36 Burst results for "Treasury Secretary"
What to expect from NOAA under the Biden administration
"Focus on weather. Forecasting and climate science is likely to be a high priority under president biden and it begins with staffing at the top washington post capital weather gangs. Andrew friedman wrote about the possible scenarios for noah. Hi andrew welcome to climate cast off. Let's talk about the biden cabinet appointments so far one thing that jumps out at me andrew. There are so many with climate expertise and focused john. Kerry as climates are on the national security council. pete buttigieg at transportation jennifer granholm at energy. What do you make of these leaders. Strong climate focus. It doesn't look like an accident to me. Yeah no really. The administration is approaching an all hands on deck strategy for climate change rather than putting that just in the hands of the epa administrator and maybe the energy secretary they're putting that everywhere so you heard their nominee janet yellen for treasury secretary mentioned climate change in her interest speech Also the national economic council chair of brian niece has a significant climate experience. This is really going to cross pollinate the government agencies foreign wide. Honey you think. The new noah leadership will be substantially different than it. Is today you know. The noah leadership under president trump has been competent jacobs who has a phd and is a meteorologist by background. Really knows that issue in really knows the agency warehouse but he was hamstrung and didn't even have the ability to send an all hands email without running it by political appointees at the department of commerce. He wasn't able to pick his top staff including chief-of-staff so really what you're going to see is a administration that thinks the real while. Okay we're going to have this person as administrator what do they need to support them. In these other several roles that are politically appointed. How will climate change science and communications. Be different. i think there's going to be a much greater role They're gonna put more of an emphasis on the national climate assessment which has been something that the trump administration tried to walk away from and then has tried to interfere with. So it's gonna be much more of noah in the lead when it comes to scientific integrity andrew. We all remember sharpie gate. When president trump doctored a hurricane map how will the biden administration sharpie proof noah they need to make some changes to the scientific integrity policy. Because what happened was that episode was judged to have violated their scientific integrity policy but they were absolutely no consequences for it because it doesn't apply to the department of commerce. It applies only to noah so the department of commerce leadership told no they had issued a statement disavowing. they're actually accurate forecast and They weren't punished or so they're going to have to make some changes also though i think whoever is brought in noah leadership is going to come and on day one knowing that they have some morale issues and knowing that the half to reassure people about the scientific integrity of the agency on the premium placed on sound science andrew friedman with washington post capital weather. Gang for sharing your perspective on climate casts. Today thank you for having me.
Fresh update on "treasury secretary" discussed on Bloomberg Wall Street Week
"Wall Street Week. What's the state of corporate governance of deficit is a real issue. Use economy continues to send mixed signals the financial stories that shape our world fed action to calm concerns over dollar liquidity and encouraging China data the 500 wealthiest people in the world through the eyes of the most influential voices. Larry Summers, the former Treasury secretary. Stomach CEO Kevin Johnson. SEC chairman. Jay Clayton Bloomberg Wool Street Week With David Westin from Bloomberg Radio. This week for the first time in history, a U. S president was impeached for a second time. Measure supported by 10, House Republicans today in a bipartisan way the House demonstrated That no one is above the law. Not.
Nancy Pelosi Calls for Trump to be Removed from Office
"Bring you up to date on a couple of things. Treasury Secretary Chao resigned she President Trump's Treasury secretary. She just resigned. He said it was too much. What the president did yesterday was too much and then just moments ago. We heard Nancy Pelosi speaking. It was her normal weekly press conference. Believe or not, it just happened happened on this day on. She had some very strong words about what should happen to President Trump president has committed an unspeakable assault. On our nation and our people. I joined the Senate Democratic leader and calling on the vice president to remove this president by immediately invoking the 25th amendment. If the vice president of cabinet do not act. The Congress may be prepared to move forward with impeachment. All right, so there you have it. The speaker of the House is calling on vice president Pence, too, and the Cabinet to invoke the 25th amendment that can on Lee happen in everybody's talking about the Cabinet, invoking the 25th amendment, But the vice president has to be involved in that it doesn't go around the vice president, so I don't know that that's gonna happen, but the speaker of the House calling on them To do that in to remove this president today.
