the group is led by blackstone's stephen schwarzman. stin asked about when we can expect to see a plan on tax reform from the white house. stephen: it is very complicated. if the numbers were easy, someone would have printed it and send it to you. to accomplish something in that area, there has to be something taken away. from other people to have the revenue to finance the tax cuts. so, there are a lot of different eas, a lot of people on capitol hill and in the white house and they are all thinking about what the trade-offs are. deliberate,uch more logical approach than trying to pass health care in 17 days. pimm: you spent time with the president more than once. do you come away from this meeting with dozens of optimism? gary cohn said by the end of the calendar year for tax reform. do you have a sense of tax optimism? stephen: i think you will probably have something. it is just a handicap of knowing how comprehensive and aggressive that would be as opposed to just a tax-cut. we will see when we see it david: fair enough. one of the

we were able to speak with stephen schwarzman. let's take a listen. ephen: i think you will probably have something. of knowinga handicap how comprehensive and aggressive that will be as opposed to just a tax-cut. we will see when we see. very detailed. oliver: you look at the ceos in there, who will have the most leverage here? there are some big guys in the white house who are trump's close associates and then, there's corporate guys still in the markets. kevin: there's been discussion of internal fighting within the trump administration. i would make the case that when likeook at both -- folks , they arend powell more closely aligned with the gary cohn's of the world. wilbur ross is in that mix. a moreeems to be centralized version going on. moresolation of nationalistic people like steve bannon. abigail: there is tension ahead of this. vladimir putin is saying that orve seen a variation similar situation to this syria chemical attack before. it was a reason for the u.s. to invade iraq back in 2003. what do you think of that? kevin: this has been a

stephen schwarzman says, take a deep breath. >> it is complicated.numbers were easy, someone would have printed it. this is bloomberg. ♪ ♪ michael: this is "bloomberg best i am michael mckee. janet yellen said the federal reserve should adopt a more neutral policy chance and i'll back its stimulus efforts. to do list,fed's trimming its $4.5 billion balance sheet. interview, they adjusted the need to bring that figure down. trillionof all, $4.5 is higher than anyone thinks it should be, that is number one. number two, if you want to create policy space for the future and at least have the option of doing quantitative easing's in the future, you should get the balance sheet down to a reasonable size today. another aspect, all you have to do is to allow the reinvestment policy to end. then you can gradually run off some of the balance sheet size over time. lumpy,f you think it is if you look at the pictures of what is maturing when and what month, it does look lumpy. but we can manage that and smooth it out in such a way that it declined at a given rate

stephen schwarzman says, take a deep breath. >> it is complicated.numbers were easy, someone would have printed it. michael: this is bloomberg. ♪ [ engine revs ] [ screams ] [ shouting ] brace yourself! this is crazy! [ tires screeching ] whoo! boom baby! rated pg-13. [ screams ] tually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. michael: this is "bloomberg best," i am michael mckee. janet yellen said the federal reserve should adopt a more neutral policy stance and dial back its stimulus efforts. also on the fed's to do list, trimming its $4.5 billion -- $4.5 trillion balance sheet. in an exclusive interview, they -- st. louis fed president jim need totalked about the bring that figure down. >> first of all, $4.5 trillion is higher than

stephen schwarzman says, take a deep breath. >> it is very complicated.the numbers were easy, someone would have printed it. mike: this is bloomberg. ♪ attention homeowners age sixty-two and older. one reverse mortgage has a great way for you to live a better retirement... it's called a reverse mortgage. call rfree information kityour with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home... and here's the best part... you still own yohome. call now! take control of your retirement today! mike: this is "bloomberg best i ." i am michael mckee. janet yellen said the federal reserve should adopt a more neutral policy chance and i'll dial back its stimulus efforts

stephen schwarzman says, take a deep breath. >> it is very complicated. if the numbers were easy, someone would have printed it. mike: this is bloomberg. ? so you're having a party? how nice. i'll be right there. and the butchery begins. what am i gonna wear? this party is super fancy. let's go. i'm ready. are you my uber? [ horn honks ] hold on. don't wait for watchathon week to return. [ doorbell rings ] who's that? show me netflix. sign up for netflix on x1 today and keep watching all year long. mike: this is "bloomberg best i i am michael mckee. janet yellen said the federal reserve should adopt a more neutral policy chance and i'll dial back its stimulus efforts. also on the fed's to do list, trimming its $4.5 billion balance sheet. in an exclusive interview, they jim bullard discussed the need to bring that figure down. >> first of all, $4.5 trillion is higher than anyone thinks it should be, that is number one. number two, if you want to create policy space for the future and at least have the option of doing quantitative easing in the future, you

