the interest centrally the treasury used to be the central bank the federal reserve broke the treasury off to put money creation in the hands of wall syria or that. put put the treasury in control once again write the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money creation is different purpose for from private bank money is going to leave it there dr michael hudson thank you. alan us an idea for this edition of the kaiser report with me max kaiser stacy i would like to thank our guest dr michael hudson if you want to reach us on twitter it's kaiser report and flex time . i don't. see people. suffering always in the detention center the libya is one that did thirty percent of the responsibilities of coming from one country to seventy one of the seventy percent is coming from an area i think that we have to see that we have to discuss how to im

last night, another thing that the treasury secretary said is that the tax cut now planned in the house and senate will pay for itself. he said even if we only get 40 or 50 basis points more on economic growth, this will pay for itself or words to that effect. is he right? could he be right? is there a scenario in which he's right? >> could it turn out that growth accelerated? yes, it absolutely could. if you were about to flip a die and i predicted that it was going to come up 12, i could turn out to be right, but it would be a crazy prediction. and i don't think there is any rational basis for the judgment that the tax cut will pay for itself. there is nothing in the experience of past tax cuts nor is there anything in the experience of a large number of modeling exercises that suggests that this tax cut would pay for itself. i read carefully, greg, what the secretary said here last night. and he said that the treasury had published a study that had a publication that demonstrated this. we have sought to receive that publication. and there is no publication. there's just no publicatio

the treasury curve gets even flatter. e difference between short and long-term yields is the narrowest in a decade. and it is a research at the end of the week for credit. a long correction, at least for now. we begin with the big issue. is there a signal in the treasury market? >> the fed operating on the short end of the curve, global markets operating on the long end of the curve. i don't think it is that problematic, but it is telling us that there are different players in different parts of the yield curve. >> it is not just the shape of the u.s. curve. it is the differentials in other curves as well. that, to some degree, is a testament to the influence of other central banks beside the fed. >> the rest of the world is still printing money. ecb, bank of japan. the ecb has promised us they will do that until september of next year. all of this money is hurting duration and credit risks. they ultimately end up in the u.s., and that is a very important driver. >> one of the weirdest things as -- about the curve flatteni

top officials from the treasury department who are responsible for implementing sanctions testified onthe trump administration's priorities. and evaluated sanctions currently in place. on russia, venezuela, north korea and iran. we join the hearing in progress. >> now, another question i have. as part of the omnibus package that was passed earlier in the year, we requested that the treasury department issue a report on entities that were delisted under the jcpoa and whether they have engaged in sanctionable activity since the jcpoa and we have not got that result yet. so if you could help us there. so what is the status of that report, and do you feel that any entities that had their sanctions lifted under the jcpoas have continued to engage in activity since the deal began to be enforced? >> so we continue working on those reports, as we said. we have about 90 a year we're working on, and most of those we get in on time. some are more difficult, because they're time-consuming. if we see sanctionable activity, if we see sanctionable conduct, we act against it. >> okay. mr. chairman, i

the interest centrally the treasury used to be the central bank the federal reserve broke the treasury off to put money creation in the hands of wall syria or that. put put the treasury in control once again write the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money create. different purpose for from private bank money can live there dr michael and thank you. allison if this initial the kaiser at par with me max kaiser stacy i would like to thank our guest dr michael hudson if you want to reach us on twitter as kaiser apart and like signed by all. apply to many clubs over the years so i know the gang and so i got. the ball isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the super money billionaire owners and spending to get to twenty million. it's an experience like nothing el

mark: the u.s. treasuryent international affairs wing is responsible for promoting american interest lly abroad. there's a new undersecretary in that position and he is with the bloomberg's economic policy correspondent michael mckee. much.l: thank you very joining us is david malpass. let's start with china. the president is in asia and heading for beijing. he has made nice with jews in xi jingping. stat what is the state of the relationship? david: if our markets are open for you, you should have markets open for us. that has been a styling block. i really think acrimony is too strong a word. doing ispresident is making sure we are secure and improving our security in asia. that spans asia. with china, really pushing on the idea of fair reciprocal tape. trade. michael: you said china's economic liberalization used to be powerful, but we are worried that it has stalled or worse. what has stalled? what has reversed? what are you going to do about it? david: quite a bit has stalled. their liberalization was i