NYSE Says Again It Will Delist Three Chinese Telecom Stocks
"The trump administration is in its final days. But that doesn't mean that they're not still pressing ahead with their aggressive china policy when it comes to tech president trump has signed an executive order banning transactions with aunt groups ali pay tencent's wechat pay and q. Q. as well as five other chinese payment apps quoting reuters lee order argues that the united states must take aggressive action against developers of china software applications to protect national security it tasks the commerce department with defining which transactions will be banned under the directive within forty five days and targets tencent holdings q. q. And we chat pay as well quote by accessing personal electronic devices such smartphones tablets and computers chinese connected software applications can access and capture vast swaths of information from users including sensitive personally identifiable information and private information. The executive order states such data collection quote would permit china to track the locations of federal employees and contractors and build dossiers of personal information the document ads and quote so as i've said several times when it relates to the subject i still haven't developed a definitive opinion about this whole tech cold war with china. Smart people. I know really do believe that. China's tech ambitions are set to the us's dominance in various ways and so must be meaningfully countered the problem. I'm having though is at least these last few years. The trump administration in my opinion hasn't put together a coherent argument about what they're doing. Or why so. It's hard for me to even form an opinion. That's not me being political. That's just me being someone in the tech industry that feels this whole posture. Vis-a-vis china by the government has been maddeningly inconsistent. So far case in point after pressure from the us government. The new york stock exchange said it would delist the stocks of three chinese companies china mobile china telecom and china unicom in order to satisfy an executive order imposing restrictions to prevent american companies and individuals from investing in companies identified as being affiliated with the chinese military. Now that was always the plan they were going to list these three companies and then two days ago the nyse reverse course and said it would no longer dealers those companies now today. they're reversing the reverse quoting cnbc. The exchange reversed that decision on monday causing much confusion treasury secretary mnuchin told the exchange that he disagreed with the original reversal. A senior administration official told. Cnbc's eamon jabar's the mis's said the latest reversal was due to new guidance. From treasury's office of foreign assets control that said people in the us could not engage in certain transactions with the three companies as of next monday trading of the three securities will be suspended at four pm eastern time on monday the exchange said and quote. See what. I mean confusing as all get out isn't it. China mobile is a one hundred billion dollar company. I believe they've been listed on the nyse for more than a decade. As i said before around these issues capitalism requires a clear set of rules that everyone involved in the great game of capitalism can understand if you don't know what the parameters of engaging and capitalism are then that's not capitalism so i guess one of the bigger questions going into the new year does president biden have as big an ax to grind with china tech as president trump. Did and will we get a more coherent position. Vis-a-vis chinese tech
Sudan says it signs pact on normalizing ties with Israel
"Sudan has formally signed what are known as the abraham accords to normalize ties with israel treasury secretary steven mnuchin was on hand for the event. Npr's michelle kellerman has details. The trump administration has been encouraging arab states to normalize ties with israel in exchange for separate deals with the us in sudan's case the us remove the african nation from the state sponsors of terrorism list in order to ease sanctions after sudan agreed to compensate victims of several terrorist attacks in africa. Mnuchin also says he signed a deal to provide a loan to sudan to help it clear about one point two billion dollars in arrears to the world bank that could provide much-needed international help four sudan which had been a pariah state during omar shears thirty year role. He was ousted in twenty. Nineteen michelle kellerman. Npr news
Biden's pick to lead Treasury made over $7M in speaking fees
"President elect Joe Biden's nominee for treasury secretary has earned more than seven million dollars in speaking fees from financial firms which could become an issue during confirmation hearings after Janet Yellen's term as fed chair expired in twenty eighteen the prospective nominee to head the U. S. treasury earned millions of dollars speaking at firms like Citigroup Goldman Sachs and Google lucrative speaking fees became an issue for Hillary Clinton when she ran for president in twenty sixteen but Democrats say Yellen has been transparent and they're confident her nomination will go forward financial disclosure forms also revealed secretary of state nominee Antony Blinken received more than a million dollars as a co founder of west exacted by users whose clients include bank of America and Facebook some ethics groups had warned that some of Biden's picks reflect the so called revolving door between public and private sector positions Jackie Quinn Washington
Joe Bidens presidency
