investors can thank treasury secretary steven mnuchin at this hour for the fact that these numbers on your screen are not a lot worse. the dow had been down more than 250 points before mnuchin took the mic a half hour ago on the back of a tech and a fed head who at 1:00 p.m. eastern publicly through water on a possible third hike. the dow clawing back more than 100 points as the treasury secretary firmly announced during the press conference that tax reform will get done whether a health care plan is passed. at a close, the dow tanking by 257 points, now down 150. mnuchin expressed confidence, tax reform will succeed regardless of the efforts to reform health care. now for the s&p 500, it's down 20 points. certainly had been a lot worse. the nasdaq lower by 105. to that point, we're looking at all stocks and the trump rally that has hit this bump as president trump hits the road to pump up american energy dominance. he's expected to leave the white house or the energy department at any moment to give a major energy policy speech in this hour. what he's expected to do is lay out his pl

i ask steven mnuchin his thoughts on this sanctions moments ago.eneral are very effective tool for the government and i think we will use them to the maximum amount available by law we are focused on north korea were focused on iran and syria and we will focus on russia as well. these are very important tools and we are working very closely with secretary tillerson on how we use sanctions across our policies. beginning at 230 eastern. as we take you alive to washington later today. editing the yearbook. and lands one teacher in hot water. the details as an jersey high school teacher is now suspended after editing student yearbook pictures. that had references to present term. netflix says it is forced to cancel shows of the writing list. futures indicating a higher open for the brighter averages. they are expected to be up about 20 points today. a similar story in europe where stocks are higher across the board. we are all waiting on the federal reserve. we will find out if they raise interest rates like they are expected to tomorrow. they're mostl

treasury secretary steven mnuchin is taking issue with the bureau's director, one of the few regulatorshat doesn't answer to a bo be removed by the president. >> we think it's improper that this is funded out of the fed. this agency should be subject to proper review and not subject to one person acting on their own. >> when president obama announced the bureau formation, it was a blow to big banks and wall street. >> consumers will have a powerful watchdog. >> elizabeth warren is describing these new recommendations as radical changes, ones that could potentially spark another financial meltdown. "it comes as no surprise that donald trump and steven mnuchin, two men who are deeply involved in companies that she did thousands of customers, would want to gut the agency that has held cheaters accountable and returned more than $12 billion to consumers." the report comes days after house republicans passed a bill ruling that many of the dodd-frank regulations that were also enacted after the 2008 crisis. it adds up to a concerted effort by congressional republicans and the trump administra

you have just been listening to treasury secretary steven mnuchin. he was speaking at a daily press briefing about increasing economic pressure on north korea by letting -- levying sanctions particularly against the chinese bank. hein cirilli nrdc bureau -- answered a number of questions on a wide range of topics -- at answered areau -- he number of questions on a wide range of topics. before we get to that, let's summarize what he said about the sanctions against this chinese bank. what he did say and tried to make clear was that this was a sanction on a particular bank then against china -- rather than against china. >> we have -- this is the farthest we have seen the ministration put pressure on china in order -- this administration put pressure on china in order to address the north korea institute -- issue. the treasury secretary out of his way to try and make the case , although i am not sure how well he made it, that this was not a signal to the chinese government, but rather to a separate chinese financial institution entity. all of that said

joining me from washington, treasury secretary steven mnuchin. welcome. >> thanks, charlie. great to be with you. >> rose: tell me what you help to accomplish with this regulation. >> well, what we're really doing is looking at all the regulations around the president's core principals on financials and the first report is focused on banks and u.s. depes tores. we're focused on what are the recommendations we can make that will drive growth in community banks, credit unions and regional banks? if you look at the u.s. banking system, 50% of the assets are held in the top a.g.sibs. we want to unlock the burdensome regulation on the other banks so they can make sure they are lending to small and medium-sized businesses in their communities. >> rose: one interesting question people ask, they say unemployment is low, the markets are very hot, and why -- and there have been no crises since 2008, why do we need to fix it if it ain't broke? >> well, charlie, you know, for a lot of people, the system is working, but there is an awful lot of people that the system isn't working, and a