is there a message in the treasury market? e yield curve is in the -- near the flattest level in a decade. we begin with the big issue, junk-bond pain. >> high-yield securities a difficult market at the moment anyway. >> is this a couple of isolated cases or the start of something broader? right now, it still seems more isolated. >> clearly the tax package will create winners and losers. >> tax reform has to happen. if it doesn't happen, it gets ugly. stock markets get ugly. everything gets ugly very fast. >> it is no longer a green light for credit markets. it is more yellow. clearly, there are still some companies with decent fundamentals, but there is a lot of sectors or more sectors under pressure. >> you're not getting paid an awful lot for full risk. as an investor you have to be careful. buying quality. these days when the markets rollover it feels volatility needs to rise. maybe that is what we are seeing. >> my concern is what if the market starts to price real andmism around a tax deal the 10-year goes to 2.60? that c

from the longer end of the treasury curve. put all of this in context, yes, the curve is a plaque. at some point, it will become a concern for the fed if it does get to be too flat. one, it will really hurt bank profitability. two, as an investor if you look at the curve, you are not getting adequately compensated for taking risks. jonathan: we have this classic flattening. i wonder whether it is the message for the fed to slow down. does that have to be their takeaway? henry: i don't think so. in my guess the curve will probably end up shifting higher. that will be a source of volatility. one of the most underappreciated risks in the market today is inflation. not ready to give up the supply and demand of labor will push prices higher. we expect things to happen sooner than they actually do. i think we probably see the move higher. your point about the curve, whether it is funds, two's, ten's, it does not move as if they think the fed is crediting rates. but they are. the main signal, watch out. there is too much risk. there

here at the u.s. treasuryth secretary steve mnuchin on bloomberg television and radio worldwide, also on the bloomberg terminal. thank you for joining us. bad news in the headlines this morning here at republicans did not do well in the off year elections. given that a lot of people told exit polars they did not like this health care reform and when you go in with less than 50%, does that change your strategy? sec. mnuchin: not at all. i am not concerned about that. there is big concert -- support for middle income tax cuts and making our business tax system competitive with the rest of the world. that is what this is about. michael: the senate is apparently considering a one-year delay in implementing corporate tax cuts to make the math work. is that acceptable to the administration? sec. mnuchin: our preference is that the corporate tax rate starts next year. the longer we wait, the worse it is for the economy in making companies competitive. michael: but you do not rule it out? sec. mnuchin: the president's

he has decided to break the tradition of former treasury secretaries not criticizing the current treasury trying to do everything he can to stop congress from passing the worst tax legislation he has ever seen. larry summers joins us next. patrick woke up with a sore back. but he's got work to do. so he took aleve this morning. if he'd taken tylenol, he'd be stopping for more pills right now. only aleve has the strength to stop tough pain for up to 12 hours with just one pill. tylenol can't do that. aleve. all day strong. all day long. well, it'sonce again.eason >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one e

he has decided to break the tradition of former treasury secretaries not criticizing the current treasuryause he is trying to do everything he can to stop congress from passing the worst tax legislation he has ever seen. larry summers joins us next. my experience with usaa has been excellent. they always refer to me as master sergeant. they really appreciate the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are usaa members for life. usaa, get your insurance quote today. if yor crohn's symptoms are holding you back, and your current treatment hasn't worked well enough, it may be time for a change. ask your doctor about entyvio, the only biologic developed and approved just for uc and crohn's. entyvio works at the site of inflammation in the gi tract and is clinically proven to help many patients achieve both sympt

the interest of a centrally the treasury used to be the central bank the federal reserve broke the treasury off to put money creation in the hands of wall syria or that. put put the treasury in control once again write the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money creation is different purpose for from private bank money is going to leave it there dr michael and thank you. alan us an idea for this edition of the kaiser report with me max kaiser stacy i would like to thank our guest dr michael hudson if you want to reach us on twitter it's kaiser report and next time. in terms of foreign policy donald trump has already earned himself the title the low expectations president this title is now being put to the test during his tour of asia because the u.s. is status quo power in the asia pacific region. for oil challenging china. they all. fell.