"And foremost happy new year to all our listeners. At the ever present risk of tempting fate it does feel like two thousand and twenty one can only be an improvement on two thousand and twenty one. Primary cause for optimism is the fact that after january twentieth earth's most powerful office will no longer be held by america's worst on imprisoned citizen description. Correct as of this broadcast between an untamed pandemic economic crisis and the spectacular mess made in general by president. Donald trump president elect joe biden faces a daunting oval office in trae won joint first of all by christchurch mcnichols news editor and by suzanne lynch washington dc correspondent with the irish times in this first part of the show. We'll look mostly at what president-elect joe biden wants to do and will do domestically but chris festival on that thought of succeeding donald trump. How much political capital does joe biden inherit just by virtue of not being donald trump. Well to be honest in some ways. That is a question that will be. I think more important end to discuss in the second half of our show. We look at foreign policy. Because i think that is where there is arguably a lot more political capital. You know joe biden will enter office of this month to lead a country that is still extraordinarily divided. It has to be said that whatever Court decisions were taken efforts to reverse. This election rejected by courts and by many academics. Who saw you know and others observers. Who saw no real evidence of fraud. It is important to point out. I think that potentially a majority of republicans are going to come into this year. Voters believing. Joe biden is illegitimate that that is not correct. That is not that is not what happened. But it is nevertheless a danger for democracy. And it's something that really i think is important to watch. Joe biden essentially has a tremendous amount of goodwill from half of the country who expects him to reverse many of the policies that donald trump implemented over the last four years and he will do a number of those from day one but we should not forget the other half of the country that will be causing a huge stink about all of this and it will be very interesting to watch how he tries to bridge those gaps particularly when it is such a strong divide as i say even in the sense of many just simply not even seeing him as their president suzanne to bring you in that division that chris delineates the is going to make extremely complicated one question. Joe biden will have to grapple with which is what does he do about donald trump. Does he as best he can. Just ignore him and hope he goes away or does he turn various congressional committees and the department of justice loose to try and get to the bottom wherever it may be of whatever. Wrongdoing was done. I don't think joe biden instinct will be to do that. I mean joe biden has presented himself very much as the kind of the nation's healer. He's talked about his own track record when he was in the senate for so many years of working across the aisle with republicans and working productively republicans. Now some might say that. Joe biden is suffering from naive radio. That washington has changed. That things have become much more polarized on they have in the last decade or so so he for example has has quietly hinted at his relationship with mitch. Mcconnell mitch. mcconnell is more more than likely going to be leading. i'm the two men have worked together. Particularly joe biden was vice president and mitch mcconnell in the senate and but even still you know. We saw mitch mcconnell reluctance to add call. Joe biden president-elect even though he had had won the election so that is a major at challenge for at for joe biden is going to be handling congress also. The problem facing him is democrats did very badly in november's election in terms of their seats. Both the senate and the house so not to pelosi now coming into a new year coming into a new congress with a much reduced majority and that is going to make things tricky for her. She's going to be tried keeper own party in check and i think a lot of the more left wing elements of the democratic party. Who basically were prepared to put away their differences with the establishment democratic party. If you like to try and defeat. Donald trump i now all gloves off and i think we're going to see this element of the party. The bernie sanders winged. Aoc wing. you know. Really kind of be vocal about what they believe. This joe biden presidency should deliver so i think you know that whole political reality of how washington is going to work with the mats in the house and the senate is going to be a constant challenge for joe biden other tries to govern. We'll chris let's look at the most pressing issues that will face president joe biden which is of course the covid nineteen pandemic now. Obviously there are grounds for optimism. Which is that a vaccine exists but it is going to take a while to get it to everybody. We are still months away from normality returning to the united states. Between now and then is there anything. The president biden will actually realistically be able to do to make an obviously already dreadful situation slightly less dreadful. Well i think he is going to try his damnedest to do that. he has set this or that that we all know now of Essentially a one hundred million doses of the vaccine in his first one hundred days disseminated to the public That's an ambitious goal. Although at the same time it it should be said that this was A goal if you will of the trump administration as well And this was. This was something that was planned. They had essentially bought one hundred million doses for the first quarter But the biggest challenge that we are going to see this In these first one hundred days is really going to be how that is disseminated. How is it gotten through to hospitals. you know and how states and local authorities cooperate with the federal government in order for that dissemination to take place how the army is potentially involved. It is a herculean task to get all of these vaccines out as quickly as joe biden has promised and i think it's going to be interesting because on the one hand you know he is as we you know he's he's still not president until january twentieth much of the work on this has been done by the trump administration At the same time there is you know there is this risk if you will or you could also put it in a positive way. There's an opportunity in that joe biden. I think will very quickly find that. This becomes his pandemic to deal with. And that he will be reckoned with in terms of how he is able to get certain programs underway. That means that his people his entire operation is really going to have to hit the ground running incredibly quickly when they take over in particular because they also have not gotten that much help that much cooperation from the trump administration in the transition. Suzanne joe biden has of course being in the white house during one previous dramatic intervention in the united states economy. When he and barrack obama arrived in the wake of the two thousand eight collapse will he be tempted