of the opinion that many people have to right now i would like to see what the watchdog of the american economy basically is saying to that the federal reserve bank and they have been repeatedly warning of the negative impact on the american economy when it comes to these ongoing trade disputes and economists reckon that every one hundred billion dollars worth of imports that are being hit by terrorists could hurt global trade by half a percent in decline and i think that is some something that everyone is really worried about here at the moment because we are at one billion dollars right now by the way fifty fifty from both sides and the next around the two hundred. billion dollars worth of chinese imports that are being targeted by new sanctions from the americans they could hit consumers really hard and the consumers are still very important in engine for growth here off the economy so this would probably make everything even what exactly that two hundred billion is already what's being discussed this week so as you heard it there from so if you know just the effects on the u.s. economy but

mike rowe on growing jobs, the skilled worker shortage, and the state of the american economy. "power lunch" starts right now. >> materials and industrials have been the big laggards, and

the opinion that many people have for you right now i would like to see what the watchdog of the american economy basically is saying to that the federal reserve bank and they have been repeatedly warning of the negative impact on the american economy when it comes to these ongoing trade disputes and economists reckon that every one hundred billion dollars worth of imports that are being hit by tariffs could hurt global trade up by half a percent in decline and i think that is some something that everyone is really worried about here at the moment because we are at one billion dollars right now by the way fifty fifty from both sides and the next round the two hundred billion dollars worth of chinese imports that up. targeted by new sanctions from the americans they could hit consumers really hard and that kind of humor says still very important in engine for growth here off the economy so this would probably make everything even what exactly that's two hundred billion is already what's being discussed this week so as you heard there from so if you know just the effects on the u.s. economy but the

as well so the american economy can cope with this quite comfortably thanks very much unfortunately yeah if they had diplomatic relations there for between turkey the u.s. don't settle soon how do you think stave it could get for unclear from an economic perspective here. well i think if you could actually be false to the fulfillments for on balance because the main danger it has is running a huge current account deficit as well as having a large level of credit driven demand domestically now both us can draw very rapidly in a model so not so much of your happens in turkey that matters of what happens in europe because a lot of those loans be nice to borrow is buy buy french in particular looks at french and italian banks now some of those going bankrupt then the real pressure on donald trump to stop this could come from europe and not from turkey like it just expanding in your opinion what kind of measures do you think countries can take to make themselves perhaps less dependent on the u.s. dollar. well i think the

entire trading session so investors weren't worried about this threat in the end the american companies and the american economy and the american president just have more leverage so it is an unequal fight if you want to. can a foot away were damaged in turkey then the other way around and we saw that last week when he wound up tariffs on steel and aluminum turkey is not in a strong position right now so the american tech companies these two these companies that are a little more than favor raveling basically and the broader market even saw a little rally on tuesday with the start banging on strong learning. an equal fight you point out but can things get any worse in this dispute. yes i would say so and the reason for this is add on is not facing from one here who is actually trying to calm markets by taking a passive or cautious stance on things and that the white house is actually harming the already weakened country even more about it threatening more and more thanks and tariffs so the fall of the lira and the turkish economy are just collateral emmett's trump one fancy of the pastor andrew bronson free and

i would like to see what the watchdog of the american economy is saying, the federal reserve bank and they have been repeatedly warning of the negative impacts on the american economy when it comes to these ongoing trades. -- trade dispute. economies -- economists warn that these tariffs could hurt global trade by .5% and that is something that everybody is worried about here at the moment. we are at $1 billion right now. 50/50 from both sides if the next round, the $200 billion worth of imports being targeted for new sanctions from the americans, they could hit consumers really hard and the consumers are an important engine for growth of the economy, so this would probably make everything even worse. helena: british airways and air france will no longer be flying to iran, saying they are concerned about profitability. the announcement comes after the united states imposed fresh sanctions on the country. airlines are the latest and a string of european companies pulling out. others include carmakers. it apart or of those companies reducing the demand for flights. -- departure of those

that under the right policy that creates freedom of opportunity and incentives, we can grow the american economy at least at its historic rate, which, since world war ii, from more or less 1950 two the year 2000, we grew at 31 and i see no reason why we can't replicate that, with proper policies. larry kudlow, friday night at 9:15 eastern, on c-span, c-span.com or listen with the free c-span radio app. national security officials joined white house press secretary sarah sanders for today's press briefing. they talked about the ongoing influence of russia's campaign against american elections. this is about 45 minutes.