coming up, interview with steven mnuchin. he told us about crafting a tax plan for the house and the senate. this is bloomberg. ♪ vonnie: this is "bloomberg markets." here is mark crumpton. mark: it may be the most expensive raise ever for the u.s. house of representative's in georgia. they will decide today between democrat john also off and republican karen handel that could have a preview race for the 2016 elections. could end up costing more than $50 million. the you k's chancellor protecting financial services at the heart of his plan. they have not spoken against breaking up services. >> the financial ecosystem that underpins this activity is large and complex and critical mass is important. let me be clear -- fragmentation of financial will result in poor quality, higher price for everyone concerned. >> the speech marks a shift in , controllingrnment migration to safeguarding jobs. the man accused in the london mosque attack is described by his mother as disturbed. darren osborne is being held on suspension -- suspicio

read it carefully. >>> skwk being newsmaker treasury sector steven mnuchin on the trump agenda.icking debt bomb and the time line for tax reform >> massive tax reform that comes along with tax cuts. and this is my number one focus. >> big money, big media. we'll take you live to the industry's biggest festival in france media guru bob pitman and ryan seacrest going to join us first here on cnbc >> plus, corporate love at first sight. the ceo of whole foods compares the tie-up with amazon to tinder we'll tell you why as the final hour of "squawk box" begins right now. >>> limp from the most powerful city in the world, new york. this is "squawk box. >>> good morning, everybody. welcome back to "squawk box" here on cnbc we're live from the marx in times square i'm becky quick along with wilfred frost, and michelle caruso-cabrera joe and andrew are off today we've been watching the futures and of course, after another day of records for both the dow and the s&p 500 we're looking at market that's relatively calm right now. looks like things are essentially flat but the s&p futures ar

. >> still to come, as we review the week, the push for tax reform from steven mnuchin.lus conversations with economy ministers from south korea and greece, portugal, and mexico. witharoline hyde goes 1-1 facebook's share sandberg. but up next, more of the weeks top business headlines. investigators he was another week -- legal blow. >> it adds to a list of misconduct, will come to light in the nine years since the financial crisis. >> this is bloomberg. ♪ this is "bloomberg best". but continue our to her of the top -- business stories with elections in france. voters give a boost to the new party led by emmanuel macron. in france, microns republic on the move, and its allies have one of 350 seats in the national assembly, the biggest majority in 15 years. >> it to large majority. pass reformsle to in the parliament. especially against candidates who offer yet. he mixes in parliament. also you that the leader of the national -- emmanuel le pen -- elected for the first time after four times to get at the national assembly. she managed to get one last night. also elected f

treasury secretary steven mnuchin speaking to bloomberg earlier today. coming up, oil trading at a seven-month low. under $44 a barrel on wti 42.19. you can see we will trade this case on oversupply in. that is next. this is bloomberg. ♪ >> live from new york, and london, i am vonnie quinn. nejra: i am nejra cehic. this is bloomberg markets. we are looking at oil. time for futures in focus. oil dropping to a seven-month low as libyan output climbs to a highest levels in four years. joining us to discuss the latest move in crude is todd horwitz, chief strategist at trading. to the program. are we in panic setting? we are seeing drops of 3% in this session. mr. horowitz: good afternoon for you. i think we are in some sort of an overcrowded trade. i think you are now seeing too many people on the short side of the trade. we are going lower but you will probably see some sort of balance or. we continue to push lower without any chance of a bid and that is an indication that too many treasuries are trying to push it down based on too much supply, based on the

to talk about this it will be an interview that follows the interview with steven mnuchin >> i like that. >>> my piece is titled "brexit in reverse." by approaching the negotiations that will start on june 19th in a conciliatory spirit, theresa may could reach an understanding with the eu on the agenda and agree to continue as a member of the single market for a period long enough to carry out all the legal work that will be needed this would be a great relief to the eu, because they would postpone the evil day when britain's absence would create an enormous hole in the eu budget and that would be a win-win arrangement. >> mark carney has been speaking about that this morning. that's his dovish comments as well >>> approaching the tom of the hour the team is getting ready for "squawk box. becky has a look at what's coming up. >> good morning. sorry. just turning my ifb up sorry. we have a lot coming up on the show this morning. you'll be joining us about an hour from now. some of the big headlines, we have steven mnuchin, the treasury secretary, he will be joining us to talk about a lot

