones. regulation has been perceived as being a real burden on those. do you reject the possibility that by cutting back on the regulation we could get more investment and more job growth and better jobs, higher-paying jobs? >> i think there is room for regulatory reform, i think there is room for streamlining and simplifying regulation, i think there are places where we have worked hard to get the balance right. we were focused on cost-benefit but there were places where we got it wrong, like places our predecessors did. but when you look at eliminating funding for climate research at the stated at department, that has nothing to do with regulation. that has nothing to do with growth. that is about shortchanging our future. alix: you actually put money into work. yesterday the fed changed how it categorizes inflation. it points out that wages haven't

set for a test of whether the trump administration in the president can perform when it comes to progrowths? what does it mean? what i ran the markets, would be doing is i would be thinking about adjusting my assumption in terms of the speed of fiscal policy. i think there's the larger question of what is this actual impact, and howlett play through to real economic activity? of the friday's outcome health care nonvote, the health care situation, suggests that maybe reality is that things will take a little more time, and they will be a little more -- it will be more difficult to impacts thatscal were assumed in the surge of optimism just after the election. jonathan: that was dennis lockhart speaking to our colleague, yvonne man. fed chair janet yellen tomorrow -- aggressively pricing just a month ago, the head of the new york fed. he spoke this week on financial conditions in the conduct of monetary policy. that will be interesting to me, to set :00 as to whether we will get this move. for those that did not factor in fiscal stimulus into their outlook i wonder how vindicated they feel.

lot.ess has jumped a probably because of the progrowth agenda.e: do have any doubt he will be able to follow through? jamie: the republicans have the house, senate, 30 plus of the governorships. they have a better chance of getting those things done. i don't know the exact timetable. the euphoria from the positive growth and proposed businesses there. i have pretty high confidence. everyone wants good infrastructure. most people acknowledge now it is time to look at the regulatory regime and recalibrate and make sure it is both conducive to growth and does not hurt small as this. -- business. francine: what is the question you get asked the most? is it trump or china? jamie: how come you will not take our deposits? [laughter] jamie: how come the cost of rico is so high? it is mostly around the administration. that is traditional. you have a change of leadership, people will be concerned, interested, etc. around the world, it is mostly about trump. today at lunch, i asked, what do you want to talk about, and we do not get to trump until the sevent

probably because of the progrowth agenda. >> do you have any doubt he will be able to follow through?ve been watching politics for years, the governors -- the republicans have the house, the senate, the governorship. i do not know the timetable. i am pretty high confidence. corporate tax rate is too high in america, the reason we don't have infrastructure is because we waste money. it is time to look at the regulatory regime and recalibrate and make sure it is conducive to growth and does not hurt small business formation. >> a lot of european banking ceos are terrified that if donald trump a deregulated wall street too much, you are not on the level playing field. international cooperation is a good thing. while there has been criticism, at the end of the day, steve mnuchin, they will work it out. american banks have far more capital and liquidity. i want the european banks to thrive. if the european banks don't thrive, europe will not thrive. the regulators should look at those things and help the european banks compete and thrive to grow their economies. much more importantly here

whether or not you agree with trump and his pro agenda, progrowth plan, it's a change in policy and prioritiesa. i think that's what wall street is act doing. >> andy: it's not a good address if it fails to mention -- i don't understand. you make a good point on the "who are you wearing" thing, can you imagine the fallout if someone were wearing a foreign designer. >> i have a trump tie that was made in vietnam. >> andy: will edit that out. tom, you said people actually like to know the answer to the question "who are you wearing? " not for politicians. >> tom: there is an idea that we shouldn't ask that anymore because it's demeaning. women love to know what women are wearing. >> andy: wendy's installing a kiosk in a thousand franchises, guy you brought up the fight for $15 thing, but it's inevitable regardless of the rise in minimum wage. >> probably hastened it, a lot of businesses probably wanted to roll it out sooner than they would have, but good point. >> andy: as always, i am in favor of anything that allows me to interact with people less. >> use it all the way over at the news desk f

the progrowth agenda, certain elements of it individually in the power of the combination of fiscal spending, tax reform and deregulation could really drop to the bottom line pretty significant. bringing corporate tax rates down to 20% could add 12% to s&p earnings. there's heavy firepower associated with some of these initiatives. mark: it hasn't happened. it is all talk so far, isn't it? the health care vote later could delay the process. how long do you wait? katie: that is a great question and i do think investors are going to be able to be patient because, at the same time, we are seeing fundamental improvement. we see macro indicators data.ing the hard we are seeing earnings improve come even without the trump bump. a 10% increase in s&p earnings for this year that fundamental improvement and that fundamental tailwind will allow investors to be a bit more patient than they would be in the past. we do think if we don't see some meaningful detail around timing and magnitude around these policies by the mid to end of the summer, you will see some of this optimism faded. u.s. to what exten

