shai akabas, so good to talk to you on the programme this week.hat interest rates may not be falling as quickly as people had anticipated, it may be stronger for as people had anticipated, it may be strongerfor a bit longer as people had anticipated, it may be stronger for a bit longer and that is all sorts of implications and d feel that the white house is concerned about the implications of you believe the rhetoric, it's america first?— you believe the rhetoric, it's america first? _, , , america first? recognise the impacts and the decisions _ america first? recognise the impacts and the decisions that _ america first? recognise the impacts and the decisions that we _ america first? recognise the impacts and the decisions that we make - america first? recognise the impacts and the decisions that we make in . america first? recognise the impacts and the decisions that we make in a i and the decisions that we make in a strong dollar can have significant impacts on countries that are in us currency and if we are having an impact on the us dollar t

shai akabas, welcome to the programme. and let me start with what we know so far. to the economy? because we know he said he wants to cut taxes, so therefore the government will earn less in revenue. but at the same time, he says he'll spend less. so therefore the numbers add up. is it that simple? so, we have had a long—standing fiscal problem in the united - states. this year, the big item - on the agenda is tax policy. that's one of the top items - for president trump as he comes into office, and republicans . in congress, because the 2017 tax cuts and jobs act, i which were passed during the first year of president trump's first term, much| of that is set to expire. and if it does, tax rates - would go up across the board. republicans do not want to let that happen. - so they are already starting. the process of figuring out how they are going to extend much or all of those tax cuts. - what's really important here, though, is the fiscal- impact of this. if it is extended, unpaid for, for the full decade, - that could be a cost. of $4.5 trillion added to the nat