towards something similar in the current circumstances or preceding more on the assumption that wants the vaccine is taking effect. The us economy will more or less sort itself out. Well it's it's a very good point. Under i mean i think there are lots of parallels here actually to what obama faced obama joe biden back into into a nine and you know even between the election on the inauguration i mean america. I'm particularly america then. The wider world was embroidered the biggest financial crisis in decades. And they have to deal with that. So yes there are a lot of parallels i think joe biden has a proven record on this and they were able to pass the tariff act. They did the the bailout fund for the auto industry hugely complex pieces of legislation. Where a lot of money involved. And that may well be the case. Again i mean the. Us economy at the figures december have been worrying. There has been worst. Jobless figures than had been expected am the signs of recovery. We saw in the late summer. You know really didn't continue as we kind of got into that second. Wave around thanksgiving time so i think the economic consequences. This you know are really not getting. Maybe enough attention here. Obviously so at the figures are overwhelming in terms of the deaths the infection rates and but there's also a huge impact on the economy. And i think we're going to see i. I believe around the world. It's it would probably accentuate this. You know the difference between the house and the have nots. If you like you know the poorer are are people who are have lost. Their jobs are in less secure. And yes we're seeing the stock market. Do very very well throw twenty twenty and a lot of people. You know hoarding cash. Essentially as saving. So these kind of issues i think are going to be front and foremost for joe biden particularly. I mentioned already because of this very strong left wing within his party. They want joe biden. Who who has been pivoting. More to the left economically i think for example compared to say a hillary clinton at the time you know four years ago and i think he has suggested you know with his pick johnny yet and his treasury secretary. She talked about for example. The need to address structural issues economic inequality along racial and gender lines in the united states describing how they are important for the economy to address that. So you know what he's going to do in terms of getting more covert relief. Package is going to be a key element of this first one hundred days in parallel to the huge logistical challenge of getting those vaccinations out trying to encourage people to get vaccinated etc and again. This is all going to depend on his relationship with congress and these are going to be. It's going to be a lot of money involved in this and Republicans in particular in the sandwich have been At loggerheads with democrats out late twenty twenty about the size and scope of a of any rescue package for the american economy and you know commentators ironic air pointing out the national dash went way up under trump a now are we going to start hearing republicans complaining about the national debt. So i think that whole aspect as i say in parallel to the the health issue is going to be a key concern for biden in the first few months presidency. Chris susanne mentioned there a couple of members of president-elect biden's domestic team we should talk about obviously the highest profile member of that domestic team which vice president-elect kamala harris do. You anticipate that she'll be a more visible and obviously engaged vice president than usual because it's going to be a very different relationship. Between her and president biden vice president biden had with president barrack. Obama perhaps ironically as things have turned out biden. wasn't really seen as a natural apprentice. successor To the much younger president he was he was running alongside whereas you already. Since there's a a feeling gathering kamla harris's president in waiting. Well i think To continue the two thousand two thousand nine parallels in in some ways. This is a sort of the reverse of that. As as you're discussing. Because i think when joe biden came into office as vice president he sort of provided the experienced the heft to the to the obama administration as the time as the sort of political establishment candidate for you know a relative neophyte in barack obama at the time and so his role You know he was. Obviously you also had before that dick. Cheney famously is maybe the vice president who really transformed the role but joe biden sort of ran with that and he was this You know incredibly powerful Very involved vice president as involved if not more involved than dick. Cheney was as vice president you know before that vice presidency often was seen as this very unimportant role and so i think in that sense perhaps looking now to kamala harris In some ways there's a reverse there because she is not the one providing the heft if you will joe biden is now even more experienced than he was back then so he will be the the fully experienced leader if you will in this campaign In this in this white house And so the question will be in that sense. What kind of room. He is willing to give kamala harris. What exactly she is going to put her stamp on In terms of us. And i think that's still a bit of an open debate. He obviously picked kamala harris because they have a good working relationship. She is somebody who was Arguably more of a centrist than some of the other candidates that he could have picked. You know she's not from the bernie sanders wing of the party. I think that was important because in wanted to pick somebody not only who was historic in terms of being a woman. I african american as well in the vice presidency But really somebody that he could have a good working relationship with in order to use her as both a trusted adviser and entrust her with leading on certain issues. So i think it will be very interesting to see how that relationship plays out and finally as you say as one point he obviously has not expressly said it but many would assume. There's a very good chance that joe biden will be a one term president and so in that sense. Yes this is. Come a harris's chance to really show that she is the one who will take up the mantle of being the leader of the democratic party of the future christchurch. Mac thank you for the moment.