probably moderate democrats to come along and the wind would be progrowth.he bully pulpit. he has to a certain extent controlled the agenda, drive the agenda and that's where it comes a bit of a problem. stuart: the legislative schedule as first he fixed upon the care, repeal it, replace it. did you do tax cuts. that's all a popular part of this program. but that program could be delayed significantly because of the political turmoil we are seeing because of his tweet and because of the leaks. the leaks and to tweet are getting in the way of getting america growing again and i don't see what you can do about that. >> well, he walks into the punch little bit by leading off with the border issues and trade with mexico and canada. the two most popular things he wants to do our tax reform program, progrowth tax cut and reforming, replacing, repealing obamacare. he's got the right thing. as outlined in a speech regarding obamacare would've been very popular. you keep portability, preexisting conditions, keep letting people keep their insurance until they are 26,

to modify the boldest provisions they've got there and we want to make sure this works in a very progrowthy. maria: how important is raising revenue while also cutting taxes, congress and? the border adjustment tax is supposed to raise a trillion dollars over 10 years and you already go into this process down a trillion dollars because you don't have those taxes taken out by the health care bill that you wanted. so how do you get revenue moving up? does that mean a border tax definitely in there? >> i believe it's a given anyway. but the revenue is a big part of it. the main reason we have that there is our competitors. they want to make sure there is a level playing field between foreign products and made in america products here as well as abroad. we want to simplify the tax code which is the border adjusted does. it also eliminates any tax incentives to move manufacturing jobs or headquarters overseas. taking that i would have severe consequences. clearly we couldn't leapfrog, nor would we be competitive. we are working on significant modifications to make sure that we face this head, d

, so you've had may be progrowth liquidity. , but ateen inflation the same time, nominal interest rates have not advanced to the same extent that inflation has, but it delivers in real terms a stimulus to global markets. liquidity is extremely strong and you are seeing that not just in the u.s. or europe, but you are seeing it through the emerging markets. loosening of financial conditions in the u.s. despite the fed has raised rates two times since december. how long is that phenomenon going to remain? >> that is a very good question. conditions, that will arise from the strength and the dollar. they have been on a tear since december. conditions you could say have been loosening since the december rate hike and the rate increase last week. that is a real question about how long this will last four. it will be depended on whether trump will be able to enact his agenda. we see an uptick in trade. that is the chart we have shown. >> economic policy uncertainty is high. that is not necessarily a bad thing for markets. it could just be a range of bullish outcomes. it is not always the case

administration is able to get these progrowth reforms through.ticking item being corporate tax reform. we are in a wait and see mode before we decide to revise and thing. -- the our thanks message is, watch out next week when we get the fed rate hike. -- $13.9 billion fund focused on the u.s., canada and mexico. joins me now. no coincidence that you are joining me on international women's day. you are a member at kkr may . explain to us where investor appetite is right now. this is a pilot money you are putting into things like infrastructure. alisa: our investors are looking to private equity to fill the gap of what they are expecting to be somewhat of a compression of returns in either public equities or fixed income. , we are trying to take that capital and find unique opportunities across the market. in the u.s., we cover about seven industry groups. we try to take a top-down and bottoms up approach. we look at the macro trends and what we are seeing from things like the consumer and translate that into unique companies to buy and create valu

is a theme there trump trade is over with and those progrowth policies will not get easy passage throughnd that oriole royal wall street. we are seeing that risk off sentiment transmit to asia. the question of whether or not we should be preparing for the trump correction. black rock saying the reflation trade is down, but not out. taking a look at stocks in hong kong, the hang seng falling 1.3%. h shares on the decline, down 1.6%. stocks in shanghai down .7%, snapping a two day advance. a closer look at one of the stocks today, the world's biggest aluminum maker trading suspended in hong kong, but how their $2018 bonds are faring, falling the most in 18 months, down by more than 2.4 basis points. the company says a made delay its 2016 results as its auditor has flag issues around its accounts. it was the subject of a critical short seller emerson analytics last month. .7%id see shares close up after news of a potential investment by civic asset manager cti. the slew of earnings later this afternoon, let's look at the board to see some stocks in focus. we do have the likes of tencent and

lot i think about policy, a of these more progrowth agenda items should generate inflation.f we think about interest rates as a credit premium and inflation premium, the inflation premium, in theory, should increase, something we have not seen for the better part of the cycle. we think the path of least resistance for rate is up and he range bound behavior you have seen this year is indicative of some of the political uncertainty, not only in the u.s., but globally. thinking about europe as well. nejra: how do you separate the noise and the signals when it comes to the reflation trade? >> a great question, you have a fantastic chart where you can separate the u.s. economic surprise index into it's hard data component, and the survey and business cycle indicators. it shows that the pmi and consumer confidence have gone off to the races. , things have not passed through into the hard data quite as much. we do not think that means it will not happen, there is room for improvement in things like durable goods orders and industrial production. some of the more concrete economic m

