steve mnuchin. , mike. steve mnuchin. steve, thank you very much. wilbur ross. alex acosta.whittaker. ben carson. betsy devos. administrator linda mcmahon. ambassador lighthizer. and acting administrator who i will tell you is going to be made permanent, he's done a fantastic job, i want to congratulate him, e.p.a. andrew wheeler. congratulations andrew, great job. thank you very much. [applause] thank you as well to senator amy klobuchar for being here. where is amy, by the way? where is amy? for five decades i have to say the presidential medal of freedom has been given to individuals who have made outstanding contributions to american life and culture. this year it is my true privilege to award this honor to seven extraordinary americans. senator orrin hatch, the late, great justice antonin scalia, miriam adelson. roger staubach. allen paige and two more recipients who are no longer with us, but whose legacies will live on forever, legendary babe ruth, legendary elvis presley. true legends. the first recipient is one of the longest-serving senators in american history a g

secretary steve mnuchin. i am extremely happy and proud of the gun being done by u.s. secretary steve mnuchin. the fake news likes to write stories to the contrary, kwoeth phony stories or jealous people. but they aren't true. they never like to ask me for a quote because it would kill their story. hmm, that's not what people are saying inside the trump administration. they are blameing mnuchin for the appointment of raising the interest rates and not being more supportive of his trade war threats. he's reportedly wondered aloud with advisers whether trump should have appointed someone else. what's the latest? >> reporter: the president's frustration with treasury secretary steve mnuchin is the latest in a slew the president has reportedly grown dissatisfied with. cnn reported he has grown to lose faith why his homeland secretary kristen nielsen. again, he's wondered whether chief of staff kelly is a good fit. his frustration with the federal reserve and the decision to raise interest rates several times, tha

. >> the president just tweeted about a member of his cabinet, steve mnuchin saying i am happy of the done by steve mnuchin but fake news likes to write stories to the contrary, quoting forney -- phony sources are jealous people. they never ask me for a quote because it would kill their story. we had these from brett talking about comings and goings from the cabinet so what about this? >> the president doesn't hold to one view on many issues but we come up to this g 20 summit, it is an alliance that the possibility to deal with at last in the market. >> this raises the problem that if he tries to get rid of people and looks to replace them, who would really want to be in a position that is so unstable you never know what is coming in next. >> and fighting on the china side. steve mnuchin is leading toward a deal as opposed to the bob lighthouses are more hawkish when it comes to china trade. >> winners and losers. >> two of close friends of mine and my goddaughter, their daughter vivian. i don't have kids but i do my best with her and as luther of the week it is a hard-line brexiters,

our friend see our friend steve mnuchin say something tough will help a let. >> i understand the psychology we get beyond the simple framework. i think we'll get a deal one way or the other. we always appreciate it. >> that is the phrase. [speaking chinese] charles: i will work on it, i have nothing else it do this weekend. >> thanks a lot. charles: later in the show we'll talk about boring, you know, how about just investing in a boring way? it can actually become extraordinarily rich. i have the story of the jcpenney janitor, ronald reed, he was able to leave $8 million behind because he did this. this year we're seeing this kind of thing happen. also could next year be a record-breaking year? jpmorgan chase ceo jamie dimon thinks so. that is next. >> 2019, i think imf was in both of those, may be one of the fastest global growth years on record. ♪ charles: well it is becoming a tale of two economies. on one hand the american economy just absolutely rockin'ing, going gangbusters. growth on track to grow in fact through next year. president trump so far some are saying this is the most shi