the interest centrally the treasury used to be the central bank the federal reserve broke the treasury off to put money creation in the hands of wall syria or that. put put the treasury in control once again write the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money creation is different purpose for from private bank money is going to leave it there dr michael hudson thank you. alan us an idea for this edition of the kaiser report with me max kaiser stacy and i thank our guest dr michael hudson if you want to reach us on twitter it's kaiser report and flex time. while. most people think just stand out in this business you need to be the first one on top of the story or the person with the loudest voice of the biggest raid in truth to stand down and lose business you just need to ask the right questions and demand the right answer. question. wel

the treasury at a two-year. look at this aggressive widening we have seen throughout the year so far. we are north of 240 basis points on a two-year spread. i have been asking if there is oxygen left? can the fed continue governor loans? lisa: normally when you have the u.s. tightening, or one central doestightening and another not, you have people go into the dollar or the currency of the banks that are tightening. if that is not happening, you are not have the stronger dollar as the headwind. the fed can keep hiking, it will not necessarily d balance the economy, even if eurozone keeps up with its policies. jonathan: i do want to turn to allen higgins. it is always great to catch up with you. it has been far too long for you and i. we have been talking about the front end of the yield curve. first is to year and the u.s. treasury to year. it is north of 240 basis points. my question is whether the federal reserve can continue and whether it will continue to get wider? >> nice to talk to you. we think it will co

the best overall entry. for more information, go to our website student can.com. >> former u.s. treasury secretary larry summers who served in the clinton and obama administration talked about the republican tax reform plan during the wall street journal annual ceo council meeting here in washington. he also talked about the trump administration trade policy. his remarks are about 30 minutes. >> thank you larry. we're going to start off with the question, like in the other sessions. can you please put the question up on the smart phone? we will ask you what you think economic growth will be over the balance of this and the next trump term. then we will come back and compare those answers to a macro economist who happens to be here answering questions. larry, i will start with the subject that should be near and dear to your heart. , you in one way shape or form had to do with why the united states ended up in nafta, the create u.s. trade agreements, and the partnership. we now have a president at the administration who believes all those things were mistakes in the u.s. has been a loser

the treasury off to put money creation in the hands of wall syria or that. put the treasury in control once again right the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money creation is different purpose for from private bank money is going to leave it there dr michael hudson thank you. alan us an idea for this edition of the kaiser report with me max kaiser stacy i would like to thank our guest dr michael hudson if you want to reach us on twitter it's kaiser report and next time . we all willingly accepted the risk of being shot wounded taken prisoner but noone signed up to the flag and poisoned by our own people of seeing stuff that was nuclear biological and chemical products the said do not truck tires all types of styrofoam all polystyrene these batteries trucks there was a complete denial i think at all levels o

this is the worst of any of the treasury forecasts as well. what is causing it? ly, everyone is implying it's about brexit. but it isn't. the obr has decided that our productivity and growth potential is weaker than had been thought. since the financial crisis, it was assumed that our growth would bounce back to 2.596, that our growth would bounce back to 2.5%, but that hasn't happened. that's why the growth forecast is bad and borrowing is up, and why the outlook is bleak. let's look at some of the positives. a helping hand for first—time buyers, but even then, experts are saying, it's not as good as you think. another surprising thing about the budget, other the fa ct thing about the budget, other the fact that philip hammond cracked a few jokes, fact that philip hammond cracked a fewjokes, such as saying that he'd asked the prime minister to bring him some cough sweets. he looked really ha p py him some cough sweets. he looked really happy about that. he did. the stamp duty announcement was one of those that had been widely rumoured that it might come about. th

