19 Burst results for "Mnuchin Treasury"
Biden Team Faults Mnuchin for Letting Fed Aid Programs Lapse
"Mnuchin treasury secretary currently serving to president trump seems to want to still curry favor with his boss because he's willing to undermine the american economy and american workers across the country for the sake of political maneuver to hamper joe biden. I mean it's just amazing. We learned today. That treasury secretary mnuchin with the president's full support obviously is ending several emergency lending programs as part of the cove relief that has been in place over these last. Many months will what economists says that. That is a smart thing to do right now. You'd be hard pressed to find one and in fact the chairman of the federal reserve is publicly at odds with it. He's saying we need every tool possible right now to keep this economy from cratering as this pandemic continues to rage unabated and there's only one conclusion to draw here's to why president trump and secretary mnuchin would be doing this that is to actually hamper the economy. Because that'll make it tougher for joe biden when he takes over. That's what all of this is about. And now mnuchin and trump are saying to the american people. They don't care about your economic wellbeing as much as they care about scoring political points on the incoming president joe biden.
"mnuchin treasury" Discussed on Boston Public Radio Podcast
"Jim when you when you martyr in the same place I, cut your Mike off I can hear you though if you decided to course through Margaret Bike I've tried several times in the town, right? Exactly. In the town hall format there's hot. Mike's walking around the whole place. Take Trump's Mike but Biden walking around and the moderator will be walking around and don't forget. There'll be Mike's that are turned on for the for the viewers. Excuse me Kinda of question or is that are in the building? So I don't think it's you know. Look in theory the idea of cutting off Mike it seems like a good idea in practice. Tell me how it works. Now I grew by the way. One of the most noted Civil Libertarians in Boston Harvey silverglate has been circulating an email suggesting they both should be plexiglass isolation booths for. The game shows. Hey. Dave. Chuck Chain Gears for a second I'm obsessed. With many things, but I'm particularly obsessed with the fact that. The, Senate has enough time to slam through a Supreme Court nomination after people voted, but they don't have time to reach a compromise the help real people in small businesses back home. We all know Steve Mnuchin Treasury, secretary, Nancy Pelosi had been meeting apparently arguably making some progress. The reason I'm hopeful is the airlines are now in the middle of this thing, they're announcing tens of thousands of also of they don't get the money. We know that even the relief whatever the fund was called after nine eleven was really about bailing out airlines originally not about. Helping survivors even though it ultimately did what are the odds of something happening before they go home and a week or two or whenever it is. That it seems pretty stubborn. So I I have no I mean I think that's the. I think the Senate, we're less stubborn on this I think we'd ever deal but I for some reason, McConnell's decided. he's GonNa let a majority of his conference. Aside, this and they've all suddenly got they decided the deficit matters. And you know Wait a minute. Well. Created. The deficit with the tax. Worried about it right. I know suddenly they're worried about it. Remember Party start worrying about deficits when they lose power. Just it just is. It's amazing. The Deficit Hawk in Washington is a rare breed of bird that only shows up when they political party power It is. but. I I look I thought the same thing. I cannot believe they're going home. In in in a real in the final months before an election without really I just think it's It it is crazy and I think that this is why Pelosi is trying to get caught trying She didn't WanNa move down and there was a lot of nervous Democrats. In district not wanting to come home without trying again. so Look I. You know this is Mark Meadows and the Senate Republicans who are preventing a deal minutia deal I think trump wants to deal exactly does not. Bark and Mitch McConnell are standing in the but if you're asking me who are the two people standing in the way deal So, but can't we only have left can't can't. MNUCHIN. Cut A deal. With Pelosi stand up at a press conference saying we have a deal and box McConnell into a corner. MNUCHIN won't. Do it and meadows won't let them. You know what happened yesterday Mnuchin was meet with Pelosi at mark medicines doing. Mate. Wait meeting with McConnell to make sure McConnell health line which. Is. The one blowing this up. The new every deal got cut between MNUCHIN and Pelosi until Martin Meadow shut up. You. Know. You had a reputation..
Stocks open lower as investor hopes for more fiscal stimulus fade
"Is the lack of fiscal stimulus to deal was the homegoing fallout from the Corona virus. Can you really see anything meaningful getting done? Before the election. Absolutely not. I mean, my bass case was hopeful that we would be able to get a fiscal stimulus down about a month ago. But now with the tragic passing of justice, revenge that we have this situation toward now, people are really battling on Capitol Hill on getting the next fiscal. Sammy was done. We saw today the Democrats coming out talking about At $2.4 billion English package, which did crop up the markets, But then it quickly faded away. And that's kind of been the name of the game. We see these conversations happen, and then they just fizzle out so The political uncertainty happening. We just don't believe that that will be the next Case going forward with the fiscal stimulus, so investors still have to embrace that left policy. So included in this planet's being sketched out by the Democrats. It includes some relief for the airline industry here in the U. S. Has a way of averting those a massive jobs losses that could come next week when the cares act goes away today, Mnuchin Treasury secretary said. Hey, I cannot tap the unused Corona virus lending authority to get grants to the carriers. What is the outlook for domestic carriers? And you've in your view? You had the outlook's pretty dim right now. We definitely do need that fiscal stimulus to coat into those airlines air into those domestic carriers just because of the multiplier that they have on economic conditions that it's not just the airlines and the employees that we need to worry about. It's all of the subsidiaries of small companies that go into helping those airlines operate on a daily basis. And so monetary stimulus has been a very big conversation. I think that's kind of not with focus needs to be because we need direct payments to these airline companies. We need direct payments from a fiscal support into the paychecks or to the pockets of airline workers.