Protection of Personal Data in Blockchain Technology
"Zor. Res- asks what do you think about. Privacy designed blockchain so. It's kind of interesting because these blockchain's are sort of under attack. I guess you could say from regulation right now. A melted mirrors actually talked about this in the episode that he did with her and lynn alton Where she said that. That's kind of the main thing she'll be looking out for twenty twenty one and i think You know we at this moment that i'm recording this. We only have rumors about what type of regulation it was that Treasury secretary steve mnuchin wanted to put on crypto right. Now because i think actually you privacy coins were in the crosshairs and this was something night. Jessie liu who came on unconfirmed talked about She was the what was it. Former attorney for dc. She's prosecuted a ton of cases are around some of the biggest ones involving illegal. Use bitcoin and via actor state actors like north korea or by the child porn website in in korea. Welcome to video. And and some of the other big criminals like terrorists and stuff and weight point. Is she highlighted by a something that she was noticing in. I can't remember it was the dot enforcement framework actually and I do think you know this is going to be something that comes up again because brian brooks the action control of the currency. Also kind of you know. When i asked him about what how he thought the. Us might regulate privacy. He said oh well you know the. Us is different from other countries because we're We're the victims of terrorism or or were subject to terrorism or something like that and he said that he thought people would be willing to make a trade off for that. Which i thought was very interesting. A really was curious to know what the crypt communities reaction was to that comment. But yeah so. I think we're going to see that kind of come up as a battle and i actually. I would be surprised. If in the end there wasn't some way to have Blockchain side feature privacy prominently because in a way. I can't imagine the technology really taking off in all the ways that it could take off if there wasn't such a feature and you even see that like in a forthcoming episode. I have unconfirmed. It's a panel discussion but there is somebody from the federal reserve who talks about building systems for central bank digital currencies. Who says you know flat out like you can't design these systems unless you have privacy you as a consideration from the beginning he said it cannot be an afterthought and and he's talking about for central bank digital currency so. I really do think that you'd at least some of these vaccines will have to feature it prominently and i. I don't think that we're going to end up with blockchain set it at all. I would be surprised on a long enough time scale. I do think in the in the beginning. There might be a bit of a battle. But i think after we got real adoption then i would be very surprised if we don't start to see more privacy
$600 stimulus payments have started going out, Treasury Secretary Mnuchin says
"Of Americans are starting to get those $600 payments from Washington. Some Americans may already have that $600 Cove in 19 relief payment, lawmakers agreed on in their bank accounts direct deposited by their uncle Sam. Treasury Secretary Mnuchin said the I am was to start direct depositing those payments last night paper checks will start going out today. I'm Rita Fall Way
GOP Sen. Pat Toomey's fight to end emergency Fed lending programs in Covid bill
"Let's talk about the fed. Let's do it. I mean why not. We're we're on skis. We're in the park screams central banking. So you know the federal reserve in normal times. We think about the federal reserve setting interest rates in emergencies. The fed has this other really important job. We call lender of last resort traditionally they went to banks and financial institutions when. There's a panic when nobody wants to lend to anybody. Credit is collapsing and they did that this spring when nobody wanted to lend to everybody and credit was collapsing. Just good prevented a financial crisis. But they went even further the really interesting novel stuff. The fed was doing was largely lending not just financial institutions but also to almost everybody else to cities and states to medium sized businesses large businesses. This stuff the fed hasn't done since the depression and almost one hundred years this sort of insurance in case that the economy would down again and then all of a sudden just a few weeks ago these obscure parts of the federal reserve. Become front page news. As as you know everybody will recall. Congress was debating this big Hundred billion dollars support package for the economy with expanded unemployment checks and all these things almost to an agreement. They got a bipartisan deal. And then out of nowhere. This one senator. It's like wait. Let's talk