the company sold that across -- yielding one percentage point. u.s. treasury3 billion of 10 year notes at 2.314%. the demand and the yield at the lowest levels since september. still with me is henry peabody, subadra rajappa and ashok bhatia . let's bring up the chart of the week. for many it is the chart of the year. many people thought it would get steeper. a lot flatter, the yield curve. take your place in looks something like this. a bounce over the last couple of days, but the trend is pretty clear. what is the signal, the message that comes out of that chart? subadra: you have to look at the yield curve and context of the current market environment. you have technical factors like the treasuries refunding announcement last week. they will be focusing more on issuance. that puts pressure on the backend of the curve. a rallying on the backend. you also have some longer-term secular trends that are keeping bond yields at the long end of the curve in check. demographics is an important thing for considering. you also have the savings g lut, entremed is the m

that occurred last week for the state of connecticut that was issued by the undersecretary of the treasury. it concerned a terrible problem that has swept through the state best known as crumbling foundations. due to some outstanding journalism that took place over the last couple years, tv porter by the name of george collie jr., carolyn whdid a series on this problem, the journal enquirer, eric, who has been consistently reporting on this issue, it came forward and was flushed out to the pubc that a quarry up in north central connecticut was supplying aggregate concrete for homes over the last 30 years that contain the material known as pyrotite. it's a metal substance which when exposed to moisture over a period of time oxidizes or rusts and creates a sickening spider web crain that ultimately compromises the foundation on homes. estimates run as high as 19,000 homeowners again who unknowingly have this form of concrete that threatens, again, probably their family's biggest asset, namely their home. again, as you can see in this picture, this is an example of a home in connecticut where

i told the director that we expect -- the treasury expects to get the dividends and expects to be compensated. the taxpayers have a large exposure. these companies couldn't exist without that and that's why we are being paid the dividends. we want a permanent solution. we are not look at keeping these the way they are for the next 8 years the way the obama administration did and use the money as you said for other things. maria: we should expected change in that. >> that's something i expect we'll be doing on a bipartisan basis. there is a lot of interests on both sides. we had a bunch of preliminary conversations. that will be a big focus of mine for next year. maria: reaction now from a top ceo coming after this. stay with us. hi, i'm the internet! you know what's difficult? armless bowling. ahhhhhhhh! you know what's easy? building your website with godaddy. get your domain today and get a free trial of gocentral. build a better website in under an hour. maria: we just heard from secretary mnuchin and his plan for tax reform. real estate giant don peebles, ceo and you found irv peebles cor

we can't wait but up here first, a new meaning to money problems, social media slamming the treasury boss and his wife over this photo op, is it deserved? is it all the bashing over-the-top? >> the best things in life are free, but you can give them to the birds and bees. i want the money. last thanksgiving about 2 million people tried to deep-fat fry their turkey. 15 succeeded in setting their houses on fire. at christmas, there was a lot of driving over the river and through the woods and a little bit of skidding on the ice and taking out grandma's garage door. so while you're celebrating, allstate will be standing by. trouble never takes a holiday. neither should your insurance. that's allstate's stand. are you in good hands? ♪ we create machines that make every experience more real. because the best feature of a pc gaming machine is the power to make you forget it's there. shop our lowest prices ever at dell.com. ( ♪ ) >> dagen: coming up it was supposed to promote the brand new dollar but treasury secretary mnuchin and his wife stirred up a frenzy on social media with these photo

we can't wait but up here first, a new meaning to money problems, social media slamming the treasury boss and his wife over this photo op, is it deserved? is it all the bashing over-the-top? >> the best things in life are free, but you can give them to the birds and bees. the birds and bees. i ♪ the birds and bees. i ♪ this holiday season, families near you need your help. visit redcross.org now. >> dagen: started out as a normal photo op, but quickly became a social media sensation. the internet losing it after treasury secretary steve mnuchin and his wife posed with the new sheet of dollar bills, featuring the treasury chief signature, lee, an overreaction? >> lee: it's hard not to react when you see something like this in some ways it's a self- inflicted wound with all of her twitter and everything she's done before a lot of people saying look at her grabbing the money but it's a distraction. let's stop talking about this she shouldn't have even been thereafter having the whole twitter storm we had around her hash tag why would anyone allow her into that photo op right now >> dagen