. >> and the president just tweeted about a member of his cabinet, steve mnuchin, "fake news likes toor the contrary quoting funny stories from jealous people, they never like to ask me for a court because it would kill their story." we've asked about comings and goings, what about this? >> the president doesn't necessarily hold to one view, as we come to this g20 summit with the chinese, it's obviously an alliance of some kind of framework deal that won't last but perhaps with the markets. >> this raises the problem that if he tries to get rid of people and looks to replace them who would really want to be in a position where it's so unstable and you can never know what's coming next? >> there's infighting on the china side, steve mnuchin has been leading toward a deal as opposed to peter navarro and bob lighthouse or who was much more hawkish. >> mike: winners and losers. >> my winner is my goddaughter who is on the screen. i don't have kids yet but i give my best with her. as a loser of the week, it's the hard-line brexit people who were confident they would overthrow theresa may b

steve mnuchin.re a china hand. i'm a political hand. and i just -- it's really straightforward. look who was conciliatory with the chinese and the trade talks leading up to what was the president's decision if they're going to ignore him, you know, mnuchin wasn't exactly direct and clear. he was a little ambiguous in his discussions with the chinese. and the result was they didn't do a damn thing because they didn't think the president was serious. that's goldman sachs style. >> i tell the story in "hundred year marathon" of 1993 when bill clinton started out really against china and nancy pelosi was with him, half of the congress, both houses really started legislation against china. but the chinese split the cabinet and they brought the treasury secretary, robert ruben, brought them over -- lou: did you say goldman sachs again? i'm sorry. >> in this case it was citi corp. >> it was citi corp afterwards. it was also the ceo of goldman sachs. you don't want to miss a goldman sachs opportunity like t

we had a big announcement this mike pompeo and steve mnuchin about iranian sanctions. is the u.s. pulling back by giving waivers? >> that has been the criticism pompeo,ht of secretary particularly john bolton, who washed his hands of this thing and said he did not want to participate in the rollouts of the sanctions. from the perspective of the state department, they are trying to thread a needle. they want to constrain iran and tonight revenue, but they do not want a spike in oil prices, particularly with the midterms just a day away. they have said they have been able to achieve that. the price of oil is steady and continues to fall from where it was in may. they say that is giving them the advantage and the momentum. looking ahead 180 days, when these oil waivers have to be reviewed, they say they will expect additional cuts. david: under president obama there were restrictions on iranian oil yet they got renewed automatically. is a thought they will taper down cannot be an automatic renewal? ck: that is the big question we are trying to answer. the administration has been fake

thank you as well to jared kushner, secretary of state mike pompeo, secretary of the reasury steve mnuchin, and irector larry kudlow for their hard work and untiring devotion throughout the negotiation process. peter navarro, thank you for the work you have put in. and so many others. the usmca is the largest and most significant modern and balanced trade agreement in history. all of our countries will benefit greatly. it is probably the largest trade deal ever made also. in the united states the new trade pact will support high-praying manufacturing jobs and promote greater access for american exports across the range of sectors, including our farming, manufacturing, and service industries. as part of our agreement, the united states will be able to lock in our market access to canada and mexico and greatly expand our agricultural exports, something we have been wanting to do for many years. this is an amazing deal for our farmers and also allows them to use cutting-edge, biotechnology. our nations have also agreed to innovate new measures to ensure fair competition and promote high wages

he said i am extremely happy and proud of the job being done by steve mnuchin. but fake news likes to write stories to the contrary courting funny sources or jealous people. but they are not true. they never liked asked me for a quote - because it would kill their story. the president said he planned on interviewing some folks for a couple or a few positions in his administration. but he did not elaborate as to which positions he was interviewing for. jon: more intrigue ahead. thank you. a major development in the russia probe as jerome corsi, an associate of rajasthan and longtime alley of the president says he's discussing a possible plea deal with special counsel robert mueller. here is a former deputy assistant attorney general bob driscoll and what this could mean for the mueller investigation. >> it does seem like it is coming down to the end come the top would be donald trump he submitted his questions, it looks like it should be winding up and no one -- absent this all along, unless we see more than we have seen publicly. there's always a chance for some

secretary steve mnuchin.d of the gun being done by u.s. secretary steve mnuchin. the fake news likes to write stories to the contrary, kwoeth phony stories or jealous people. but they aren't true. they never like to ask me for a quote because it would kill their story. hmm, that's not what people are saying inside the trump