to have worked trade partners or trade disputes have been taking a toll on the country's economies not so much on the american economy and this way trump could literally bend their will and now china amongst others has lost some of their leverage and so the u.s. could come out of these talks on top of the situation and then interview only on thursday top economic adviser larry kudlow said talking is better than not talking but the timing of these talks is crucial and investors seem to believe just hit the sweet spot in regards to timing right and then what comes out of the talking of course now i've been reading that there. are results u.s. consumers in spending mode is that right. yes they absolutely funny and that by the way contributed significantly to the three digit gain off the dow jones as wal-mart was at more than ten percent in intraday trading it seems that wal-mart may see the best price fight against mighty amazon is not lost yet wal-mart saw remarkable growth in the online business forty percent last quarter and they also have a strong guidance so this is an important development for this retaile

in the 1950s the american economy into the boom period where a great wave of consumer products went watching out over the american population after the private nations of the great depression, the restrictions of world war ii and the 1940s, the rapid growth of consumer prosperity in the 1950s which was linked to the rise of the suburban middle-class, promoted an ethics it said the purchase of automobiles, comfortable split-level houses, two car garages, lawnmowers and washing machines, televisions, barbecue grills, leisure activities of all kinds, this is a key part of the american way of life. a signal of abundance, and abundance was the key to the good life in america. playgirl from the first issue in 1953 was heavily invested in the new consumer affect. it offered guidance to young men, a guidebook for young men, many of whom had a good job and good salary. they face the new cornucopia of goods. the guidebook on stylish clothing, fine liquor, good restaurants, new sports cars, that one should be familiar with. and to create a fashionable bachelor pad when his period -- the latest hi-fi eq

in the end, american companies, american economy, and the american resident have more leverage, so it'sn unequal fight, if you want. trump can cause way more damage in turkey than the other way around. we saw last week when he brought up tariffs on steel and aluminum, steel -- turkey is not in a strong position right now. it is a little more than saber rattling and the broader markets. there was even a rally on tuesday was stoxx crank -- gaining a strong earnings. fanny: can things get any worse in this dispute? sophie: yes, i would say so. the reason for this is donald trump. erdogan is not facing someone here who is trying to calalm markets by taking a cautious stance. instead, the white house is already harming the already begin to country even more by threatening more and more sanctions, tariffs. so, the fall of the lira and the turkish economy are just collateral damage. trump wants to see the pastor free. until he does get what he wants, he is going to put pressure on turkey. fanny: sophie scimansky in new york, thank you very much. in other stories, president nicolas maduro annou

hole wyoming the fed chief signaled that he expects to continue raising interest rates if the american economy remains robust powell also said that the fed needs to balance maximizing employment with keeping prices stable. so let's bring in our financial correspondent at the new york stock exchange jose jose luis to add who has a if seems that powell is resisting pressure at the moment can we then take it more hikes all coming. absolutely helen and investors thing two more will happen before the year and probably the most immediate one will come next the specially after polls as speech on friday but sixty eight percent of the market also sees an additional twenty five basis points increase by december contrary to president desires a chairman of the fed said in jackson hole what all hikes implemented so far contributed to the current as stability where there are no signs so far of overheating neither of inflation overshooting that said monetary policy is tricky i'm making money more expensive to past could be real the longest economic cycle in history one of the longest economic cycles in histo

reagan was slightly reelected with 49 states so the american people loved what reagan did for the american economylot of what donald trump has done is out of the pages of reagan's policies. different than reaganomics. trump is more of a populist but they both wanted the american economy to expand and boy, has it. host: the president has been critical of the chair jerome powell because he says he doesn't like the interest rates. is that appropriate? guest: there is a big debate about that. the president has the right to speak out about said policy. the president is the ceo of our national economy and why shouldn't he be able to express an opinion? everyone has an opinion about what the fed should do. if you watch fox business news are you watch cnbc, that is all they talk about. i think the president should weigh in. i happen to think the fed does not need to be raising interest rates now. we have 4.5% to growth and low inflation. that is perfect, that is what you want. ingorry that the fed is tak the punch bowl away from the party just on the party is getting going. goingis concerned that is to re