i told the director that we expect -- the treasury expects to get the dividends and expects to be compensated. the taxpayers have a large exposure. these companies couldn't exist without that and that's why we are being paid the dividends. we want a permanent solution. we are not look at keeping these the way they are for the next 8 years the way the obama administration did and use the money as you said for other things. maria: we should expected change in that. >> that's something i expect we'll be doing on a bipartisan basis. there is a lot of interests on both sides. we had a bunch of preliminary conversations. that will be a big focus of mine for next year. maria: reaction now from a top ceo coming after this. stay with us. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we d

you have technical factors like the treasuries refunding announcement last week. l be focusing more on front and issuance. that puts pressure on the backend of the curve. a rallying on the backend. you also have some longer-term secular trends that are keeping bond yields at the long end of the curve in check. demographics is an important consideration. you also have the savings glut, and tremendous demand from overseas accounts. if you put all of this in context, yes, the curve is a plaque. at some point, it will become a concern for the fed if it does get to be too flat. one, it will really hurt bank profitability. two, as an investor if you look at the curve, you are not getting adequately compensated for taking risks. jonathan: we have this classic flattening. i wonder whether it is the message for the fed to slow down. does that have to be there there -- their takeaway? henry: i don't think so. in my guess the curve will probably end up shifting higher. that will be a source of volatility. one of the most underappreciated risks in the market today is inflation

i told the director that we expect -- the treasury expects to get the dividends and expects to be compensatedompanies couldn't exist without that and that's why we are being paid the dividends. we want a permanent solution. we are not look at keeping these the way they are for the next 8 years the way the obama administration did and use the money as you said for other things. maria: we should expected change in that. >> that's something i expect we'll be doing on a bipartisan basis. there is a lot of interests on both sides. we had a bunch of preliminary conversations. that will be a big focus of mine for next year. maria: reaction now from a top ceo coming after this. stay with us. jackie: as an 18 year old, i let my mistakes kind of take over my life. i was point-five credits away from completing high school and i didn't do it. angela: i got pregnant and i was the main one working so, i did what i had to do to survive. jocelyn: sentía que la escuela no era para mí. karim: most of my family they never graduated high school or even let alone go to college so i'm trying to break that barrier.

i told the director that we expect -- the treasury expects to get the dividends and expects to be compensatedthe taxpayers have a large exposure. these companies couldn't exist without that and that's why we are being paid the dividends. we want a permanent solution. we are not look at keeping these the way they are for the next 8 years the way the obama administration did and use the money as you said for other things. maria: we should expected change in that. >> that's something i expect we'll be doing on a bipartisan basis. there is a lot of interests on both sides. we had a bunch of preliminary conversations. that will be a big focus of mine for next year. maria: reaction now from a top ceo coming after this. stay with us. liberty mutual saved us almost eight hundred dollars when we switched our auto and home insurance. with liberty, we could afford a real babysitter instead of your brother. hey. oh. that's my robe. is it? you could save seven hundred eighty two dollars when liberty stands with you. liberty mutual insurance. and the wolf huffed like you do sometimes, grandpa? well, when y

look at the amount of treasuries had by turkish held by china, it has risen significantly, in the last 6-7 months. what i continue -- will that continue? >> that's an important question. china buys treasuries, because there's not a lot else for them to buy. bond yields shy -- are just shy of 40%. in germany, less than a quarter of that. it's from the chinese point of view, their reserves -- if they have accumulating reserves again for the past 6-9 months, reserves go up. they buy dollars, treasury. -- treasuries. this is not something we need to be concerned about. china has sold treasuries, and yields still fell. the best thing we can think about is what's going on in the u.s.. and, of course, later today, tax reform. >> thank you. francine lacqua in zurich. we are thrilled to have mark chapman with us. let me tell you about some of the events we will do here in eric nymex coverage. announcement by the president of the united states for the chairman of federal reserve's. powell late in the economic club of new york, goes after the inflation -- a conversation at 2:00 p.m. with a former

we can't wait but up here first, a new meaning to money problems, social media slamming the treasury nd his wife over this photo op, is it deserved? is it all the bashing over-the-top? >> the best things in life are free, but you can give them to the birds and bees. i it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited.