"mnuchin treasury" Discussed on NPR News Now
"From NPR news in Washington. I'm Lakshmi Sang. The livelihoods of millions of Americans are at stake with so many places shut down or asked to stay home. People asked to stay home to keep from possibly getting or spreading the corona virus. The White House is asking Congress to approve an eight hundred fifty billion dollar stimulus package treasury secretary Steven Mnuchin says administrations. Also looking at sending people checks directly. We're looking at sending checks to Americans immediately and what we've heard from hardworking Americans. Many companies have now shut down whether it's bars or restaurants. Americans need cash now and the president wants to get cash now and I mean now in the next two weeks. The Federal Reserve is taking additional steps to keep credit flowing to both businesses and consumers despite the disruption and peer Scott horsely says the feds invoking emergency powers last used during the financial crisis more than a decade ago. The Federal Reserve is setting up a special facility to buy what's called commercial paper. Short-term debt used to finance a wide variety of needs including car loans home mortgages and business operations the central banks has financing for Commercial. Paper has been strained in recent days by uncertainty over the corona virus by purchasing the paper. The Fed says it hopes to support families businesses and jobs across the economy. The feds move has the backing treasury secretary. Steven MNUCHIN Treasury is providing ten billion dollars to safeguard the Fed against any losses in the commercial paper funding facility. Scott horsely NPR news Washington. The federal government is discouraging gatherings of more than ten people for the next fifteen days to keep down the risk of virus. Transmission officials. Say That's especially true for younger generations. Whose actions could either help or inadvertently harm more vulnerable population such as the elderly well in top clamoring for more test kits respirators and other equipment. Medical facilities are especially worried about keeping their doctors nurses and other personnel on the front lines of this pandemic safe vice-president Mike Pence says in this regard construction companies can help would urge construction companies to donate their inventory of n ninety five mask to your local hospital and forgo additional orders of those industrial masks. On New York's one of the state's worried about a medical shortage governor. Andrew Cuomo says the state has fewer than ten percent of the intensive care beds that may be needed as the outbreak gets worse. Here's north country public radio. Brian Man will says New York has only around three thousand. Icu beds not all of them. Free Right now. He as experts tell him there could be ten times that number of extremely ill cove nineteen patients in the coming weeks. Is this epidemic peaks. We're examining the entire hospital system. What is the maximum capacity per hospital? Move asking retired medical professionals to join the corona virus response. He says the federal government needs to help procure more respirators Brian Man. Npr News New York. You're listening to NPR news. The most major ski resorts in the United States. If taken the extraordinary step of shutting down NPR's Kirk siegler reports. This comes at what's normally a crucial business. Time Spring break when Vail resorts announced it was suspending operations at its thirty seven ski resorts. It didn't take long for much of the rest of the industry to follow resorts for Mammoth Mountain. In California to Jackson Hole Wyoming Abruptly. Shut down the lifts hotels and restaurants until further notice or next season. Besides the economic fallout bigger concern. Is that many of these? Resorts rely on visitors from around the world in Aspen. Local hospital officials said they don't have enough tests and are turning people with possible symptoms away public health officials in the region or advising anyone who visited ski resort counties to self isolate Kirk Siegler. Npr News Boise. Because of this outbreak the Kentucky Derby and preakness stakes are both postpone until September. The French Open is delayed until October. Four Euro. Two Thousand Twenty championships are being pushed to the summer of twenty twenty one. According to Europe's football governing body big events being canceled around the globe during the pandemic that threatens to drag on for many months so far the twenty twenty games this July in Tokyo were still on. The International Olympic Committee says so far it does not plan any drastic decisions. Us stocks higher. This hour Dow Jones Industrial Average. Up Six hundred seventy seven points or three point three percent at twenty thousand eight hundred sixty five. Yes and peas up. Four Percent Nasdaq also up more than four and a half percent this is NPR..
"mnuchin treasury" Discussed on KTOK
"Mnuchin with how do you say his name Mnuchin Treasury Secretary with Maxine Waters? I know I try to never see. I've seen anything. That's the goal of mine in life. Give what you don't actually see Maxine Waters. Do anything. It's, but she says a lot of stuff she was she was talking to Mnuchin, and he had agreed to come to the to to a hearing for the finance oversight committee, and he's being questioned about Donald Trump's taxes and it goes on relentlessly on and on and on. And he says at the beginning of five fifteen very important appointment, I would appreciate it. If I could be excused by five o'clock. Yeah. Yeah. Becomes five o'clock five oh five and he's like you're just trying to hold me here too. I mean, I came here. And I politely Rick requested that I be done by five. I have a very important meeting to get to. And and you need to dismiss me or I'm not coming back. You'll have to subpoena me, but they. Nobody's ever treated the secretary of treasury this way in this committee. The Republicans never did this to the Democrats we treated people with respect. Now, if you would like to continue this, that's fine. But then you'll have to subpoena me, I will not come on my own accord ever again. If this is what you're going to do. And she just gets nasty. She's like go ahead leaf. And he said, I believe you need to dismiss me. And then hit the gavel. She he knew if he got up and leave he could be held in contempt. Right. And she's like, no, no, go ahead. Leave have your little meaning. And he said you need to you need to dismiss me and hit the gavel thing. And she said don't tell me how to run this committee. She has a one gear which is awful really has the awful gear in every scenario. She's awful to everyone. She's just awful. She's an awful person. And every every every when I hear you say that I don't know does he say awful differently than other people. I mean, just say she is awful. She's an awesome. Just like it. When you say it just it's agonizing. You know? I mean, he's trying to he's trying to treat the Democrats as if they are they are normal people. You know, Maxine Waters is not a normal person. She's not she doesn't act like a normal person. She acts like an awful person. All the time. And I mean, I'm not surprised. So what how did this end? What was the the that? She ever hit the gavel is he still there? I think he I'm not sure I don't know. I saw the fight. Now. You don't know what give gimme gimme five minutes. We'll look into it. Because I'm not sure I know that. I don't know. I don't know. I mean, I know he's not there. Did he have to sleep? Did. He did he have did. He miss the five fifteen. I don't know. I think she dismissed him. But I don't know. I can't believe I didn't even ask that question. Because it's it's embarrassing like these are stupid little tricks. And it just it's another example of the dumb power congress has over people people say like, oh, we've Coequal branches of government. No, we don't congresses the superior branch. I mean, and that is the design, but the way that they use it as so infuriating congress when you to get president the executive branch, you wanna get them impeach. Where do you go congress not the Senate? The house of Representative house of representatives has the most power. They have the power of the purse, they have all the power. And that is designed, you know, the more. I learned about the constitution, the older, I get the more brilliant. It is. I mean, I did the pendulum theory last night. And I showed how you get into trouble with the pendulum swinging back and forth, and how the constitution is built for time. It's built to take you out of this panic mode. It takes time. So you can't just run and say, oh, we got to grab all the guns. He can't do what New Zealand did. And that was for a reason because the founders knew even before social media, people could form moms and in panic. They would do crazy things you look at the you look at the the way everything is structured, for instance, every two years you gotta vote for congressman every two years. Why why every two years it seems like a pain in the ass because they're the fastest one that you can throw out of office. That's the one you can throw out of office if they're bad quickly. Will why that branch because that branch is the one.