after president trump's failure to push through health care reform, will it be in impact on his progrowthgoing forward? that is the question everyone is mulling over today. i leave you with a look at the board as we close. this is bloomberg. ♪ careful joe, they've got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't you sit over here. something for everyone is awesome. find your awesome with the xfinity stream app. more to stream to every screen. thank you so much for that down home welcome. show me female vocalist of the year. thank you so much. thank you so much acm's, i appreciate it. show me acm best moments. i could never have wished for, asked for and dreamt of anything more than this. catch your favorite moments from the acm awards and an exclusive encore performance by kelsea ballerini following the show on xfinity x1. the acm awards. live on sunday, april 2nd 8/7 central on cbs. >> right, hang on. there we go. now, live from london and new york, this is the european close. i'm

a progrowth agenda. they are still counting on it. if it's delayed or derailed, maybe it's a larger problem. today we had a one-day selloff. >> bret: as always, thank you. u.k. is following the united states lena in imposing a ban on certain electronics on a number of international flights. it's all due to new kind of threat targeting aviation. chief intelligence correspondent catherine herridge reports. >> fox news has learned security changes are based on threat streams targeting aviation. enhanced security measures banning electronics larger than the smartphone inside the cabin. a similar action announced by the british government. cameras, e-readers, portable dvd players, laptops, large electronic games must travel in checked luggage. republican chairman told fox more briefings are planned and praised john kelly. >> it is islamic-based terror and he took the right steps to change the procedures at ten major airports based upon the intelligence. >> adam schiff said in a statement "the steps are both necessary and proportional to th

growing concerns president trump progrowth policies are not going to pass. since november. u.s. supplies are seeing increasing. billions ofd to put grand into the system after smaller banks missed that

matt: but did his message fan the progrowth flame needed to continue the current growth rally?rkets are things he is hoping for. >> the public equity market enjoys what the president is talking about. matt: will recent economic growth translates a rate hike? the ides of march is

investors looking for more business friendly progrowth policies from president trump.how does the setback with the administration's health care bill affect the plans to overhaul the tax code and pay for infrastructure improvement. >> you will be tough at this point. it's funny, last week we were talking about everything was going so smoothly, that we were kind of -- at least i was thinking there's got to be some big down day and maybe it turns out there's going to be down week or maybe a few weeks. my premise is based. the rally from the time trump got elected until just a week or so ago was all built on him being able to get things done, change things. the failure of the health care bill to get any progress puts everything into jeopardy. that was just a single issue. you talk about infrastructure, which touches all 50 states, every senator or congressman and then tax reform, which touches every industry. you have to think what are the odds are that getting done. if those don't get done, then your premise for the whole rally since trump got elected are in jeopardy. >>

his team that he is bringing forward, progrowth, sean went through the list of all that's going to beation. think of what he is doing, working the ceos by the dozens ever since he was elected, not waiting until he took the oath of office. he is talking to shipyard workers, talking to coal miners. he is not telling them that we are going to kill your industry, it's building your industry. creating more jobs. also talking about a horizon of possibility of which we have not heard a leader speak for eight years. >> sean: good response. austan? >> we have added 15 million jobs in the last seven years. i hope that donald trump adds them in a faster rate but so far, all he has is vague talk. he doesn't have a tax plan yet. >> sean: why did we add 13 million to the foodstamp roles under obama? >> poverty is down in the last four years as you know. food stamps, we changed the rules of the program. that's not indicative that the economy is worse. >> sean: good have you both. >> it's great to have new leadership. >> sean: george w. bush, we will air more of his interview. we will see another ame

i do not see that is a progrowth action. tom: dr. -- scarlet: dr., you are not in your head. richard: what she points out, because of the crisis, the huge balance sheet in the excess reserves, the fed has said they would like to move back to monetary policy before the crisis, but right now they are raising the rate of interest they will be paying. tom: to the doves out there right now, if we get a rate increase now, taking meeting off, another rate increase in wee, will the world end as know it, and politically the great plutocracy? the answer is no. clarida -- richard: for a long time i have said we need the rate of inflation in real terms. we'rstill talking about accommodative policy. tom: dr. shouting -- jeff -- dr. shelton -- jeff hensing has been in front of changing the model of the fed. gradual andto be speak to people like richard clarida, or see something more abrupt? carefule has to be being too abrupt because the power of financial markets worldwide is pretty sobering, but at the same time, i think there is an opportunity for this adminis

probably because of the progrowth agenda. >> do you have any doubt he will be able to follow through?ve been watching politics for years. the republicans have the house, the senate, 30 plus governorships. they have a better chance of getting those things done. i don't know the exact timetable. the euphoria from the positive growth from pro-business is there. remember, the democrats acknowledged corporate taxes too high in america. they will not waste money because they are against bridges, tunnels, roads. most people acknowledge now that it is time to look at the regulatory regime and recalibrate and make sure it is both conducive to growth and does not hurt small business formation. been speaking to a lot of european banking ceos who are terrified that if donald trump the regulates wall street to much, you are not on o much, you are not on a level playing field with europe. >> while there is criticism, at the end of the day, steve mnuchin and others, they will work out things that make sense for everybody. an un-levelant playing field. i want the european banks to thrive. if the euro