i was happy to see steven mnuchin speak. we have to start somewhere with the economic sanctions.hin for me to have any real impact. >> eric: much more. i think president obama put more sanctions on russia when he left office over something far less dangerous in my opinion than the crazy dictator. >> ed: these people have been starving for a long time. the chinese are the key and they don't want to play there. that's the reality of it. that's why we are having these discussions. >> kmele: conversations about trying to find a bold, new approach here. i don't know that there is one. there is the status quo and it exists because of the carnage that could possibly happen. i wonder if what we are seeing from south korea is less hostility to the united states in particular and more specifically a genuine concern that this administration might be more willing to look at the military option. i think the president has at least trying to posture that way. i have no reason to believe that he is actually interested in picking that particular military fight. >> ed: you have a new president who

separa separately steven mnuchin testified about the budget >> if for whatever reason congress does notct before august we have backup plans to fund the government. i wanted to make it clear that's not the time frame that would create a serious problem however markets don't want us to wait >> treasury secretary steven mnuchin making the case for raising the debt limit by the september deadline something that has run into resistance from the president's own administration >> i want to come back to the recommendations on banks one other key bank there was no line alongside glass-steagall and bringing any of that back. also no clear line on repealing parts of the volcker rule around prop trading the general tone does make one key point, we could move towards a theme of deregulation or certainly less re-regulation without significant laws passed. that was encouraging particularly on capital levels in terms of stress tests moving forward. that's why we focus on june 18th this is a different tone from regulators moving forward, and it could lead to big banks having a billion or so of capital

. >> c-span 3 later today, reasury secretary steven mnuchin will testify on his department's 2018 budget, live at 4 p.m. eastern. again, on c-span 3. e have more live coverage coming up this evening on c-span 2, defense secretary james attis and joint chief chair, dunford will be testifying on he pentagon's $640 billion dollar budget request. 7 p.m. eastern live on c-span 2. >> c-span, where history unfolds daily. 1979, c-span was created as a public service by america's companies.ision and is brought to you today by our cable or satellite provider. up next on c-span look at the session of the australian that just wrapped up. a look back osted at the top political issues in australia, including trump withdraw from the paris agreement and military ties. >> hello, i'm tom connell, elcome to question time of the australian parliament. will the terror attack in had an impact all the way down here in australia. he prime minister asked about his thoughts, including keeping australia safe. thank you, mr. speaker. my question to the prime minister. will the prime minister update house on the man

that has come down on the shoulders of gary cohn and steven mnuchin. are you confident as well we'll get meaningful tax reform by august which they're committed to? >> i'm losing mile faith to be honest with you, cheryl. market seems like they're holding on to hope. that is what is dangerous here. i agree with kevin, i like the rhetoric. there is good thatting in d.c. what needs to be done just is there cooperation in congress. i make a quick comment about the today was the war on coal. it was the end of the war on miners. it was the end on the war of manufacturers. it is the end of you didn't build that era last eight years why stocks are happy. cheryl: veronica, tomorrow we get may unemployment report. i'm looking at manufacturing. how many ceos have we seen at white house last five months. do you think we'll get meaningful numbers tomorrow? >> i hope so. probably not as good as april. we need continued wage growth. that has been missing piece of the puzzle. we need meaningful wage growth to get the economy further off the ground. we need tax reform

at ain for steven mnuchin 7:00 a.m. hour. from new york this is bloomberg.crubbing how recent market moves have affected the sectors in the s&p 500. this is the relative rotation graph. i want to start with the leading quadrant. they are leading the market and not surprisingly on a they were the nasdaq is outperforming the index, it is far and away the leading sector here. we also have four other sectors. consumer staples and discretionary. what has been weakening is financials. you can see other sectors including telecoms and energy companies. you have a story of growth tromping value. this plays out over the last 12 weeks, which is the equivalent of a quarter. we have real estate, real estate investment trust. and industrials as well. notable for many sectors, almost half of the s&p 500 in the leading sector as the s&p 500 continues to hover around record highs. >> we have also seen rotation into other parts of the world. if you look at the chart behind me, the yellow, china the white, purple is mexico, the red is greece. the blue is russia. more than 20%