"mnuchin treasury" Discussed on C-SPAN Radio
"Programming lineup from Sunday on C span radio WCS PFM Washington. Joining us on newsmakers, Larry cudlow. He is the White House. National Economic Council director. Thank you very much for being with us. And joining us with questioning is Nancy cook White House reporter for politico, Damian Coletta White House economic policy reporter for the Washington Post, and let me begin on the issue of China and trade but president this past week saying we're moving closer to agreement last week. You said, quote, we have China over a barrel. So where do things stand actually we're making good progress? Bob lighthizer. Our trade negotiator was on the hill. A lot of this week and his basic messages were gaining. We're moving forward for closing in on a deal. There are still issues to be resolved, particularly in the enforcement area. I might also want to say as I have in the past. Discussions here have gone deeper broader further that anytime in U S, China trade relations way beyond anything we've done and on the whole they've been quite successful. The meetings here to now three weeks ago and came with his top deputies and our principles and we've been negotiating and that went very well. And of course, he has to go back and get clearance from president Xi in the polit bureau, and then we had. Whatever it is teleconference meetings every day last week this week our principles, which is Steve Mnuchin Treasury Secretary and lighthizer made a lot of good progress. They're not quite area. There's still some some some places to go. But. By lighthizer, a very very, dear friend of mine who was taught me everything about trade. He's very cautious man. But he is indicating that were gaining on it, and we have some things to do one of the most interesting things to the most interesting things, I the China's People's congress. I'm probably that's probably not the exact right name. They. Pass a law that will restrain any intellectual property theft. And we'll also restrain any forced transfer of technology, which is an ownership question allow the United States companies operating in China to own their own companies in these joint ventures, which had been fifty one forty nine for China, which forced us to give up blueprints of technology. So People's Congress passed laws to deal with that. That's extremely promising. The currency fixes very well. No competitive evaluations and absolute transparency for any intervention in the open market. That's breaking new ground, and what we're left with now is probably more enforcements kinds of issues. We have proposed a very comprehensive enforcement which would move through. If it American company complains or a series of complaints. It will go through three layers between China the United States teams get to the principles. If we designate that they are not in compliance. We will resort tariffs in a proportionate way. And the Chinese have agreed not to retaliate. We're waiting out of final sign off on that. It's a very clever approach President Trump himself. I was in a meeting in the cabinet room the other day. Let's see today's Wednesday with Republican senators the president's spoke very well that we need final sign off on that. But I think we're moving ahead very nicely. Let me turn it mean the Washington Post, right? So I think there was talk about completing this agreement and mar-a-lago at the end of the month. Do you still see that happening or is it possible that the slips into April? You know, 'cause there needs to be more time for discussions. I don't wanna get into that forecasting business name. I think. I think a little more time is going to be necessary. You know, this about one hundred forty page document, and they're going through it line by line. I'm on the trade principals committee, but as I said Mnuchin and lighthizer doing the actual negotiations. If you can imagine line by line on the phone late into the evening. It takes a little more time. So there was some talk about how she visit was cancelled. That's completely untrue. You can't Kansas on that wasn't scheduled. I would say perhaps the Muslims April perhaps the month of April. It's not I don't people to base any decisions are investments on that point. All say is to repeat Bob lighthizer. I wanted to quote him just to get it. Right. U S and China negotiations closing in on a deal. Hope is we are in the final weeks agreement. That's what Bob lighthizer saying. He is my mentor and this. I'm his message maker on that. So we're close. Okay. I don't know. Whether it's first week second week of April third week of April, the more you get into April. The nicer it'll be for me to go down and mar-a-lago, the weather will be absolutely fantastic. We will see Dave getting that. Here's my point. We're getting close reports and some media outlets that we wanted a fast deal to spur the stock market or utter nonsense as I've said publicly it has to be right. And again, President Trump told the meeting what the Republican senators on Wednesday in the cabinet room. It has to be a great deal. Look it has to protect our workers are. Farmers are ranchers are businesses our technology has to so that's the key point. But we are getting closer very if you don't reach a deal. What do you think will happen to the markets? Oh, heck, I don't want to really do. What if predictions? I'm at sorta thing I suppose there