it was magic but it was real. >> on the big issues, the revival of the american spirit, the reignition of the american economyed beyond anyone's expectations. as for his critics, many still frustrated, even angry, but they do concede that ronald reagan leaves washington an enormously popular figure, and in this day and age that alone is an historic achievement. >> announcer: on the next "'80s." >> there is one sign the soviets can make that would be unmistakable. mr. gorbachev, open this gate. mr. gorbachev, tear down this wall. >> announcer: "the eighties." >> announcer: "the eighties." next on cnn. -- captions by vitac -- www.vitac.com >>> the only morality they recognize is what will further their cause. they reserve under themselves the right to commit any crime, to lie, to cheat. >> the russians are gearing up for war. >> the senate today approved a record $136.5 billion defense budget. >> the largest anti-nuclear protest in u.s. history. >> president reagan is now much more eager to meet with the new leader of the soviet union. >> do you have an agreement, mr. president? >> mr. gorbachev, tear down this

could this be good for the american economy? stated goal would be good for the american economy. is ultimately deals that reduce barriers to trade, both tariff and nontariff barriers, that is a good thing for the u.s. and global economy. the question is whether they can be successful in executing the strategy. so far they haven't been. they haven't actually gotten a deal with anybody. they stopped having a worth europe. they have stopped -- a war with europe. they have stopped having a war with canada next go for the moment. we are still actively litigating a trade war with china. if they can get a mexican deal, that would be evidence in favor of the strategy that would give markets and businesses or confidence on what the administration is up to. shery: nothing a compost so far, and yet if you want to rectify trading balances with the year -- nothing accomplished so far, and yet if you want to rectify trading balances with the rest of the world, with this be the perfect time to do so? guest: it is the same thing as saying this

the chaos that. so then they decide they will lecture us on the economy. but trump understood something very profound from world war ii from 2016 we used the american economy toca prop up so if we needed your help so for a very long time it made perfect sense of the soviet union was our major competitor because we were half the world economy we are the one country that had not significant any and we could afford to be generous. over the last 25 years that has all disappeared we agreed to work with the chinese with theo hopes they would become part of a rule-based modern system. the director of national intelligence said two years ago the chinese stole $460 billion of intellectual property and one year. . . . . if we put ourselves first we are formidable and a little bit frightening. trump has a deep belief in his of the body to learn and negotiate and one of the things people in the washington press corps that doesn't get as he listens to everybody. so when he was in saudi arabia he was with him after three days of. i wonder what i should do about this to the staffers, three from the brookings institution and the american enterprise institute inviting a pa

hole wyoming the fed chief signaled that he expects to continue raising interest rates if the american economy remains robust powell also said the fed needs to balance maximizing employment with keeping prices stable let's bring in our financial correspondent in frankfurt he is very interesting watching these two having these indirect a very public squabble about how to run an economy especially when trump was the one who had and power wasn't me. yeah exactly i mean when he decided to nominate powell and let janet yellen the previous has to go donald trump could not praise his candidate enough and now this what he has said is really like an open criticism of his own candidate by the way powell was way more careful today he did not criticize the u.s. president openly trump is war you have to remember that that for interest rate hikes could harm the boom off the united states that we have seen lately and he wants the dollar on a lower level now just some weeks before the mid-term elections in november trump needs mostly one thing and that is good half line and trump might be a good deal maker or

, with argentina taking 60%, he's buying american stocks and it shows the excellence of the american consumer, the american corporations and the american economy. >> consumers are out which he was very positive on >> if you look at it, he's not buying the market, he's buying specific stocks. look at the valuation. you mentioned delta. delta is ten times earning he's buying bank of america. 12 times earnings. look at the stocks you go down his list, coca-cola, all these companies that consumers are behind him strong balance sheets and growth ahead of them. it's a stock market. we talk about that a lot are you buying the market or specific stocks. what he's saying i'm going in and buying specific stocks that i like >> i think it's worthy, pete, of having a conversation on whether we do think that the stock market is too expensive or not it's the very first quebecy asked mr. buffett how would you have answered it had you been sitting in that chair. >> there's aspects of the market that are probably over bought. take a look -- when you look at the recent moves he's made, goldman sachs, that's not performed very well this year. that fits mr. buffet