treasury secretary steven mnuchin, who is speaking right now to the house appropriations subcommitteertant comments about the debt ceiling. he repeats he wants the debt ceiling raised by the august congress break. does not want there to be a weight. he says the government can fund itself through the start of september. a sort ofong been usually going to the end game of chicken, with the administration wants a clean hike. as we mentioned before collision says they anticipate a 3% economic growth after the agenda is in place. that would be after better trade deals, tax, and regulation reform. regarding the debt ceiling, he as he cannot imagine scenario where the deb ceiling is not raised. you can catch this full hearing online go on the bloomberg -- on live go on the bloomberg. mark: president trump's revised travel ban has been locked by a second federal appeals court. it agreed the president's executive order targeting majority muslim countries disseminated on the basis of religion. on june 1, the white house asked the supreme court to let the ban take effect while the justices decide

white house press briefing by treasury secretary steven mnuchin and principle deputy sar sarah huckabee sanders just getting underway. >> thank you. today the trump administration is continuing its efforts against the government of north korea. despite multiple u.n. security council resolutions, imposing international sanctions, the government of north korea continues its nuclear and ballistic missile programs. today treasury's financial crimes enforcement network has found the bank of dandong to be a foreign financial institution of primary money laundering concern under section 311 of the usa patriot act. this bank has served as a gateway for north korea facilitating millions of transactions for companies involved in north korea's nuclear and ballistic missile programs. the united states will not stand for such action. this will require u.s. banks to ensure that the bank of dandong does not access the u.s. financial system directly or indirectly through other foreign banks. this action reaffirms the treasury department's commitment to ensure that north korea is cut off from the u.s. f

. >> julie: there you have treasury secretary steven mnuchin. he's basically talking about sanctions on north korea putting pressure on countries like china and others to cut off ties to north korea as it continues to disobey the world on its nuclear weapons program. we'll go back to the white house press briefing when sarah huckabee sanders takes the program. we'll be monitoring it for you. we'll have it here for you live. meanwhile senate republicans scrambling to draft a new healthcare bill before the fourth of july break. as mitch mcconnell works to win over gop strong holds. joining us the republican national chair woman. thank you for talking to us. >> thanks for having me, july. >> julie: healthcare, the travel ban, camera, on camera/off camera press briefings that we're about to air. but instead i got to start with the president's tweets. this probably makes you cringe. i need your reaction. and here's one of them. i heard poorly rated morning joe speaks badly of me. don't watch any more. then how come low iq crazy mika along with psycho

treasury secretary steven mnuchin. the committee has received your written statement and it will be made part of the formal hearing record. you have five minutes to deliver your oral remarks, secretary mnuchin. welcome, and you may begin when you're ready. >> thank you. it's a pleasure to be here. chairman brady, ranking member neal, and members of the committee, it is an honor to be here today. my first time appearing before the house of representatives. i'm looking forward to working with members of congress in this committee on passing important legislation for the american people. my number one priority as treasury secretary is creating sustainable economic growth for all americans. the best way to achieve this is through a combination of tax reform, regulatory relief, and protecting taxpayers. this also includes making some difficult decisions with respect to our budget. we are currently bearing the cost of excessive government commitments of previous years. this has forced us into hard choices. but the remarkable

this week treasury secretary steven mnuchin conceded the president would in fact sign a tax bill that benefited america's rich so long as it cuts taxes, any taxes. ali, do you think that president trump understands what it takes to actually reform our tax system? it is massive. >> it's very big, it's very complicated. one time we had a tax system that was really simple, everybody pays a percentage of what they earn. then special interests came in and changed everything around. >> and they're not leaving. >> they're not leaving. so it's going to take a very long time to decide who gets exemptions, what do we want to encourage. some people in the country say the tax code shouldn't encourage or discourage anything. the problem is we have a tax code that encourages you to give to charity, encourages you to get a mortgage and buy a house, encourages businesses to form. it will take years of study to figure out how to do this. it's not a matter of writing a few bullet points down. >> which is all we have. the president is putting his team in an extraordinarily difficult position saying this