stephen schwarzman says, "take a deep breath." >> it is very complicated.re easy, somebody just would have printed it and sent it to you. michael: this is bloomberg. ♪ ♪ michael: this is "bloomberg best." i am michael mckee. janet yellen said the federal reserve should adopt a more neutral policy stance and dialback its stimulus efforts. also on the fed's to do list, trimming its $4.5 billion balance sheet. in a nick was a bitter -- in an exclusive interview with bloomberg's daybreak asia u.s. , fed president jim bullard discussed the need to bring that figure down. jim: first of all, $4.5 trillion is higher than anybody thinks it should be, that is number one. number two, if you want to create some policy space for the future and at least have the option of doing quantitative easing in the future, you should start getting the balance sheet down to a reasonable size today. another aspect of this is that all you have to do is to allow the reinvestment policy to end and then you can gradually run off some of the balance sheet size over time. also, if you thin

stephen schwarzman says, "take a deep breath." >> it is very complicated.re easy, somebody just would have printed it and sent it to you. michael: this is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. ways wins. especially in my business. with slow internet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. ♪ michael: this is "bloomberg

stephen schwarzman says, "take a deep breath." >> it is very complicated.were easy, somebody just would have printed it and sent it to you. michael: this is bloomberg. ♪ yousef: look, the poles had said this would be a close race but most people would have expected more of a comfort margin in there. that did not happen. 51.4% in favor of that motion, giving the president the power stay as head of stage. and more importantly, dismissed judges and get back to the leadership of the party. the reaction, let me show you what has been happening in the moment. but first, this is what he said. >> wheel we said we would not now down in front of anybody. citizens, i salute you with my feelings. we became lively and brothers and altogether, we became turkey. on alled together different fronts. against all of these, my nation stood tall. here and abroad, you exploded the polls. yousef: let me show you how the lira has been react into the story. we got the first indication and then the rally materializing. we saw some strengthening in the lira-dollar trade. that is anot

ramy: that was blackstone founder and ceo stephen schwarzman.g up, the fed is the key to cut policies. bond goals do not seem to care. this is bloomberg. ♪ a.m. -- shery: it is 7:30 in hong kong. we are 30 minutes away from asia's first market open. ramy: it is 7:30 p.m. tuesday here in new york on a gorgeous, slightly cap -- slightly cloudy evening. markets closed about 1/10 of 1%. aboute been talking geopolitical risks around the world from north asia as well as area, most recently. senator john mccain and lindsey graham coming out saying they do support military action in syria. we have to see how that develops in the region. i am a ramy inocencio in new york. shery: i am shery ahn in new york area you are watching "daybreak asia." let's get first word news. unitedakers want airlines to explain why they dragged a passenger off the plane into cargo. they are trying to contain damage after mobile phones videotaping it went viral. issued a second apology to describe what happened is truly horrific. they recovered somewhat by the close. saudi ara

when we come back, blackstone group ceo stephen schwarzman live from the white house in that meetingith the president and a number of other top ceos at the white house today. first, rick santelli, what are you watching today? >> heck, i'm looking at a 231 yield in 10s. today could be the day we create a new low closing yield for 2017. currently it's from last week at 2.32. we'll discuss some of those cool comments mark olson made earlier in the day on "the santelli exchange." i hit my head on a pole. tune in after the break, i'll see if i'm still around. so you're having a party? how nice. i'll be right there. and the butchery begins. what am i gonna wear? this party is super fancy. let's go. i'm ready. are you my uber? [ horn honks ] hold on. don't wait for watchathon week to return. [ doorbell rings ] who's that? show me netflix. sign up for netflix on x1 today and keep watching all year long. >>> whole foods is under pressure. we'll have new details on what could happen next. plus, the united fallout. shares are sharply lower today as the pr nightmare for the airline continues and