i'm joined by liz truss, who is philip hammond's deputy chief secretary to the treasury. d, her labour opposite number. we'll come to you in a minute. let me start with liz. can we start on that housing, the office for budget responsibility say on the stamp duty measure, the main gainers from the policy are the people who already own property not the first time buyers themselves. because your measure will push up the prices, so the owners benefit not the buyers. i think lots of people are struggling to get on the housing ladder, there are many people in that 20s and 30s who previously would have been able to buy a home, now finding it much more difficult and of course, we need to increase the supply of homes and that is what the measures are about and getting up to 300,000, but we felt it was necessary to do something now, to help those who have struggled for a number of years, people will not have to pay the tax up people will not have to pay the tax up to 300,000. there will be a reduction. that is cash that you do not have to pay to the taxman. but you not have to pay t

can you give us any insaying so what the additional sangses may be. >> i'd like to leave it to treasury to announce those tomorrow. they're similar to sanctions we have taken in the past. just going out more broadly to more entities. i'd like to leave it to their announcement tomorrow and not jump the gun on them. >> you see today's announcement as more symbolic or something that has a lot of teeth to it. >> i think it is very symbolic on the one hand because it just points outs again what a rouge regime this and is how brutal this regime and is how little they care for the value of human life. so i think if -- in that of itself i think makes a strong statement, just the nature of this regime, and the practical effects may be limited but hope any we're closing off a few loopholes with this. >> thank you, mr. secretary. if china does not agree to cut off oil to north korea, how can you possibly get enough pressure on them to come to the table? >> their fuel supplies are already quite constrained. we have evidence that there are fuel shortages in north korea. obviously the civilians are b

the idea that yes treasuries are lower, but there may be more coming to the market?es we will add to the deficit? yes, the federal reserve will be pulling back as well, but it's too soon to price that in? mr. gartside: it's fairly too soon, but there's also a global phenomenon, which is austerity is dead and other countries are likely to turn the fiscal taps on. all things being equal, when you look at markets, it could will be they are still underestimating the potential for central-bank activity. not just in the u.s., the back to earlier comments, in places like europe. there's a huge consensus that the ecb will never move rates again. the reality is when you look at europe, you have superstrong growth in europe. the risk is the ecb actually pulls forward the possibility of rate hikes. jonathan: nick, what is the bank of england doing hiking this week? mr. gartside: they did the right thing in terms of hiking rates. when you look back, the current post the referendum was clearly a policy mistake and the when you look back, the current suggestion then was the u.k. w

isunder pressure because of the treasury yields but the tax story has been strong -- in treasury yieldsunder pressure because of the treasury yields come up the tax story has been strong. also, there is no time limit now thethe repatriation unlike and thattimeframe could be a strong boost to the dollar. now the chances of that will be diluted. it was not a big selloff, but markets have not and impressed and are looking to other factors now. haidi: it has been a hectic week. we have the fed chair nomination out of the way, so what will be the next catalyst for traders? hours we willt 24 be looking at the nonfarm payrolls. the hurricane effect will factor into this one and markets are looking for more than 300,000 jobs to be created, but even if that mrs., traders will say that is the hurricane affected there. will beortant, markets looking at the data to see if it supports the fed hike theme. we also have trump's visit to asia starting this weekend. the main focus will be north korea and china's relation with the dem. onkets will also be focused whether trump will talk about the trade im