vonnie: we also know steven mnuchin will testify on the budget, and the president is in wisconsin talkingbout infrastructure and labor force. distract in any way from jeff sessions'testimony -- sessions'ons -- jeff testimony. kevin:> they are trying to push an apprenticeship system, but all attention will be on just session -- on it jeff sessions sessions'eff testimony. >> when james comey testified last week, he said there was no evidence that the russians actively compromised the election. i think we should think more likely that the russians are doing reconnaissance. withmay have not tempered actual votes, but learning how to access these databases is critical if you are trying to disrupt an election. they may not have pulled a trigger in the major way during the 2016 election, but they are getting the knowledge on how to access these databases, which ones are worth targeting, and how much you can get away with. that is extraordinary intelligence for these hacking operations. you can expect they will refine their techniques and come back for more in the elections in the following years

the sole witness is steven mnuchin. the committee has your statement. you have five minutes to deliver your oral remarks secretary mnuchin. you may begin. >> it's a pleasure to be here. chairman brady, it is an honor to be here, my first time appearing before the house of representatives. i'm looking forward to working with members of congress on this committee in passing important legislation for the american people. my number one priority as treasury secretary is creating sustainable, economic growth for all americans. the best way to achieve this is through a combination of tax reform, regulatory relief and protecting taxpayers. this also includes making difficult decisions with respect to our budget. we are bearing the cost of excessive government commitments of previous years and this forced us into hard choices. the remarkable thing about economic growth is it builds upon itself. if we develop the right policies today, our children and grandchildren will reap the benefits of an ever growing economy. in the next ten years, if we return to the histor

you remember it was just yesterday that treasury secretary steven mnuchin announced they were going tow sanctions on a chinese bank as a result of its ties with north korea. vonnie: kevin's really at the white house following that meeting. thank you for that. -- laurao include keller is joining us for the fourth of july-themed special chart, would you can always look up in your chart library. take your chart day away. laura: we're celebrating and getting ready for american independence this weekend and we have key items you need for the picnic on the fourth of july. we will see how expensive your fourth is going to be committed g #btv 605. we have basically got this blue line, the avocado prices. -- will be happy to see excuse me, that is the white line, actually -- you will be happy to see the avocado in your guacamole will be less expensive than earlier this year. beer, the blue line, inching down as well. 2 wins for us. however, the red line, the beef prices, that will be sticky. from 2016 is desperate inching up, inching up, and you can blame week rain. vonnie: i'm not sure what th

kevin: those comments, a day after steven mnuchin told reporters he is imposing new sanctions on a chinesetitution. sanctions against china, but a bank. david: let's look ahead to next week that the president is going to take -- let's look ahead to next week+++ president is going to take. kevin: that will rub people the wrong way. look, next week, it will be all about russia, russia, russia. president trump meets with vladimir putin at a time when republicans are stressing the white house to take a stronger stance on russia's cyberattacks. let's not forget that the senate will past nearly unanimously from the senate. it kicks to the house. it is increasing pressure for the white house to do something against vladimir putin. we had one voice from the white house saying it will not be discussed. any sign that we get resolution there? we have had an about face on repeal and replace. kevin: i spoke with sources yesterday. we got into what could potentially be negotiated. they're hoping to potentially expand what are known as the health savings account programs. that is a popular conservative i

you have steven mnuchin, gary cohen advising on the economy as well. been very successful, because they've been able to figure out the economic puzzle and how to succeed in the country. president trump said i wanted to get the best and brightest out there. >> juan: can i interrupt? >> kimberly: yes. >> juan: he the richest. >> kimberly: i said when he ran for office. >> juan: last night he said the richest. >> kimberly: he saying it makes sense. >> juan: if he said what you said, i might buy back into it. >> kimberly: would you vote for me, juan? >> juan: i can't help myself. i would. >> greg: i don't want someone with poor upper body strength to help me lift my couch. he is talking about the people that we know in our lives who are poor, no matter what they do with their money. no matter how much money they make it, they are just not good with their finances. somebody who is great with their finances, in charge of our finances, you want a great accountant who is good with money. it's amazing how pathetic the critics are. they know what he meant but --