might be some disappointment. But then again, it depends on the conditions Mayes you. If we don't get something done in its entirety. In the second week of April the third week of April that doesn't mean it's over just mazes. Taken a little longer. Okay. I think everybody knows we would like president she and President Trump to get together and sit down and sign off on this thing. And it isn't a time factor. It's it's right factor. It has to be good has to be present contradicted me in the cabinet room. The other day, I said has been good deal. And he said, well, Larry, actually, it has to be a great deal, and I'm all for that. And again enforcement mechanism is very very important, but I will say this Republican senators predominantly free. Traders are absolutely behind us on this and agree with us. So patients patient letters of patients. My son patience patience is a virtue here and just quickly. How my reporting has shown that there has been some disagreement in the White House about how far along the deal has to be to schedule a meeting with the president, President Trump and. Residency. Does the deal have to be totally done in precooked before they set up that meeting. That's a good question. I think it should be mostly done before the two leaders get together, whether it has to be entirely done. I don't really want to speculate on that. I mean, I've read the things that you all righty. We're going to have to be close. Maybe settle a few last details in order to get the two leaders together. And I think the negotiators on both sides Vice Premier Li you who in my opinion is a man of great integrity and a true free market reformer. He knows that. We know that president. She knows that. So the closer the better. I just don't want to be held to any details. I don't want to mislead you. We don't necessarily know all that. But again, we're getting close. That's what Mr. lighthizer said, Bob, who's wonderful person. Who was taught me literally everything I know about trade in the year. I've been in this office is a cautious man. He's a cautious man. So for him to say that we're getting closer on. It is a very positive Larry cudlow White House. National Economic Council director on C Span's newsmakers. One thing surprised, you what one thing that you did not know that you learn in this process. That's a great question seat. So it's been a year. I'm not a trade expert. I've learned I think a lot of things. Two points. President Trump is proven. And I'm the free-trader in the building President Trump has proven that tariffs. Can be an are an essential negotiating tool and he believes and I agree that our use of tariffs with China. Helped bring them to the table in more serious ways than ever before. You know, our hottest comedy in the world China has been slumping for quite some time slumping because they've been departing from their market oriented reforms and slumped slumping because our tariffs frankly, hurt them in key spots. And I think they want to rescue their economy bear economy. I'm told is really the most important paramount issue with regard to president she's own thinking and his politburo. I think President Trump has taught a lot of us. The tariffs can be very useful. Go shade tools, and I want adds to that because I've worked very closely with the president. Whether it's g seven or g twenty or China are US MCA or Europe radius. Places. Tariffs are not an end to themselves. This is his view. He wants a free fair and recip. Typical trading system. I caught the three zeros. I wrote a column about this before the g seven last year. We would love to see a world zero tariffs and non-tariff barriers and subsidies. We would love to see a world that is fully reciprocal. So they treat us as we treat them. They can't have an eight percent tariff on something were at twenty or ten that has change that has done damage to our own economy and our own workforce. And I think skeptics here in town. Nonetheless, presidents use of negoti of tariffs had been very instrumental in positive negotiations. It is true. You're looking at me Damien. I have experienced this Europe where we reopened. I helped work on that certainly the US NCA, which is Bob lighthizer is I think most brilliant new template for trade deals. We're doing it with Japan and China just nothing wrong. Nothing wrong with using tariffs. Other presidents shied away. This president refused to let go of the China's story not just a few press releases. He actually dug in it hurt them. And it got a response from them. Part of the president's economic agenda has been deregulation more business friendly environment, the tax cut law. But there's been some critics in the past week who've said that maybe the administration was too friendly with a company like Boeing after what we saw happen every other major country in the world, you're grounded these planes. The US was the last to act and the CEO of Boeing made personal calls to the president. Can you walk us through? What happened why the Trump administration moved so slow on this? And whether you think in retrospect, maybe they should have more quickly. Where you know, slow is a day. I happen to be sitting in on the phone call between the president and the head. The president. I don't know if you've ever had experience of a police cross examination. I'm in and out of there all the time doing policy stuff, you better be ready..