regulation so we have a good six and half years or mike penn takes over we have a longer run that the american economy may not grow at a soft rate so do you think that perhaps part of the solution could be making the regulatory reform permanent by requiring constitutionally that regulation have to be approved by congress or deed you hear of an effort endorsed for a concert and mike penn was the first to support that that if you get to the every time that had happened with the bill of rights congress proposes that without a convention what do you think about that? i have heard of that it is tough to get a constitutional road you have to get t massive support that we have already made progress in fact if we get judge kavanaugh approved with five members of the supreme court d-uppercase-letter the fourth branch of government has gone too far there is called chevron deference to the decision the agency and now judgesnc think it's not a good idea. so this approved court would bring a the fact is something that woodrow wilson propose and teddy roosevelt began to implement and wilson came into contact with t

american men came to maturity thinking a women came with a staple in their stomach. but now to be less recognized and then with the travelers on -- from the century. and the american economy where the great wave of products were washing out over the american population this to place after the great depression of the 30s from the restriction of world war ii and that rapid growth the disparity in the 50s which was linked to the rise of the suburban middle-class that said the purchase of automobiles with that comfortable split level house in the two-car garage and televisions and barbecue grills and leisure activities of all kinds. this is a key part of the american way of life this was the abundance to the good life. plea boys from the very first issue was heavily invested. it rarely offered guidance to young men many of whom had a good job and a good salary for the first time as they face is new consumer cornucopia of goods. with stylish clothing and liquor and good restaurants in the new york times sports cars with books and movies. and to be familiar with and to create a fashionable bachelor pad with the hi-fi equipment now this mindset is pretty easy with the critic in

the entire trading session so investors weren't worried about this threat in the end american companies and the american economy and the american president just have more leverage so it is an unequal fight if you want charm ten afflicts way more damage entergy than the other way around and we saw that last week when he brought up tariffs on steel and aluminum turkey is not in a strong position right now so the american tech companies these two these chemical companies they are a little more than saber rattling basically and the broader markets even saw a little rally on tuesday with the stocks gaining on strong earning an equal spot as you point out but can things get any good in this dispute yes i would say so and the reason for this is the most added one is not facing someone here who is actually trying to come markets by taking a passive or cautious stance on things and says the white house is actually harming the already weakened country even more by threatening more and more sanctions and terror of so the fall of the lira and the turkish economy are just collateral damage from one to save the pastor andrew

a deal in the interest of the american economy and american workforce. >> nowhere near the largest, itn a deal. >> canadians really ought to look at what the u.s. and mexico just completed. as an example of what can be done if there's good faith negotiating. >> he says he can get canada to step in and do a deal in a day? no. no, he can't. >> said we couldn't do a deal with mexico. we've done one. they said it couldn't possibly

he's actually benefiting the american people and the american economy on protocols and on.orkers, going back to work. how about apple. trillion dollar market cap. he's making progress because his policies are making progress. lou: we have a trillion dollar corporation. but to me it's more powerful to see a president keeping his promises and who promised in the campaign for the office he hold that he'll bring prosperity to all americans. he said that over and over and over into the minority communities he said what have you got to lose. typically the target and the tool of the left. and have been promised so much and delivered so little by the dems. this president almost single handedly turned that around and is delivering. >> we see this on trade with china. for many many decade, americans presidents have had an inadequate response to china's stealing of u.s. intellectual property. lou: $600 billion a year of intellectual property being stolen by the chinese. >> and there are other problems with u.s. companies being taken advantage of in china. what we have is president tru

he's actually benefiting the american people and the american economy on protocols and on.teel workers, going back to work. how about apple. trillion dollar market cap. he's making progress because his policies are making progress. lou: we have a trillion dollar corporation. but to me it's more powerful to see a president keeping his promises and who promised in the campaign for the office he hold that he'll bring prosperity to all americans. he said that over and over and over into the minority communities he said what have you got to lose. typically the target and the tool of the left. and have been promised so much and delivered so little by the dems. this president almost single handedly turned that around and is delivering. >> we see this on trade with china. for many many decade, americans presidents have had an inadequate response to china's stealing of u.s. intellectual property. lou: $600 billion a year of intellectual property being stolen by the chinese. >> and there are other problems with u.s. companies being taken advantage of in china. what we have is preside