about those random fed lending programs. This is an exaggeration. Senator pat toomey republican. Pennsylvania holds up the entire package for all the united states of america. Because he's like i wanna talk. I wanna talk about the powers of the federal reserve argument. Is you know these were emergency programs. They're like way outside normal fed behavior. The acute phase of the emergency is over and like it's not the business of the fed to just keep offering loans to cities and states and corporations and i should say by the way the political subtext that people have talked about. Here is pat. Toomey a republican. Obviously a democrat is going to be the president and so the subtext is. Is he trying to take power away from the fed because he doesn't trust the democrats. And you know. Janet yellen who will be the treasury secretary who will be working with the fed on emergency programs. I took a break from news. And i know that they resolved this issue. But how did they do it. So the worry win. Senator toomey brought this up was that he was going to sort of her. Kneecap the fed the worry. His first thing was like okay. The fed has to stop doing these lending programs very soon and people were basically okay with that but then to his next thing was and also. The fed can't relaunch something similar to this without special approval from congress so the resolution was they gave to me the okay. Yes it's gotta end now but they narrowed the second part of the way the second part worked out in the end was the law actually says the fed can't recreate programs that are essentially the same as the ones they just shut down. They can't just turn them back on and be like okay. We're doing it again. This is this is a new one. That's not okay and really. Interestingly the bill actually include specific language to say we congress are not taking away any emergency lending powers that the fed had before this year. We're not trying to make the fed weaker in the long run. We just don't want to restart these exact programs. The federal reserve retains all of their traditional powers that they've been granted in well for now
McConnell ties full repeal of Section 230 to push for $2,000 stimulus checks
"Are being issued. President Trump's Treasury secretary, says those new stimulus checks turns shipping out to millions of Americans via direct deposit Last night, President Trump responding on Twitter quote unless Republicans have a death wish, and it is also the right thing to do. They must approve the 2000 are payments ASAP. 600 is not enough. Said. Majority leader Mitch McConnell blocked unanimous vote on those $2000 stimulus checks requested by the president. Instead, he loved them into two other proposals. The president wanted repealing section 2 30 that protects big tech informing advisory committee that will study results of the 2020 elections. Fox's Lucas Tomlinson
$2,000 stimulus checks stall in the Senate as Treasury starts to send $600 payments
"President Trump on Twitter today, again calling for the Senate to increase covert relief payments for Americans to $2000 as $600 payments are being issued. President Trump's Treasury secretary says those new stimulus checks turns shipping out to millions of Americans via direct deposit last night. Prison. Trump responding on Twitter quote unless Republicans have a death wish, and it is also the right thing to do. They must approve the 2000 are payments ASAP. 600 is not enough, said Majority Leader Mitch McConnell blocked unanimous vote on those $2000 stimulus checks requested by the president. Instead, he loved them into two other proposals. The president wanted repealing section 2 30 that protects big tech informing advisory committee that will study results of the 2020 elections. Fox's Lucas Tomlinson in
US stocks open broadly higher as trading for 2020 winds down
"Boosts optimism in one of the final trading sessions of the year. Tech shares were among the best performers in the S and P 500 stocks are pushing to new highs today. The drive to get $2000 stimulus checks to Americans remains bogged down in the Senate Majority leader Mitch McConnell blocked an attempt to set up a vote on a house passed bill. It would boost the payments from the current $600. Some people may have received those $600 stimulus checks last night, U. S Treasury secretary Steve Mnuchin tweeted that the checks could start arriving in some accounts by direct deposit as early as last evening. He said paper checks would start going out today. And just like last time, you can use the iris website to check the status of your payment. Meanwhile, unemployed people claiming federal
Global stocks rise after Mnuchin says $600 stimulus checks will begin arriving this week