"mnuchin treasury" Discussed on News Radio 1190 KEX
"Did somebody step on the fire hose of controversy? Or did they turn the spigot down from an eleven to about a three today? Maybe everybody's just kind of like winded need to catch their breath. After that thing yesterday. Still shaking their heads. ABC's? Andy Field is in Washington. I this is the first time in months Andy that that we may actually declare this a quiet day in DC. It's early on. Yeah. Right. It's only three twenty year time. Well, you know, Kagi provided four days worth of crazy yesterday. So. Perhaps, you know, we're just we're coasting on the fumes of Konya until the next of kin. The president was relatively quiet today on Twitter and otherwise he's heading up to yet another campaign event. So we'll see if you make some noise there. But in the meantime, his economic advisors two of them, Larry Kudlow, and Steve Mnuchin Treasury Secretary were basically playing cleanup on aisle six. Which happens often after the president said that the Federal Reserve was out of control with interest rates blaming the fed for the precipitous drop in the stock market the last couple of days, they both came out today said, oh, no. No, no. No. No. No, no. That's really not the reason we, you know, the president's just expressing his opinion. He he appreciates the Fed's independence, and this is just a market correction nothing to see here move along. And so, you know, I guess most investors hope the right until the next time that he was take on the fed. And there was a time yesterday that it was a democratic plot that that there were some who were willing to take down the stock market just to just to make the president look bad. How did they wear? How does that happen is? Maybe George Soros went all cash or something who knows? Well, the fed by the way, the fed chairman was appointed by Donald Trump. So he doesn't like the fed chairman's doing perhaps he needed to appoint someone else. Yeah. Well, it is kind of interesting mean it's been a rough ride and the president was was only too happy to tout how well the stock market was doing for so long as well. Well, this is what happens when when you start taking credit for everything. And none of the blame is that when things start to go south, you have to find a straw, man to blame things on there is no straw, man. They're they're legitimate concerns on the stock market for a number of reasons, primarily the trade tariffs that the president keeps putting in there that we see a number of companies in the US saying we are going to have to lay off thing. People were going to have to cut projects the parts for cars will get more expensive. Because a lot of that stuff gets imported from China. And now there are tariffs on these things that is a real concern in the market. That's one of the things the interest rates also a concern because when you are investing to build an economy or build a company here, you depend on how much the cost of money is. And if the Federal Reserve starts raising because the money, then that changes your outlook. And that changed the outlook for stocks. So these are all things that are concerning. The president is not wrong to say that he's concerned about rising interest rates. But there is a reason for that. The Federal Reserve raises interest rates is kind of a shock absorber to put a brake on inflation. And they are concerned. In part because of these tariffs that the cost of things will start to go up, and they wanna make sure that inflation doesn't get out of control. And I would think too as a buffer or shock absorber going the other way to Andy if we hit another recession you've got to have something to give back. You've got to have these interest rates to roll back to stimulate the economy, and we were playing with fire for so long over a dozen years with at or near zero interest rates were if something were calamitous to happen on top of what already happened there would be nowhere to go. Yeah. And that was a problem for quite some time where people were talking about the recovery was not as robust as they wanted it to be during the Obama years a big part of that was that the Federal Reserve ran out of bullets. They had nothing left to fire. They had an interest rates down to virtually zero. And the only thing left that they could do was to pump more money into banks, basically printing. Money to say, hey, here's some money. Go give it out. So we can get the economy going again. And remember when President Trump took office, the stock market was nineteen thousand and change and not even two years later. It's it's still at twenty five thousand and change. And honestly, anybody any investor would look at that in a in a less than two year period to see that much of an increase in the market say, you know, what I asked for those returns six ways to Sunday. And that's you know, that is one economic indicator, and it's great if you have money in the stock market, the vast majority of Americans, do not they live paycheck to paycheck. They are more concerned with how much money do they have in their paycheck every week, which is the president has been touting. Well, look at my tax cut. We we made you a lot wealthier a lot of those folks are not feeling that in fact, if they have a cut in there in there. Taxes it's fairly small unless you are quite wealthy. Then it's quite big and that fairly small cut is not changing the lives of a lot of people. Whether politicians are able to use this to their advantage of disadvantaged by the Democrats pointing that out or the Republicans telling you to look the other way. Will determine who wins the house and Senate this this fall and this week a heck of a week? I mean on Monday hurricane Michael was nothing. It was just you know, it was it was a tropical storm out in the ocean. It's blown through Florida and caused billions of dollars in damage lives were lost people are still missing. And so that.
"mnuchin treasury" Discussed on Bloomberg Radio New York
"Five percent of the, content. Of key components has to be from countries where the wages of sixteen dollars an. Hour or more obviously, Mexico wages are nothing like that nor? Are they in south east Asia so that's a provision that directly benefits US and Canada comes in? More or less would help Canada because? Their, wages are quite. Similar to ours the other provisions that will help Canada Mexico and the US is the requirement that seventy five percent of. The content be from, within NAFTA right now the content requirement is only sixty two and a half percent and many of the parts best defied that. Old agreement on no longer even used in cars whereas there are many components principally electron, ick ones but now are us that were not used at the time of the old agreement then why did, the United States choose to negotiate first with Mexico was it because you thought it'd be easier because the trade deficit was the. Larger, what what caused you to take, this sequence well there are several Reasons one the Mexican seemed more eager to do. A transaction as you know they're going, through, a transition of government and it was important to the old government to try to get this done on, their watch it also was significant to the new government to, participate in the sessions but the new government also desired that these be done under the old. Government's watch so from the timing point of view, Mexico made sense the other thing is that our auto deficit is huge with Mexico. It's more than seventy billion dollars in deficit in general is one? Of the two major sources of our overall trade deficit auto is the biggest single product? On our trade deficit in the other? Big, component is geographic And that's obviously China earlier today. And your colleagues Mnuchin Treasury Secretary praised, as he called. The currency chapter in this agreement with Mexico I could you describe. That for us I must say I've talked to various companies including Ford Motors one particularly said there's real issues with currency. Manipulation was this to address a fear that Mexico has been or will really adjust its peso Well leave the details of that to, secretary Mnuchin because currency is an area specifically reserved to the treasury but it's. No secret that part of. The problem in terms of our trade deficit with Mexico. Is that the peso has been. Deteriorating of very very rapid rate in fact there have been multiple year periods during which even though there had been some modest improvements in the minimum wage in Mexico in pesos denomination still was an actual, decline in Mexican worker wages in dollar? Denominated terms so, it's a significant issue it's not that we're. Accusing Mexico of being currency manipulators that isn't so much the point but what happens is when hedge funds want to hedge against emerging market Risk about. The only currency that they. Can do in big size is the Mexican peso so. It is under pressure from time. To time for reasons that don't have that much to do with Mexico The other thing is Mexico. Does have substantial trade deficit its trade deficit annually with the entire world despite the surplus. With us is over twenty billion dollars a year so that's an. Also problem. For the Mexican peso mister secretary the president said just twenty four hours ago that now is not the time to go she ate trade relations with China and. You've read it ring reiterated that sense why is this not the time now and when will be the time Well we don't have an exact date as. To when. Will be the time but you're where the two delegations met last week Those, no substantial breakthrough, that came from that session at all and so that's one indicator that it's not necessarily the right time, Secondly as you know the United States is scheduled to impose tariffs on quite a lot more product from. China, coming in here and I think the president is interested to see the, impact that those moves have on the potential negotiations And finally there's ongoing talks with the EU about really coming to, zero or at least reduced tariffs is there any news on that can we expect any news anytime soon Well they will be sessions with the European. Commission in, September more or less to scope out the parameters of the subsequent talks but the talks. Nor the Chinese talks remotely this? Far along as we are with Mexico And frankly they're not even as far along as we are with Canada because so..