last week steve mnuchin announced iran had developed an iran-russian network to send oil to syria. this is used to fund terrorist organizations like hezbollah and hamas. the undersecretary for terrorism and financial intelligence explained, quote, the iranian regime continues to prioritize spending on money to foment terror over supporting its own people. president trump has made correct decisions to impose sanctions on individuals related to this scheme as he continues to fulfill promises made, promises kept. in conclusion, god bless our troops and we will never forget september 11 and the global war on terrorism. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from arkansas seek recognition? >> i ask unanimous consent to address the house for one minute and to revise and extend. the speaker pro tempore: without objection, the gentleman is recognized for one minute. >> thank you, mr. speaker. i rise today to honor the 50th wedding anniversary of my good friends, woody and linda, who people who are true examples of commitment to the covenant

kudlow says trump and president xi of china will talk trade at the g20 while treasury secretary steve mnuchin and the chinese vice premier already resumed discussions about a possible trade deal. that would obviously ease trade tensions. to break it down, money map press chief technical strategist, d.r. barton. lindsey bell, janney montgomery scott chief investment strategist, march luschini. mark, let me start with you. a week or so larry kudlow talked about there was no talks, the chinese have been unresponsive, the market was down a lot more than it is up today. is there just more skepticism setting? what is going on? >> charles, i think it is. it was less than a week ago you had both larry kudlow and president trump stating die met particularly opposed statements whether trade talks were occurring. there is a very amount of skepticism. a show me situation with regard to trade. we've been teased before by discussions that ultimately lead to nothing f we get resolution around trade, subsequent to the discussions or president trump meeting with president xi in buenos aires i think the 150 po

having said that, mike pompeo and steve mnuchin mentioned that a jurisdictions -- this is what -- eight jurisdictions are getting waivers. there is reporting that they are iraq, turkey and south korea. they are getting waivers and trying to do oil trays with iran. the money that iran would get from this has to be imposed in a specific bank account. phil: the u.s. midterm elections are on tuesday, november 6. the time seems more than coincidental. >> yes. of course, this can be alleged that the timing is geared toward midterm elections coming to us on tuesday, the sixth. that is right. we can't prove this but of course there is a benefit for the president and for donald trump and for the republicans. if they can show that they are keeping a promise and the promise was to leave the e iran nuclear deal and to reimpose the sanctions, this is a day before the midterm elections. they are doing a fair bit for the clientele and all people who are convinced to elect republicans in the midterm elections. phil: thank you. the president is having a busy day. he said the army could fire on migrants

the auction block coming up with treasury secretary steve mnuchin. the treasury set a record for issuance levels. this is "bloomberg real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." the u.s. treasury releasing its funding plan and more treasuries are coming. that sales last -- a ballooning budget shortfall. issuance to $83 billion. u.s. corporate bond issuers have their worst month. sales totaling $4.3 billion. it failed to drum up much interest. this is the first time this is happened for a deal since september. hainesville failed to attract enough demand. still with me is andrew chorlton , nick wadhams --noelle corum and thomas atteberry. we are seeing a little bit of a breakdown or something to be concerned about? noelle: it is not quite something to be concerned about just yet. as i said earlier, we expect 2.8 into the first half of next year. the second half a little more uncertain but the thing that we are really trying to always go back to is growth is healthy. geton't need 3% growth to companies to be healthy. tha

firing back at "wall street journal" report saying is he dissatisfied with treasury secretary steve mnuchinifically about mnuchin's push to appoint a federal reserve chair who has been raises interest rates. the president trying to shoot it down in a tweet just moments ago saying, in part, quote: i am extremely happy and proud of the job being done by the treasury secretary, steve mnuchin. the fake news likes to write stories to the contrary, quoting phony sources or jealous people, but they are not true. they never like to ask me for a quote, because it would kill the story. one of the many tasks on mnuchin's radar involves dealing with the national debt, something my next guest warns in a new fox news op-ed could be a ticking time bomb thanks to entitlement spending. brad blakeman former deputy assistant to president george w. bush he joins me now. good evening,. >> hi, ed. >> ed: you say a lot of former obama officials who like to point the finger at president trump. they forget an important point that you make a number of people using medicaid right now has exploded the last couple of y