"New developments. In a big story. Kevin, both his girlfriend and his lawyer warned authorities in Nashville Anthony Warner was making bombs. 18 months ago. Ward seven on Katie K Radio, your money and you Morning report with pepper Intelligence, Jamie Merit if Wow, I can't wait for that report coming up after seven o'clock. Thank you. Paul. Yeah. Here's Jamie MEREDITH. Different till it since Jamie MEREDITH. What's going on? How's the markets reacting to while the I guess you could say the jockeying back and forth over $2000 stimulus? Yes, that continued drama and that sent the markets lower yesterday, they ended slightly lower as hopes for an increase in the relief checks. L. A Senate majority leader. McConnell did some political finagle ng to all but blocked the passage of the increase for folks waiting for the approved $600 check. This is good news. Treasury secretary men Yushin announced yesterday that paper checks will begin to be mailed out as early as today. It's expected to take several months before everybody gets their distributions, but those checks are starting to be sent out today to check the status on your payment if you qualify for the check. You can use the website that was set up for the care. Zach distribution. That website is I r s got Gove Gov forward slash get my payment that Iris, But Gove Forwards last get my payment and you'll be able to check the status of your check of a good news for individuals worried about a disruption and their unemployment check the Labor Department and now said it does not anticipate there will be a lapse of benefits for those receiving benefits under the Pandemic Unemployment assistance program or the Pandemic Emergency unemployment compensation program. These benefits technically expired on Saturday from many recipients and we're re started on Monday when the president signed the relief bill, but there should be no disruption In those
McConnell rejects standalone $2,000 checks, ties increase to other Trump requests
"$600 stimulus checks are being mailed out as Mitch McConnell blocked a vote to raise the checks to $2000, Trump's Treasury secretary says those second round steaming this checks started shipping out to millions of Americans via direct deposit in the Senate. The building increase those payments in $2000 at a roadblock. However, the president highlighted three additional issues of national significance of what he would like to see Congress tackle together this week, the Senate will begin a process to bring these three priorities into focus. Senate Majority Leader Mitch McConnell and Tuesday blocking unanimous passage in this 2000 are stimulus checks requested by the president. He lumped them together with two other proposals. The president requested repealing section 2 30 the protections for Big tech. Forming advisory committee that will study the results of the 2020 elections. Democrats call those poison pills. Governor
McConnell blocks $2,000 stimulus checks
"Demands from President Trump. This is more Republicans are getting behind President Trump's $2000 direct payments. Treasury Secretary Steven Menu. Shin says $600 stimulus check payments could start arriving in bank
Fed extends Main Street lending program's termination date to Jan. 8
"Fed has delayed the termination of the main street lending program by a week. The end date now, January 8th. The hope here is to finish processing. Loan submitted by a deadline of December 14th. Now the extension has already been approved by Treasury Secretary Mnuchin. You know, the Main Street London program has struggled to live up to its initial promise to provide as much as $600 billion in credit to companies damaged or adversely impacted by covert 19.
Second stimulus check: Will you get $2,000, $600 or nothing?
"Is scrambling to send out one time stimulus payments who millions of Americans starting as soon as this week. Treasury secretary. Steve Manoogian. Promise to dispatch stimulus checks to families this week of plan thrown into turmoil, of course after President Trump refused to sign the stimulus package. So now how soon do we get it? Well, they say the electronic deposits could go out. Tomorrow to Morrow will get paid to Morrow directive posits on its way and I should have been a Broadway star. Say Wednesday and Thursday. Large tranches could go out, according to senior official of the I. R. S who spoke on condition of anonymity, describing the early plans. What else happens Well, we did have you know Holiday week? So who's Who's gonna work on Friday, right? You have the delay last week, So could they even get things ready? President didn't sign anything, and you have the holiday. You've got banks that are not gonna be open because of New Year's Eve. New Year's this sort of thing, so they're few other things throwing wrenches in this Are we going to get paid tomorrow? Don't be surprised if it's not there. What It could be that sometime tomorrow, you check your account, or you got a text message that says, ah, Large deposit has been made in your account. Which will be good. You'll be excited to see that money. And I've said this before, even if you oppose it.