"mnuchin treasury" Discussed on The Takeout
"We've been partners with the kurds we jordanians and they put their lives on the line we have been there partner in with no advance notice we say were pulling out without telling them ahead of time the president of the united states is i say i have a son of the military i have a father was a captain in world war two you do not treat the military like this he is putting our folks in harm's way so broaden this out a little bit since you really dived into this is going to get to this later but you into its let's get their evaluate donald trump as a commander in chief you are very close to the clinton family you you served alongside not as an adviser not in the white house but you were pretty close to bill clinton you've watched presidents make heavyweight decisions evaluate him as commanderinchief the issues he's made i'd have to give them a seat today i mean i'm very concerned about syria i'm very concerned about the trade tariffs that he has done yell i'm a big free trader all about trading as governor of the commonwealth of ginny i'm all about agriculture you know we did ninety one billion dollars my last year economic impact of agriculture and forestry you know what that means that means thousands of jobs in virginia in what he is doing to hurt rural merica to hurt farmers today by putting these tariffs on china's going to respond immediately as they have said it affects soybeans effects poultry big commodities in the commonwealth of gin on his behalf let me just say what larry cudlow said to me and what steve mnuchin treasury secretary said the malaria the new top economic advisor no terrace have been imposed yet but we're calling the question because china routinely and you can't disagree with this china routinely steals intellectual property american businesses have to go there and essentially hand over their blueprints to even get a beginning.
"mnuchin treasury" Discussed on MSNBC Rachel Maddow (audio)
"The way matters show we at nine eastern on msnbc thanks for joining us this hour happy to have you here whole bunch of news today a senior adviser to hud secretary ben carson resigned today after being confronted with reports that he faked to all the important bits on his resume that resignation and those questions about how people get vetted to be in this administration anyway that resignation comes amid reports today that ben carson may himself have lied about he and his wife being personally involved in choosing thirty nine thousand dollars worth of new furniture for his office at hud now whether or not you like expensive furniture in government offices lying about it when you are confronted about it is never a good idea and there are now multiple reports that ben carson is among several senior trump administration officials and cabinet secretaries who may be losing their jobs sometime soon after the firing of secretary of state rex tillerson just two days ago on that same subject in that same theme the treasury secretary steven mnuchin i have been working on it it is steve sorry it is not steve it's stephen and it's not mnuchin it's mnuchin like he's from the island of minutia it's steven mnuchin from minutia working on it sorry i i've i've gotten it wrong four thousand times on the air i will not get it wrong in steven mnuchin treasury secretary he is reportedly also on the block today after documents obtained through a freedom of information act request show that he charged taxpayers for roughly one million dollars worth of flights on military aircraft just in the first nine months he was an office steven mnuchin is not in the military he has no military responsibilities the air force frankly has better things to do than fly him around and the expense is just extraordinary private jets themselves are very expensive just ask fired health secretary tom price about the cost of private jets and how that looks when you charge them to the tax payers but private jets are nothing compared to military flights military flights are really really really expensive like twenty five thousand dollars an hour expensive at apparently the treasury secretary has been enjoying military.
"mnuchin treasury" Discussed on KSFO-AM
"Of the california he'll be here tomorrow first visit since he's become president to spend well over a year finally coming to the state that hates him i mean this state is just open season on trump the left would make you believe and the media would make you believe that there's nobody of the state that supports trump voted for him at center a but in fact four and a half million people did vote for him so just need to be aware of that so he's coming tomorrow but why is he coming while he's coming specifically he'll be in san diego that he's going to be an la is going to be an la for a fundraiser is gonna be in san diego to do a little wall shopping i love it and going while shot one while shopping wall shopping so we've get that for you this morning here on ksfo uh he's also you know this meeting with interesting this meeting with kim jong wound and the left does know what to do with us because they if if he could pull something off right if he could pull something off this will be flipping amazing just on believable and they wouldn't know what to do because they don't want to give him credit for anything good so instead now what's happening is um well here's steve mnuchin first of all steve mnuchin treasury secretary speaking on nbc's meet the press and he said the presence very clear what the objective as if we're going to meet with kim jongun rocket man it's to get rid of his nuclear weapons cut a police cut a we've been executing all year a maximum pressure campaign it's been very effective sanctions has been a big part of that we've done more sanctions this year than the entire last ten years and there's no question these sanctions are working and that's what's brought them to the table okay he's coming to the table sanctions are working fantastic meantime elizabeth warren united states senator from massachusetts we like to call polka honky because she's always claim she was native american when in fact it came out again in this news this weekend and there's no proof elizabeth anyway she's she's very concerned katie you know of trump meets with a little dictator mohamed is called.