iranian sanctions will be running front and center with steve mnuchin at 8:30.time for the morning brief. at midnight last night, those u.s. sanctions on iran oil went into effect. mike pompeo and steven mnuchin are going to talk about which countries got waivers in the end. on tuesday, voters will be electing congressman and a third of their senators depending on -- determining which party will control congress for the next two years. also on tuesday, the bloomberg new economy forum gets underway in singapore. over the course of the week, the u.s. treasury is going to auction off $83 billion in notes and bonds, another record. let's get an update on what is making up -- what is making news outside the business world. emma chandra is here with "first word news." emma: president trump has rallies in ohio, pennsylvania and missouri. thee are no guarantees and party gap has narrowed in recent weeks. those u.s. sanctions on iranian oil sales lifted in 2015 as part of the nuclear agreement are now back in place. president trump is a filling his promise to increase pr

coming up, the auction block coming up with treasury secretary steve mnuchin. and the u.s. treasury set a record for issuance levels. a big slate of auctions coming up next week. this is "bloomberg real yield." ♪ i'm jonathan ferro. this is "bloomberg real yield." the u.s. treasury releasing its funding plan and more treasuries are coming. debt sales will surpass levels last seen during the financial crisis. a ballooning budget shortfall, issuance to $83 billion. u.s. corporate bond issuers have their worst in two months. sales totaling $4.3 billion. corn failed to move from initial prices. this is the first time this is happened for a deal since september. gep hainesville failed to attract enough demand. environmental have also been withdrawn. still with me is andy chorlton, noelle corum and tom atteberry. are we finally seeing a bit of a fracture, or something to be concerned about? noelle: it is not quite something to be concerned about . we think growth is moderating a bit from here. as i said earlier, we expect 2.8 into the first half of next year. the second half a li

steve mnuchin and china's vice president are said to have resumed talks on trade and a potential visito washington is on the card -- on the cards before they meet at the g20. stocks traded lower following a tech lead slump on wall street overnight. the beginning of november seems to be fast evaporating. joining us now is mark cudmore, bloomberg mliv strategist. we have these two forces in the asian trading session and where waiting to see which one wins out, there is the selling around tech and the buying around trade expectation is your for how this ends in the short term? absolutely, the first takeaway is that the era of u.s. performance ended last month. we thought that was the start of the new theme in october. a continuation of that at the moment. chinese stocks traded well in over the last week we have seen chinese stocks the verge what the s&p has done, they have not gone back toward the low of october 19 when the chinese government said they would support the market more aggressively and it looks like the chinese stocks have fallen so far, they have seen so much pain that they

coming up, the auction block coming up with treasury secretary steve mnuchin, and the u.s. treasury set a record for issuance levels. a big slate of auctions coming up next week. this is "bloomberg real yield." ♪ jonathan: i am jonathan ferro. this is "bloomberg real yield." we are going to head to the auction block now. the u.s. treasury releasing its funding plan and more treasuries are coming. debt sales will surpass levels last seen during the financial crisis. a ballooning budget shortfall, happening to raise long-term debt issuance to $83 billion from $78 billion three months ago. u.s. corporate bond issuers have their worst in two months. sales totaling $4.3 billion. failed to drum up much interest. one example was corning, which failed to move from initial prices. this is the first time this is happened for a deal since september. and some deals in high yields, a gas company gep hainesville had a $600 million offering after it failed to attract enough demand. deals from international fc stone and gfl environmental have also been withdrawn. still with me is andy chor

earlier this year, mr trump's treasury secretary steve mnuchin estimated he was spending half of hislatest, applied against iran, are also some of the oldest. they restore long—standing restrictions on trading oil and obtaining finance, lifted three years ago when iran agreed to restrictions on its nuclear programme. the intention is to change iran's behaviour, its repression of internal critics, its use of proxies like hezbollah to undermine its neighbours. let me ask you first of all, amir, what do we know about what is happening inside of iran? some sanctions were restored six months ago now, when president trump walked away from the iran nuclear deal. have they had an impact on day—to—day life? the us has imposed 35 rounds of sanctions on iran, sincejimmy carter, and 2a of these were imposed by democrats and presidents. ii of them only by 0bama. the defence was that he would impose the sanctions but not implement them. so, he would have his bread buttered on both sides! now we don't know if the trump administration wants to really impose these sanctions and implement them or not.