officials and top white house staff, all decked out in black ties to see treasury secretary, steven mnuchin tie the knot, and after the vows, votes to count this week on the senate republican health bill. democrats are putting up a fight. >> this easily could come u one vote. >> let's open it up, who has the next question? >> president trump needs a shot in the arm politically from his own party, but the senate bill still being shaped is falling short. the president on fox news channel. >> i think it's going to be fine, and we have to remember obamacare is daead as a doornai, it's over. >> and the president and vice president are making phone calls. the president spoke to ted cruz. the clock is ticking. monday the bill's cost and coverage implications are expected from the congressional budget office and tuesday and wednesday, sources predict last-minute changes and then thursday, o'connell set that as a deadline to vote and republicans can only lose two of their own. and thees i cannot imagine these fine republican centers would allow the american people to surf through a broken obamacare

more from canada where steven mnuchin will meet with his counterpart and the latest from london and the uk election has left the prime minister and her party badly bruised. our reporters have it all covered. a full trio. john harwood in washington, ylan mui and wilfred frost. >> reporter: we just had the president have a high-profile event on what he hoped would be infrastructure week. it was a speech repeating had his position that we need to have an upgrade of roads, bridges, airports. what everyone is paying attention to is the controversy involving the russian investigation and james comey's testimony yesterday. the president tweeted this morning he thought the hearing yesterday and the intelligence committee was total and complete vindication of his position, and he said it identified james comey as a leaker. now the president is going to speak in his own words at a news conference in the next hour or so in the rose garden with the romanian president having a working visit with the romanian president who is, of course, the leader of a nato ally. the only thing anyone will be intere

treasury secretary steven mnuchin says the top administration will not be set as i'd with 2% economicwth -- satisfied with 2% economic growth, as lawmakers continue negotiation on tax reform. he spoke earlier to bloomberg television. >> i think we have been pretty consistent in saying we are working every week very closely with the house and the senate to have a joint plan when we come out. the idea is to get us all on the same page so when we release the combined plan, it will get past. it will get passed by the house and the senate and the president will sign it. it is our focus to get it done this year. it's critical to the economy. we are working every day to get that done. emily: he also says the administration is committed to unlocking the economic capital to create jobs, better wages, and getting growth above 3%. tech leaders say the u.s. government needs to modernize, after president trump's senior advisor and son-in-law jared kushner held a summit at the white house on monday. ceo tim cook was one of the titans in attendance, and commended kushner's steps in getting the gover

treasury secretary steven mnuchin has a lot of things on his plate. >> the white house economic which, which magician -- steve mnuchin plays a big role tax code,ul the overhaul the obama era tax he has a casket to invest in infrastructure programs across the country. all this is meant to boost growth. he says it will take about two years to get to the 3% growth figure. officials have worked very hard just to get to 2%. jumping to 3% or above is a challenge. oliver: sounds like secretary --ivation could use some secretary steve mnuchin could use some help. >> the white house needs to hear theend coherent messages so republican legislatures -- legislators can know what to do. , lot of former administrations both republican and democratic have relied on counselors for treasury but there are supposed to be under secretaries overseeing each of the three main units of treasury, domestic finance, international affairs and terrorism and finance. those are not filled and one has not been nominated. compared to the obama administration, trump is behind on the treasury department. you could say

come as wel to review the week on "bloomberg best," the push for tax reform from steven mnuchin.s, conversations with economy and finance ministers from south korea and greece, portugal, and mexico. and caroline hyde goes one on one with facebook's cheryl sheryl sandberg. but up next, more of the weeks week's top business headlines. investigators deal barclays another blow. number of to the misconduct crises in the nine years since the financial crisis. shery: this is bloomberg. ♪ ♪ shery: this is "bloomberg best". i'm shery ahn. let's continue our global tour of the week's top business stories with legislative elections in france. voters gave a boost to the new party led by president emmanuel macron. >> in france, macron's republic on the move and its allies have won 350 seats in the national assembly. that is the biggest majority in 15 years. >> it is a large majority. 350 seats. out of 577, he will be able to pass reforms in the parliament. however, it is not as big as we expected. there were very tight races in some of the constituencies, especially against the republicans. t