"mnuchin treasury" Discussed on KQED Radio
"Age of trump he's more vocal than ever give me a thumbnail assessment if he can of the two men who were serving in two roles that you've served under different administrations gary cohn directed an nec national economic council steve mnuchin treasury secretary i've been disturbed by the number of things that secretary mnuchin has said that were not actually true his claim that the trump tax cuts would not provide any relief to those with the highest incomes his claim is rather strong defence of the president's behaviour with respect to the tragedies in charlotte's veil a variety of his statements have bow to the plausibility that the president policies would stimulate economic growth seen to me to have plus his credibility in considerable doubt and that's not a personal thing we'll know when there's going to be some kind of crisis or serious economic problem then it will be necessary for the treasury secretary to provide reassurance and at the moment when it is necessary for him to provide reassurance his credibility is going to be a crucial asset in the same way i have been surprised by the number of statements that gary cohn has made that just are matters of fact and aren't right he asserted that doddfrank had cost banks a few hundred billion dollars a year in compliance costs while doddfrank i pavin to support doddfrank regulations but reasonable people can agree or disagree as to whether they're a good idea dea but given that the total payroll of all banks in the country is four hundred billion dollars it seems unlikely that complying with dodd frank is costing a few hundred billion dollars in compliance costs gary cohn asserted that he was working on doing the first tax cuts in in thirty one years well we a tax cuts 1997 tax cuts 1999 tax cuts in two thousand one two thousand and three and a variety of other years there are a variety of statements that are made now you can say that everybody exchange rates and service of an argument and you can say that it's all politics and that it's not a seminar room on the other hand i think in the economic and financial or rain ah it's very important for public officials to maintain their credibility and i would add that on the.
"mnuchin treasury" Discussed on KQED Radio
"Two men who were serving in two rolls that you've served under different administrations gary cohn directed an nec national economic council steve mnuchin treasury secretary i've been disturbed by the number of things that secretary mnuchin has said that were not actually true his claim that the trump tax cuts would not provide any relief to those with the highest incomes his claim is rather strong defence of the president's behaviour with respect to the tragedies in charlotte's veil a variety of his statements have bow to the plausibility that the president policies would stimulate economic growth seen to me too have plus his credibility in considerable doubt and that's not a personal thing we all know when there's going to be some kind of crisis or serious economic problem and it will be necessary for the treasury secretary to provide reassurance and at the moment when it is necessary for him to provide reassurance his credibility is going to be a crucial asset in the same way i have been surprised by the number of statements that gary cohn has made that just are matters of fact and aren't right he asserted that doddfrank had cost banks a few hundred billion dollars a year in compliance costs while doddfrank i having to support doddfrank regulations but reasonable people can agree or disagree as to whether they're a good idea but given that the total payroll of all banks in the country is four hundred billion dollars it seems unlikely that complying with dodd frank is costing a few hundred billion dollars in compliance costs gary cohn asserted that he was working on doing the first tax cuts in thirty one years well we tax cuts 1997 tax cut the 1999 tax cuts in two thousand one two thousand and three and a variety of other years there are a variety of misstatements vetter made now you can say everybody exaggerates and service of an argument and you can say that it's all politics and that it's not a seminar room on the other hand i think in the economic and financial arena it's very important four public officials to maintain their credibility and i would add that on the.
"mnuchin treasury" Discussed on WNYC 93.9 FM
"Two men who were serving in two rolls that you've served under different administrations gary cohn directed an nec national economic council steve mnuchin treasury secretary i've been disturbed by the number of things that secretary mnuchin has said that were not actually true his claim that the trump tax cuts would not provide any relief to those with the highest incomes his claim is rather strong defence of the president's behaviour with respect to the tragedies in charlotte's veil a variety of his statements have vow to the plausibility that the present policies would stimulate economic growth seemed to me to have plus his credibility in considerable doubt and that's not a personal thing we'll know when there's going to be some kind of crisis or serious economic problem and it will be necessary for the treasury secretary to provide reassurance and at the moment when it is necessary for him to provide reassurance his credibility is going to be a crucial asset in the same way i have been surprised by the number of statements that gary cohn has made that just are matters of fact and our right he asserted that doddfrank had cost banks a few hundred billion dollars a year in compliance costs while doddfrank i pavin to support doddfrank regulations but reasonable people can agree or disagree as to whether they're a good idea but given that the total payroll of all banks in the country is four hundred billion dollars it seems unlikely that complying with dodd frank is costing a few hundred billion dollars in compliance costs gary cohn asserted that he was working on doing the first tax cuts in thirty one years well we a tax cut through 1997 tax cuts 1999 tax cuts in two thousand one two thousand three and a variety of other years there are a variety of miss statements that are made now you can say everybody exaggerates and service of an argument and you can say that it's all politics and that it's not a seminar room on the other hand i think in the economic and financial or rain ah it's very important for public officials to maintain their credibility and i would add that on the.
"mnuchin treasury" Discussed on WSB-AM
"That a now that would have to pay a maximum of twenty percent taxes instead of 35 percent they call that make another tax cuts for the rich i had to point out that his democrat you know not all corporations a rich not all cooperation is a profitable some of them us struggling and you know what if you don't lower that top corporate tax rate you're going to prevent some new businesses from getting started so they're misleading the people again the amiss leading the people again on what it means for tax cuts and simplification now steve mnuchin treasury secretary was ask of paul rands prediction that it might take until christmas to get tax reform done was real listing took ronald reagan over two years on a bipartisan basis to get tax reform done so if we get tax reform done this year it will be extraordinary it and that's our objective our objective is to get it on the president's desk by december to get him to sign it this year and president trump says he doubts that democrats will support his tax plan probably not they don't like in a cow cuts so is important at the gop supporters gop supporters y'all to pressure their lawmakers to pass it that we get the republicans we need which is virtually every single one of them because that's what we need we will get that largest tax cut in the history of our country and you will see things happen like have never happened before we will have employment we will have jobs we will have companies moving back into our country in other words folks quit he is saying is that he's provide in the leadership from the top we have to provide pressure from the bottom and raise some cain when i come back i want to share with you some of the remarks i made at columbia university last night to believe it or not some conservative republican students on campus you're listening to the herman cane show fruitful experience engaging herman cave daily solution that on.