mike pompeo and steve mnuchin will have a news conference at 8:30 eastern time this morning the u.s.ted sanctions under a nuclear deal under the president. the trump administration also said it would grant wavers allowing eight countries to continue importing iranian oil oil prices this morning, wti crude is 62.85 did you see the tweet that the president put out of himself with th the game of thrones ande president wrote back, i will defy you it was very game of thronesish. >> it's real and not a made up story. >>> the trade news despite the escalating trade dispute, they want to make it clear that they're still open for business. president xi jinping is lodging the import they broaden market access and import more from overseas. not a trade war, a rhetoric war. >> a.mazon has held advanced talks to locate the campus in virginia, crystal city, virginia, just outside of washington discussions will happen about which buildings amazon can occupy a few other cities remain in the mix including toronto, dallas, new york city, and austin, texas. a top amazon executive is throwing cold water

among his advisers are the pro-deal crowd, steve mnuchin and larry kudlow. on the wall street side of things, they are worried about the potential for a trade war that gets out of hand. then you have peter navarro and bob lighthizer, the china hawks. the u.s. is fighting an epoc hal battle about the existential future of the u.s. economy. any lessons toe be drawn from the nafta negotiations, anything about the u.s.'s astrazeneca relates to trade -- posture as it relates to trade? shawn: china is different in terms of size and scale of the problem, and the view here in washington on both sides of congress is that it is a problem, the u.s. needs to get tough. that's a different story. had a lot of bluster going into these nafta negotiations. there are some interesting tweets. agreement.weet trade jason: still ahead, the global economy in 2019. carol: brexit aftermath. when the headlines fade, governor mark carney will be in the hot seat. jason: this is part of the special issue on the year ahead, were we focus on the leaders and the most urgent topics in the c

steve mnuchin. steve, thank you very much. wilbur ross. alex acosta. matt whitaker. ben carson.dministrator linda mcmann. ambassador lighthouser and acting administrator who i will tell you is going to be made permanent, he's done a fantastic job and i want to congratulate him, epa adam wheeler. where is he? congratulations, adam. great job. great job. thank you very much. thank you, as well, to senator amy klobuchar for being here. where is amy, by the way? where is amy? i did it before, amy. and five decades, the presidential medal of freedom has been given to individuals who have made outstanding contributions to american life in culture. this year it is my true privilege to award this honor to seven extraordinary americans. senator orrin hatch, the late great justice antonin scalia, myrrh i didn't mean miriam adelson, roger staubach, alan page and two others not with us, but whose legacies will live on forever, legendary babe ruth, legendary elvis presley. true legends. the first recipient is one of the longest serving and most respected senators in american history. senator

the chinese vice premiere will come washington quote soon to talk to treasury secretary steve mnuchinnned trip. white house advisors had a meeting on trade. it was expected that auto tariffs also came up. >> we are communicating at all levels. we are working on background materials preparation. we are waiting for china to come back with some thoughts, and the process is ongoing. >> the u.s. wants to protect intellectual property and increase market access. the chinese are trying to head off the 25% tariff. $150 billion of chinese goods are already under a 25% tariff. we are the chinese's largest customer. they are creating a supply change move to mexico. last week the white house staff circulated a draft on auto tariffs that would be up to 25% on you a toes and auto parts. though canada worked out an exemption deal. but the auto parts does affect china. they produce a lot of parts that come into this country. that could be a further blow if the tariffs go into effect. larry kudlow also doubled down on president trump's use of the term nationalist. he hit back at he me -- at emmal macr