unleashed american energy and we are now exporting energy has never before and president trump just before christmas signed the largest tax cut and tax reform in american history. and this economy is ruling as a result. it really is remarkable, nearly 4 million jobs created since election day, unemployment setting new records, the president and i could not be more proud, we have set new records, the lowest unemployment rate ever recorded for african americans and hispanics. the american dream is working again. for every american. and those 401(k)s, those pension funds are getting stronger every day. has grown byket nearly 40%, and just this last week on the front pages of papers around the country there was news, the longest running bull market in american history. and you saw the second-quarter numbers, and reminded me of an event like this in new york city. 2016, thetember of republican candidate asked me to join him at the economic club of new york. indiana from southern it was a fancy deal. man from southern indiana was a fancy deal. we were in the fancy back rooms, and there it was, he was looking at the speech and he got to the part where he said we are going to cut taxes

how the american dream was being destroyed after eight years under president obama and presumably 4 or 8 years under hillary clinton, for economy, for the american people in general she would have been a disaster and one of the most important things she would be right now appointing to the united states supreme court judge who is regard the constitution as a black board, something that you can erase what it says and write whatever you want rather than the -- than the talented strict constructionist judges that president trump is now able to appoint, regulations would be worse, not better than they are. businesses would remain scared to death. literally, on the day of the election, business optimism went like this, the national federation of independent businesses does what's called the business optimism index and it went up like 3.5%. it's been at historic levels ever since right after the election. attacked to some -- i talked to some of the franchisees, we haven't done anything yet, what's with the optimism, and the response that i repeatedly got, andy, we are not waking up at 3:00 o'clock in the morning wondering what massiv

the american economy may not grow at its optimum rate until we cure that problem. i like to ask if you think perhaps part of the solution could be making trump's regulatory reforms permanent by requiring constitutionally the regulations, major regulations have to be approved by congress instead of dictated by the bureaucrats and whether or not you heard of an effort that's been unanimously endorsed by the rnc with the approval of the white house for a constitutional amendment called the regulation freedom amendment, which has been endorsed and mike pence was the first governor which would require regulations be approved byby congress. the theory being if you get two thirds of the states in miniature the public for an amendment come every time that has been asserted with the bill of rights, congress has proposed the amendment without a convention. what should you thinknk of the idea of making regulators accountable? >> is a tougher to get a a constitutional amendment come even one that's popular if you have to get massive supporter. we've already made a lot of progre

the american economy may not grow at its optimum rate until we cure that problem. so i'd like to ask if you think that perhaps part of the solution could be making trumps regulatory reforms permanent by requiring constitutionally that regulations, major regulations, have to be approved by congress instead of dictated by the bureaucrats and whether or not you've heard of an effort that's been unanimously endorsed by the rnc with the approval of the white house for a constitutional amendment, the regulation freedom amendment which would require that regulation be approved by congress? the theory being if you have two thirds of the states and the majority of the public, every time that happened, starting with the bill of rights, congress has proposed the amendment without a convention. wonder if you heard of it and what you think of making regulators accountable? >> i've heard of it. it's a tough road ahead and getting an amendment even on one that's popular. i think we've already made a lot of progress in that respect and will get more if we get judge brett kavanaugh

the single thing that they should be con -- concentrating on. the economy is booming after 8 years of torture in obama years. they rolled back regulations, liberated the americanthink there is a flag flying out there and that is trump has died today use tariffs, try to force changes in the chinese economy and the simple question is, is this tool, the tariff war right tool to change the chinese because they just this week said they would retaliate with tariffs on over 5,000 american goods. there's a risk factor no question built into this. >> a game of chicken, paul. paul: and somebody loses. >> right. paul: thank you all, still ahead a look at midterms election has new poll indicate that is trump may be losing support in the battleground states of the midwest. felt great not having hepatitis c. it's like a load off my shoulders. i was just excited for it to be over. harvoni is a revolutionary treatment for the most common type of chronic hepatitis c. it's been prescribed to more than a quarter million people and is proven to cure up to 99% of patients who have had no prior treatment with 12 weeks. certain patients can be cured with just 8 weeks of harvoni. bef