stephen schwarzman has spoken with bloomberg television today.ore highlights -- more highlights later. let's look at where the major averages stand as we head toward the close. taylor riggs is standing by. taylor: the s&p and the dow were down at one point in the day .6%. coming up, a bright spot in an otherwise red day. really leading things lower, concerns over really taking a drive down on technology stocks. look outside those stocks, it is financials p are we are taking a look at earnings, wells -- financials. we are taking a look at earnings. million club back of bonuses, from that fake account scandal. also to others i am at, citigroup and jpmorgan reporting earnings on thursday. most analysts are saying they should do better. we are seeing a big reflation and yields. that is not necessarily the case. chart,e a look at this we are looking at yields and we have seen a lot of consolidation around here. if the yields move of us, we could continue to see it move higher. maybe you're looking back at it dipped town lower. a lot of uncertainty tak

coming up later, david will interview stephen schwarzman.t the meeting with president trump? this is bloomberg. ♪ emma: this is bloomberg daybreak. toshiba is continuing as a going concern. the company reported third-quarter earnings after missing two deadlines. they still have not signed off. a loss for the nine months in december. they lost billions of dollars in its westinghouse nuclear power business. in chicago, one of the security officer dragged passenger off a flight has been suspended. authorities say there will be an investigation. ceon internal message, the said the passenger was being disruptive and belligerent after being asked to leave the plane. down 6% today in premarket trading. that is your bloomberg business flash. jonathan: jonathan: staying on i want to ask you about this specific case. when you are a big shareholder in a big company and the ceo responds in a way that doesn't take responsibility, how does the investor mentality change toward the sea suite. do they make the changes they need to make? bob: it's been a publ

coming up at 12:00 new york times, david westin will be speaking with stephen schwarzman after he meetsesident. the u.s. secretary of state rex tillerson just arriving in russia, set to be in for some tough talks about the u.s. initial launch -- missile launch against syria last week. allerson continued to hold hard line about russia's role in syria. >> to have aligned themselves with an unreliable partner in bashar al-assad. they signed the chemical weapons accord themselves. the russian government sign that accord and now assad has made the russians look not so good. mark: joining us on tillerson's challenges, john fraher. he clearly has a message and it is a clear message, you are aligning yourself with an unreliable partner. how open is russia to this commentary which is backed up by the u.s. and european allies? ton: russia is not very open public criticism from g7 countries. there is evidence that suggests this will not be different. the foreign minister earlier on saying the u.s. was obviously making no effort whatsoever to improve u.s.-russia relations so tillerson meeting with

much of this is due to the fact that the president has been surrounding himself by people like stephen schwarzman, for example? he has investment from the chinese government in blackstone, has a lot of business interests in china. is he listening more to business people rather than to political strategists? michelle: that may be true, he has a lot of business people around him saying let's dial it back a bit. when you look at the campaign rhetoric, some of these are big moves that can rattle not only economies but businesses and markets. they want to see more stability. this was a move to say we are not going to do currency manipulation, at least not now, because that touches a third rail in u.s. politics. he also has other signs of bringing on more moderate economist. chairally saw a cea nomination in kevin hatchett, which brings more moderate republican tendencies to the white house. michelle, thanks for bringing it down for us. i think you cannot count steve bannon out, but i think peter navarro is on the sidelines. we will see. pimm: also being president can change a person, different from be

>> i want to thank everyone involved in the partnership for new york city, michael corbett, stephen schwarzmanan honor to have the leaders gathered in the room here with us today. i know the president is on his way over and it is my great religious morning to share a few thoughts in the midst of this important conversation on the before iu are covering get it friend and the 45th president of the united states. let me say first and foremost the company's representative in the partnership for new york city are all-american success stories. you have our admiration, our appreciation. your businesses account for more than 7 million jobs and you had over $1 trillion to our economy each and every year. what is more important is the people behind the numbers and the topics that you have covered today are all about creating more jobs and more opportunities for americans who are anxious to inmb the ladder of success the organization to represent, companies all across this country. foremost, on behalf of the president and the whole team you heard from this morning, distinguished members of our cabinet, t