among his advisers are the pro-deal crowd -- steve mnuchin and larry kudlow.n the wall street side of things, you think you do not want to upset markets. they are worried about the potential for a trade war that gets out of hand. and then you have the china peter navarro and bob lighthizer, who think the u.s. is fighting an epochal battle. that this is about the existential future of the u.s. economy. jason: you mentioned bob lighthizer. are there any lessons to be drawn from the nafta negotiations here? anything about the u.s.'s posture or even its negotiating style that we can draw from going forward? shawn: i think china is different, just in terms of size and scale of the problem, and also the view here in washington, on both sides of congress, that it is a problem and that it needs to be -- that the u.s. needs to get tough. that's a different story. but at the same time, remember we had a lot of bluster going into these nafta negotiations. and you came out with something -- there were some interesting tweaks. this was really a tweaked trade agreement rath

in terms of the insiders on president trump's economic team, you have steve mnuchin who has met with vice chinese premier with regards to seemingly suggest there is some positive optimism heading into airesne is aries -- buenos summit. then i look at peter navarro who gave a blistering critique in terms of how china has responded, not just to the u.s. on the political front but also in the global economic front. in thee that voice administration that is advocating for a more isolationist approach. in terms of negotiating with china. i think that tension will be on full display with how the president works to use leverage with the chinese by saying are you going to play ball? do you want me to listen to secretary mnuchin or peter navarro? and thehat play out president ultimately decided to listen to peter navarro with imposing those tariffs. you will see it again as we lead into the g20. vonnie: thanks to kevin cirilli on capitol hill. let's get a quick check on u.s. markets now. here is the picture for the dow selling more than 4/10 of 1%, the leading laggard is boeing in the dow. th

steve mnuchin says swift will cut off sanctions banks as soon as it is technically possible.ritain, france, germany and the european union are committed to the iran nuclear deal saying it, quote, provides the lifting of international sanctions to have a positive impact on trade and economic issues with iran but most importantly on the are lives of the iranian people, committed to help facilitate business with iran is allowed under the nuclear agreement despite us sanctions. shannon: police investigate claims anti-semitism by britain's leftist labour party tops tonight's where in the world, they crime inquiry focusing on online messages by labour party members. unclear whether they are rank-and-file or officeholders. one allegedly says we will read the world of all jews. tanzania's largest city on the brink of a crackdown on homosexuals. city officials asking for tips to locate suspected gays and lesbians, roundup that arrests will begin next week by a special team made of police and psychologists. human rights advocates are very worried this will spark violence. thousands pro

under obama, he held the record for the most debt issued under his watch until last week when steve mnuchin took that honor. >> i still think it helps the republicans. i do think wherever the economic recovery started, it doesn't matter. it is where and who is president at the time people are enjoying the benefits. the deficit is not really mattering as much. many republicans don't care about that even though it is part of the rhetoric. so i think it is an origin story that might not have a big effect on the campaign trail. the real issue is if people are thinking about the economy and thinking about their jobs or as rachel said all of a sudden a backlash to the ugliness. >> the real question is turnout. turnout will be key. rachel, let's talk about the broad forecast. 85% chance democrats flip the house. 85% chance republicans hold the senate. may gain some. if democrats are unable to flip and take control of the house, what will that reveal to you? >> man, if that happens, there will be a total bloodbath in the democratic party in washington. a lot of people will point the finger at nancy

. ♪ emily: earlier this month, the irs unveiled proposed for what steve mnuchin said could be a $100lion investment in distressed areas. the proposal details how taxpayers can qualify for special breaks by investing in low income areas. but a hidden clause could deter venture capitalists. the rule requires businesses generate at least half of their gross income within the zone they operate. for startups, many of which seek widespread sales, this could pose a problem. here to discuss is our next guest from seattle. walk us through why investors might be for or against this. >> as you said in the intro, the treasury is trying to walk a fine line. they want good investment in these communities. they want investment that is going to help spur job creation and keep people from gaming the system, but what this one small clause in the regulation says is that the company has to get most of its gross income from a small area where the company has been. some of these zones where you can get these tax breaks are rather small. in some cases they are a few square blocks. the problem is that a lot