work their way through, but he will see it, and he'll do what, in his judgment, is best for the american economy over time there isn't any question about that, and maybe he'll make mistakes i know i'll make mistakes, but he knows what his job is and he'll do it. >> the president also tweeted about another initiative, and i just wondered what you thought about it he said after speaking with indra nui, she was the one who talked with him he'd like to do something that helps american business, stop reporting every quarter, maybe do it on a six-month basis. what do you think of that idea you focused on long-termism. >> jamie diamond and i came out a while back, but i always focused on the idea, "a" i like to read quarterly reports as an investor and we've got a couple hundred billion dollars worth of common stocks, so i like to get those quarterly reports. i do not like guidance, and i think the guidance leads to lots of bad things and i've seen it lead to lots of bad things i don't think quarterly reporting itself -- it's when you get into promising people what you're going to do every quarter. i c

right policies which provide economic opportunity and freedom and incentives, we can grow the american economy historic rates. which, since world war ii, 1950-2000. we grew at 3.5 percent a year after inflation. i see no reason why we can't replicate that with proper policies. >> larry kudlow friday night at 9:15 p.m. eastern on c-span, c-span.org or listen with the radio app. senate confirmation hearings for brett kavanaugh to be a supreme court justice are expected in september. senators are likely to question judge brett kavanaugh about roe v wade that struck down many restrictions on abortion but on tuesday 8:00 p.m. eastern, an in-depth look at roe versus wade. supreme court reporter david savage discussing judge cavanaugh's nomination and the abortion issue. >> members of the trump administration's national security and intelligence team talked about there efforts to combat election interference by foreign entities including russia. they spoke at today's white house briefing. >> as director of national intelligence, i would like the american people to know that the intelligence community

. >>> mixed news tonight on the american economy while employers added 157,000 employees in july, the pace of hiring slowed, though unemployment fell to 3.9%. in the meantime, the trade war with china is escalating with china today striking back. nbc's tom costello reports how it's hitting home for american families and businesses. >> reporter: on the dock in new england, the trade war is hitting twice as hard. the steel used to make the traps. riverdale mills in massachusetts is feeling the punch and counter punch as steel prices have doubled. so far, no layoffs. >> if we can't buy raw materials at the right price, we're unable to export. because we can't be competitive in these foreign markets. >> reporter: today, news that even more businesses could pay the price with china warning of another $60 billion in tariffs. targeting more than 5,000 u.s. products. everything from coffee to furniture to auto parts. already millions of bounds of beef, pork, poultry and turkey meant for export are piling up in u.s. freezers. this latest chinese move in retaliation for proposed u.s. tariffs on

the us i don't feel very good about these steps taken by the trump administration hurting the american economy not in the short run certainly in the media many little run i think it is not just a turkish american problem good opinion and also uncomfortable with these steps being taken by the united states what these steps are telling us is that there is a need for a very deep transformation of the international trading system these problems are pushing that turkey or chicken most other alternatives and this needlessly getting closer and closer links russia. american chemical giants monsanto has suffered a major blow after losing a lot mark trial over claims its best selling weed killer causes cancer a u.s. court ruled the company was responsible for the terminal illness of a school grounds keeper the jury unanimously agreed that monsanto acted with malice and ordered them to pay almost three hundred million dollars in damages the case could set a precedent for thousands of other claims against the chemical giant dewayne johnson who was diagnosed with hodgkin's lymphoma in twenty fourteen ses h

in the us are also very devout these are steps taken by the truckload ministration hurting the american economy not in the short run certainly in the media many little run i think it is not just a turkish american problem good opinion and also uncomfortable with these steps being taken by the united states what these steps are telling us is that there is a need for a very deep transformation of the international trading system and these problems are they're pushing that turkey or chicken motor other alternatives and this means mostly getting closer and closer links. a school grounds keeper in the u.s. has successfully sued the chemical giant months santo a california jury ruled that the company's weed killer gave to wayne johnson terminal cancer and ordered monsanto to pay him two hundred eighty nine million dollars in damages and the case it could set a precedent for thousands of other claims against the chemical giant and to do wayne johnson says it's much more than a personal victory. since beginning this case i received a lot of support and a lot of thank you and a lot of prayer and a lot o