"mnuchin treasury" Discussed on WPRO 630AM
"Says power restoration for the millions of people without electricity could take weeks alan scaia fort myers florida congressional republicans in senior trump officials begin meeting in the next few days and weeks to try to hammer out a path forward on tax reform but phil manningly reports there were things that have to happen before that can go m happen steve mnuchin treasury secretary gary cohn nec director meeting with the senate budget republicans why well the budget committee still has to pass a budget both the house and the senate and then they need to bring it together that is the only way that they can get tax reform through on a simple majority they are even close on that yet more would police announce arrests in connection with burglaries early monday in the governor francis neighborhood major rick rathbun's says the brakes were run nervy both of the residence there were burglarized were occupied at the time the crimes occurred law one of the co victims were an elderly couple whom there's nothing more all unease that unnerving for the community then we have law crime like this where and occupied dwelling in the nighttime has somebody enter in victimize our our residents suspects identified as nineteen year old timothy carol eighteen year old justin push shepton 21yearold jared melo of warwick plus a 15yearold year old you know about iceberg but jan johnson has a report about an assault on what's being called a fat berg british engineers say they've launched as sewer war against these joe giant fat blob that is clogging london's sewers coming in it two hundred fifty yards long and wing as much as eleven doubledecker buses the unsavory mass consists of congealed fats and oils along with wet wipes and diapers when engineer calls it a total munster and thames water officials say it could take as long as three weeks to dissolve it using highpowered streams of water because in their words it's basically like trying to break up concrete i'm.
"mnuchin treasury" Discussed on KDWN 720AM
"Are on the job is a massive effort to restore that power thirty thousand people have come from out of state just for restoring power but it's not going to happen overnight the federal officials have been very upfront in pretty much saying it's going to be some time before all of that power is restored florida's east coast is expected to have electricity restored by the end of the weekend the west coast will take longer corresponded diane gallagher and brandon florida says gasoline even in areas not heavily damaged is proving to be difficult she stopped at one station where line started forming as soon as motorists found out it had fuel god supply late last night it's kind of working like that right now are they lease the tampa area fueled by word of mouth really the trump administration is thankful for the new yet limited united nations approved sanctions against north korea here's defense secretary james mattis united nations security council spoke with with one voice recognising the global threat dprk north korea constitutes these are the most severe sanctions on north korea we'll see what choices the north koreans make republicans in congress and senior trump administration officials will be meeting over the next few days and weeks try to hammer out a path forward on tax reform as correspondent phil mattingly says there are things that need to happen before tax reform can be addressed steve mnuchin treasury secretary gary nec director meeting with the senate budget republicans why well the budget committee still has to pass a budget both the house and the senate and then they need to bring it together that is the only way that they can get tax reform through on a simple majority they are even close on that yet i'm jim a yo the news brought to.
"mnuchin treasury" Discussed on WIBC 93.1FM
"Forty eight degrees in the american standard grueling weather center the time has eight nineteen president trump speaker ryan effect that have dinner tonight this comes one day after president trump last night sitting in the oval office with speaker ryan and senate majority leader mcconnell and senate minority leader chuck schumer and house minority leader pelosi said you know what let side with the democrats on this that debt limit congress what does to a threemonth extension not the eighteen months that the republicans wanted to not a year that they would have taken up a sixmonth there would have been a lastgasp now what what this this t the threemonth deal no yeah we're gonna we're gonna work on daca and of congress of their odds as others fix it myself that's that's that's absolutely at that's what we're gonna do you know that was yesterday and then tonight he's going to have a dinner with speaker ryan and that let me tell you is not going to be awkward at all yes say care paul dutch trump stake better at the trump that a stake yeah i gotta while gun accu ally he wants more catch up north were catch up for that now now paul you're ula quiet today john paul what what are they gonna do rely on you ally republican hey i've had that obamacare repeal go now all of a sudden president trump is norman donald i assume it's going to be peculiar i assume it's going to be strange as supposedly after the debt deal was was reached in in the in the oval the republicans were beyond angry steve mnuchin treasury secretary as is describes look shellshocked like he couldn't believe what having because he got waved off the republicans like mr president we got what do we what are we giving in four what are you doing and people are are all about the the apoplectic and and i don't mind them being apoplectic by the deal i don't mind them realizing that trumpism a conservative i don't mind that at all the question for the conservative in the question for america is what are we wanna do about the things we can do something about because we are the ones who are going to now have to inform our elected officials what to do regarding daca deferred action for childhood arrivals right this whole idea of kids who came into the.
"mnuchin treasury" Discussed on KSFO-AM
"Are worried about trump's ability to follow through on his agenda but steve mnuchin treasury secretary this week said that you're gonna get a meaningful tax deal done by the end of this year now if we get any also said he needs gdp to be a three percent so if we get that done that's going to be great for stocks but what if we don't where should you be putting your money right now well right now if you take a look in the us small caps smallcap stocks now on there's indexes for this a nurse funds and all kinds of stuff you can do evan really done much that might be an area take a look aca certainly they would rally pretty good if we did get some tax breaks i keep hearing this too and i'm not against it allocate eur funds see europe to emerging markets their different europe gives you a a developed welldiversified application to other markets where earnings again are are looking better positive interest rates are going lower so you're in an environment where we were say about a year ago emerging markets are incredibly exciting because they're bouncing off a bottom not scenario it's been very underrepresented for years hasn't been doing anything and you talk about explosive grow both as the dollar starts to get under control announced commodity prices start to get a regularized from where they were in the low area that's where you're going to see emerging markets do as well and i happen to be an emerging market last week and everything's gone grey down there so i'll just tell you that this is the time where they've underperformed and this might be an area of inch the rest for you in the future when i come back should you move.