blackstone chief executive stephen schwarzman telling bloomberg what he got out of the talks.e from that interview, plus 11:30 u.k., we speak to the imf managing director, christine lagarde. ♪ mark: i am mark barton in london. here is sebastian salek. seb: the ceo of united airlines with a second apology after a passenger was dragged off a plane in chicago. oscar munoz described what happened as truly horrific, following a huge social media backlash and they slumped to the company share price. the u.s. department of transport says it has begun an initial review into the incident. first-quarter profit at daimler almost doubled, did by surging demand former cities cars. earnings before interest and taxes climbed to 4 billion euros. timeline has been reaping the benefit of a revamp to its product lineup, with an expansion of its suv's. autoa is warning the u.s. market has peaked and will shrink this year, despite unprecedented incentives to attract buyers. it says industrywide delivery 17.5all from a record million. total u.s. auto sales declined in each of the first three months

david westin asked stephen schwarzman, when you expect a plan from the administration on tax reform? because his is very complicated. if the number was easy someone would print it and send it to you, but to accomplish some thing in that area, there has to be something taken away from other people to have the revenue to finance the tax cuts, and there are a lot of different ideas, a lot of different people both on capitol hill as well as in the white house and they are all thinking about what the trade-offs are. so i expect a much more approach thanical trying to pass health care in 17 days. >> you have spent time with the president more than once. do you come away with a sense of optimism? we talked with gary on friday and he said the end of the calendar year for tax reform. do you have a sense of confidence by the end of the calendar year we will have some tax reform? >> you will probably have something. it is just a handicap of knowing how comprehensive and aggressive that would be as opposed to just a tax cut. so we will see when we see. us, francescoth gazarelli. if there islier

david: that was like stone group's chairman, ceo and cofounder stephen schwarzman.hite house is really managing expectations now. we have gone from big, bold fast. we don't want to make a same mistake we made with health care. jon: speak to the investor, most of them will say that the important composition of this package is when they get done in august. that is not what matters. to achieve the essential composition they want to achieve they got to get health care done. that is going to be the big issue. alix: in terms of actual numbers, when you talk to investor participants and private equity, big names like roger altman, they don't say it is the number that matters. 28-15% corporate tax rate, it doesn't matter. what matters is they get it done. david: also they want some fundamental reform. jon: tax cuts the easy stuff, reform is that is where it gets difficult. up next is larry summers, the former u.s. treasury secretary. right here in new york. you are watching bloomberg. ♪ tellsan: president xi president trump north korea must be solved by dialogue. geopolitic

we will be having a conversation with stephen schwarzman., 5:00 p.m. in london. this is bloomberg. ♪ taylor: this is "bloomberg surveillance." of the security officers who dragged a passenger off a united airlines flight that was overbooked has been suspended. authorities say there will be an investigation. meanwhile, in an internal message sent to the united employs come the ceo said the passenger was being disruptive and belligerent after being asked to leave the plane. in hollywood, screenwriters are threatening to go on strike next month. back across the entertainment industry billions of dollars and take popular tv shows off the air. the writers guild says payments has not kept up with the digital revolution. hollywood producers say the union is making too many demands. that is your bloomberg business flash. francine: thank you so much. wells fargo has rehired about 1000 employees fired during the fake account scandal. the workers lost their jobs after struggling to reach sales targets. wells fargo board blamed former senior executives.

meeting with ceos head of the white house economic advisory group blackstone chairman and ceo stephen schw z schwarzman forward to that. >>> earnings season is going to kick off this week, with goldman sac's chief economist david kostin will talk with us. tax reform, and a lot more. we'll take you to washington as soon as that begins. "squawk on the street" is back after this. >>> concerns over geopolitical market risks keeping the markets on edge as earnings season kicks off this week. david kostin goldman's chief equity strategist and joins us here at post nine. >> nice to see you.. >> thanks for joining us. you've made a great call so far, you argued that march would have been, would be the point of maximum optimism. >> right. >> a lot of people argue it feels that way. do you think you're right? were you right? >> i believe. we hit peak around 2,300 for the year in the first quarter and that was where we were march the 1st and most likely will be fading towards 2,300 level for the s&p 500 at the end of the year. basically in that sort of range right now and if we think about the structural way to t