equities at baird europe staying with washington, tune in for 13:30 cet with cnbc's interview with steven mnuchinse speaker paul ryan also talking to our colleagues stateside. that's later at 19:30 central european time. that wasn't paul ryan. that's angela merkel, a lady who seems to be a shoe-in for the chancellory again this year. she says they need to make progress to reduce global overcapacities close to a trade agreement with japan what else will they discuss? trade, trade discussed in hamburg. we'll try to reach broad agreement on open markets at the g20. not easy with new administration but we will try. they will focus on free, fair, sustainable and inclusive trade. >>> back to the uk, i'm sure they wanted free, fair, sustainable and inclusive trade as well. the germans will be under pressure at g20. very often the communiques, it's been talking about the nations who don't spend enough who has the massive current account surpluses, massive trade surpluses and not always pointing the finger just at the chinese. just beware. that will be an interesting conversation given what's happened wit

melania trump, the vice president and others, was actually at the wedding of treasury secretary steven mnuchintress louise linten. the couple exchanged i dos before 300 guests saturday. they have skirting interests. mnuchin apologized for participating in a movie he produced in march. and she once headed a company that he invested in and divested from since taking office. >>> ivanka trump testifying in a lawsuit against her fashion label. what's the charge here? plagiarism. italian shoemaker aqua zura claims her brand copied its designs. at the center of the lawsuit is this shoe here -- take a look. they look sim larks don't they -- similar, don't they? >> a bit. >> the judge is looking closely at the shoes. ivanka's lawyers deny that they're too similar saying aqua zera's shoe lacks the paperwork. ivanka trump was head of the company before her father took office. she's currently a white house adviser, why her lawyers say she should be exempt from testifying. the judge disagreeing. she has to be deposed by october. >> you're the shoe expert. i'm not. those were carbon copies to this guy -- >>

earlier today i had a wide ranging conversation with steven mnuchin. this was outside of washington, d.c. i asked him about his focus on there being a strong and dependable dollar. >> the dollar is the reserve currency of the world. it's not our focus where the dollar is in the short-term. there's obviously a certain negative aspect of a strong dollar as it relates to our exports. on the other hand, a strong dollar is a vote of confidence in the u.s. economy and the trump administration, similarly to what is going on with the stock market. this is one of the most important economic investment opportunities in the u.s.. we are seeing a lot of attractions here, that's a lot about what this conference is today. >> on the issue investment -- investment, you suggested that cultural long bond makes sense. do believe that, are you walking back from that? >> i'm not walking back. it's something we are seriously considering. i do think it's a tool that they struck -- government should strongly consider. we are reaching out to see what the demand is. we don't wa

joining us tonight, treasury secretary steven mnuchin, great to have you with us, yo number one job right now economic groh becoming at you very quickly is the debt ceiling. is it going to get complicated? you're going to meet with the house next week. >> well, first of all, let me say it's great to be here with you. thank you and the president is very focused on economic growth. it's a major priority, and we are focusing on delivering sustained 3% gdp, as we talked about over a reasonable period of time. we're focused on tax reform, focused on regulatory relief, and we're focused on better trade deals. and i think you saw this week the paris agreement, the president believes in clean air and clean water. but the president believes in economic growth, and he wants a better deal. it was an unfair deal for the american people. >> an unfair deal is being kind. and when we look at the deal the president outlined $3 trillion in costs to the american economy over the course of the next 20 years, i mean, this is astounding for what -- i love the fact that he described it this way, a reduction in

quickly, before you go, we have steven mnuchin, and gary cohn the economic adviser to the president right writing up tax reform. if necessary, would you -- and i'm not talking about you the republicans, would you personally, doctor, give up your august recess to work through it so that it's ready by the first two weeks in september? >> oh, absolutely. i think we need to do -- look, liz, as on a ogbyn doctor, i've been used to working 60 to 80 hos a week. absolutely every member of congress would be willing to give that effort. we could jump-start this economy and lower the debts. absolutely. liz: well, that's news, and i hope you're speaking correctly for everybody. but good for you, doctor. thank you so much. >> thank you. thanks, liz. liz: congressman phil roe of tennessee. we have the closing bell ringing in 49 minutes. dow jones industrials down 37 points. by the way, you should note that the low of the session is down 39, so we're heading back down right now. a major victory for tesla as its autopilot feature gets the clean bill of health. not guilty. and it is a shocking decision th