committee worked together with jim baker, former secretary of state but then secretary of the treasury, worked with us to come up with a bill that could be passed and it was passed, mr. speaker, with overwhelming votes on both sides of the aisle. and it was the last time we passed tax reform. under ronald reagan we passed a tax cut in 1981. the deficit increased under onald reagan 189%. and under george h.w. bush, the deficit increased 55% in four years. 189% in eight years. under bill clinton, the debt increased 36%. george w. bush, 87% after the 2001 and 2003 tax cuts and we were promised they were going to energize the economy and

the next decade. i don't see it in treasuries. why not? mr. bach: markets, especially investors who are thinking about the fed next year are not able to extrapolate the deficit increase we are expecting next year, which according to the jct, the scoring on this plan was released by the house would add about $170 billion to the deficit in calendar year 2018. that's not going to be that much of a pickup in treasury issuance. you look in 2019, you have a $220 billion increase in the deficit, 2020, another $200 billion plus. but again, what's happening in 2019 and 2020, that's way too far out on the calendar for the market to trade off of right now. jonathan: nick, is that something you believe as well? the idea that, yes, treasuries, there may be more coming to the market. yes, we will add to the deficit. yes, the federal reserve will be pulling back as well, but it's too soon to price that in? mr. gartside: it's fairly too soon, but the reality is there's also a global phenomenon going on here, which is austerity is dead and other countries are l

. >>> ivanka trump and the treasury secretary head to new jersey to discuss the changes that could affect your tax bill. >>> monday morning, 4:30. thanks for being with us. this is "nbc10 news today" first look at 4. i'm tracy davidson. >> i'm via sikahema. we're tracking a system that includes rainfall. meteorologist bill henley has the most accurate neighborhood weather forecast. >> a rainy monday. light rain falling in philadelphia and the suburbs. in berks county, you may see a wintry mix. mainly right rain. the good news is temperatures are above freezing. i'm not expecting anything to stick even if you see a snowflake or two mixing with the raindrops. 36 in the suburbs. upper 30s for the rest of the area including delaware. might come down a degree or two. then it will climb as rain capers off. we'll see that happens -- tapers off. we'll see that happen this morning. not an all-day rainfall. this afternoon, some breaks of sunshine. a big warmup, no. warmer than saturday, definitely. upper 40s and low 50s this afternoon. the showers will dry out quickly. then with clearing later toda

mnuchin, now secretary of the treasury, where he worked, committing the same kinds of -- of -- doing the same kinds of things at work that mnuchin did. mr. otting and his former boss, secretary mnuchin, refused to provide senators state-by-state data on one west foreclosures on senior service members and other borrowers. they refused to answer questions about one west loan modifications. i think ohio wants to know, ohioans, and i would hope enough of my colleagues to constitute a majority would want to know what they're hiding. it was pretty amazing, mr. president, to sit in the finance committee and listen to secretary mnuchin and watch secretary mnuchin, then-secretary designee mnuchin refuse to release information, refuse to disclose. in fact, he had forgotten about a $100 million investment he had when he testified in front of the committee. we found out later that he had this investment, that he forget to disclose. $100 million, that's a lot of money. even to secretary mnuchin, i think that's a lot of money. even to this administration, i think that's a lot of money. now, what w

lou: the treasury department implementing new sanctions against three companies. move comes a day after president named north korea a state sponsor of terror. joining me, former u.n. ambassador john bolton. ambassador, it's good to see you. these sanctions, we have talked about the efficacy of sanctions. as i recall we have never found an instance in which they actually worked. is there some new evidence we should consider? >> no, i would think adding new sanctions adds to the pressure. there is no doubt about that certainly politically. but these sanctions, the individual target are never effective. if you sanction the abc company it only takes a day or so before a new company springs up doing the same thing. i think the designation of north korea as a state sponsor of terror will be the right thing to do. >> we are now about 40 days away from the ends of this year. there are reports the north koreans will have a icbm that can carry a nuclear war head by the end of this year. >> we are out of time with north korea. susan rice very help any wrote 6 or 8 years ago,