all decked out in black tie to see treasury secretary steven mnuchin tie the knot with scottish actress louise lynnton officiated by mike pence himself. after the vows votes to count. this week on republicans senate health care bill. at community meetings, democrats are putting up a fight. mar maryland's advice van hollen. >> so this is really a play. >> reporter: pennsylvania's bob casey up for reelection in a state that trump won. for some with serious health issues anxiety about what an insurance overhaul would mean. >> what i have now has kept me alive for three years. >> reporter: president trump needs a shot in the arm politically from his own party but the senate bill still being shaped is falling short. the president on fox news channel. >> i think it's doing just fine and it's going to be a good bill and we have to remember that obamacare is dead as a door nail, it's over. >> reporter: sources say the president and vice president are each making phone calls to hesitant republicans. the president spoke to senator ted cruz, the clock is ticking. the bill's cost and coverage impli

carol: let's set the stage here, because treasury secretary steven mnuchin has an awful lot of thingsplate. remind us of all the things he has been tasked with doing. reporter: the white house economic agenda, which mnuchin plays a very large role in, is to overhaul the tax code for the first time since the reagan administration. also to cut a lot of the financial regulations that the obama administration spent years putting in place with dodd-frank and other rules. he also has pledged to invest in infrastructure programs across the country, all of this is meant to boost growth, to 3% sustainable growth over the next couple of years. he says it will take about two years to get to this figure, considering we are right around the 2% point, and we have worked very hard just to get to 2%. jumping to 3% or above is quite a challenge. oliver: sounds like the treasury secretary could use some help. reporter: he does need the help of congress, for one thing. it is a republican-controlled congress. the white house needs to send coherent messages, to republican leaders, to what their legislativ

treasury secretary steven mnuchin has pushed for congress to raise the debt ceiling before august.he house is in session for 31 days. the senate is due to be here for 35 days. funding for the government runs out of the end of september. the houses scheduled to be in session for 43 days between now and then. the senate has 52 days on its calendar. there's also pressure for the senate to pass a bill to repeal and replace obamacare. majority whip john cornyn set this deadline for his fellow senators. >> we will get it done by the end of july. >> republican senator richard burr told north carolina tv station "i think it's unlikely we will get a health care deal. i don't see a comprehensive health care plan year." passing a budget is critical to doing tax form. republican sources tell fox g.o.p. senators are expected to discuss a variety of options at their luncheon tomorrow, including a longer phaseout of medicaid expansion and steps that could be taken to shore up the individual markets. the idea of discussing possible areas of consensus for there's been some talk of trying to send us

. >> treasury secretary steven mnuchin is a regular on capitol hill these days, urging congress to passo-called debt ceiling increase, meaning without negotiation, without drama. how >> paul ryan says he wants to deliver for the treasury secretary. >> he wants to do it earlier rather than later, that's what every treasury secretary says and should be saying. we are going to work with them on this. we are having ongoing conversations on how to address it and we will address it before we hit the debt limit. >> nancy pelosi sent her side agrees with increasing the government's borrowing authority and would love to do it in july without concessions to conservatives. >> we will not go down the path. when we go down the path, as a way to live the debt ceiling in the house, i doubt they could pass that in the senate. let's be efficient, let's remove -- let's save our debt for another subject. this is the full faith and credit of united six of america. >> but conservatives say with republik in the white house and the majority in congress and the debt at $20 trillion and counting, this is a grea

you have steven mnuchin, gary cohen advising on the economy as well.successful, because they've been able to figure out the economic puzzle and how to succeed in the country. so, when president trump ran for office, he said, i want to get the best and the brightest available out there to help me with this challenge to make america great again. >> juan: can i interrupt? >> kimberly: yes. >> juan: he the richest. >> kimberly: i said when he ran for office. this is what he promised. >> juan: last night, he said the richest. >> kimberly: he said it makes sense to have someone who knows how to make money. >> juan: if he said what you said, i might buy into it. >> kimberly: would you vote for me, juan? >> juan: i can't help myself. i would. >> greg: he basically said, i don't want a clumsy person helping me move my couch. l there two types of poor people. there is a class designation where you work hard but you are never going to get rich. he is talking about the people that we know in our lives who are poor, no matter what they do withuc their money. no mat