Cheques, imbalances: Americas fraught stimulus
"America's house of representatives passed another version of stimulus bill yesterday. This one promising. Two thousand dollar checks to the majority of americans use would make a difference in the lives of americans who are facing the greatest uncertainty that they've experienced for many of them in their lifetime. It's unclear if the measure will pass in the senate making it yet another twist in a last minute. Saga to provide economic assistance to millions of struggling american workers and businesses the original two point three trillion dollar spending package included nine hundred billion dollars for pandemic relief in addition to funding the federal government for the next year. They was hastily negotiated in the run-up to christmas by a bipartisan group including president. Trump's treasury secretary steve mnuchin but after it was passed by the house and the senate. Mr trump criticized the bill saying it didn't do enough to help. Ordinary americans in really is a disgrace for example among the more than five thousand pages in this bill in the end. He didn't make good on his threat to veto the legislation on sunday but he demanded another congressional vote on increasing the value of the stimulus checks. A measure supported by many more democrats than republicans. I worry that this wapping four. Hundred and sixty. Three billion dollars won't do what's needed stimulate the economy or get the jobless back to work. Whatever the outcome the relief couldn't be more needed. Government has been deadlocked on the matter for months and in just over three weeks. It'll be president. Joe biden who inherited the budget. The stimulus plans and the problems brought about by all the footdragging. Congress rarely compromises these days injuries. Cologne is the economists. Washington correspondent and it was truly a compromise measure. That will do some good I think for the american people. So what's in the bill actually been passed by both houses and signed by president trump. the new sumo's spill that president trump signed into law includes a couple of important provision. One of which is another round of direct checks civil. Go to americans. These are going to be half as big as the ones that were passed in march so these will be six hundred dollars per person as opposed to twelve hundred and there's also going to be a new federal top in unemployment benefits. Most americans have beginning six hundred dollars a week until those benefits expired back in august. The new benefits are going to last for eleven weeks and they will be about three hundred dollars per week. And there's a few other things it's very long. Bill is fifty six hundred pages. Almost that was negotiated very much at the last minute. Among the more important parts are another three hundred billion or so which are going to be allocated for the payment protection program which subsidizes businesses to make sure that they don't have fire people and why the president trump had Such a hard time signing why the delay. That's an interesting question. Depends on how generous he wanted to the president. Many people pointed out the seeming lack of logic about refusing to sign a bill that had been negotiated with his administration. Nancy pelosi of negotiating with steve mnuchin. The treasury secretary about the contours of the bill and this compromise was was forged with mitch. Mcconnell the republican leader in the senate there had been little indication before the bill was actually passed that donald trump had match of objection to it wants. It came to his desk. He thought of the bill was pathetic and that it needed to have much more generous person check but ultimately donald trump decided not to hold up the bill and and this is a relief package that americans have really been waiting some time for. Yeah absolutely the initial cares. Act was a huge injection of stimulus. But it was passed all the way back in march and a lot of the major provisions of the cares act expired back in august and interestingly because that was more than two trillion dollar bill what you saw in the first month of the pandemic was actually pretty solid progress against already in america. You saw a twenty five percent reduction from its pre pandemic levels and what you've seen since the expiration of those benefits is a very fast resurgent so all of those gains in poverty reduction have been Erase this point and if you look at other indicators of hardship whether it's the sheriff families who say that they can't afford food thirteen percent of american families right now are saying that they have not had enough to eat in the last week from the latest census bureau. Polls you see thirty percent of americans who are renting say that they have little to no confidence that they will be able to pay next month's rent and those measures that we've been tracking have gone up significantly in the past couple of months and put this into some context. How does this This relief package on the whole compare with with similar ones offered by other countries britain germany. And so on so at this point america. We'll have done over three trillion dollars of direct stimulus. And if you compare. America to other countries on the basis of how much money does it immediately inject into the economy. America looks fairly outstanding. Where america doesn't look as generous on the stimulus front is on its guarantee. Liabilities made with businesses so european countries are much more likely to guarantee loans use the central bank much more than america has used the fed as part of their strategy for addressing similar. So depending on whether or not you think. Direct relief to americans is more important You could say that america's really well if you think that subsidising businesses and making sure that they stay open is the vital point of covid relief that you could say that the europeans have done better but another facet of this was that the bill apparently contains what president trump called the pork but a lot of provisions that aren't sort of directly related in that way it does and that's in part because it was attached to the bill that keeps the government open in funded for the next year and that obviously has a lot of unrelated provisions because it is the bill that funds entire federal government. You know there are measures on a teddy roosevelt presidential library. Independent commission to oversee horse racing. Racine those kinds of things have been snuck in but also some provisions that might not have been obviously related to covid but that are probably good like an end to the practice of surprise billing which is basically where you go to a hospital. That's in your insurance network. You're treated by dr who is affiliated with a different network and you get a very large bill and all this is happening of course in the in the twilight of mr trump's presidency. Where does this leave. Joe biden as as he starts to come in this really sets the initial conditions for joe biden's presidency a lot of the unemployment benefits for example will expire in mid march which will mean that there will be some period of renegotiation. We saw chuck schumer. Who is the democratic leader in the senate say that the bill will only partially cover some of the depths that americans are in right now economically. Unfortunately the troubles are so deep. The abysses so long that we need more and this is just a first step. This is an emergency. We need a second bill to continue. So that's going to set up a new challenge for them in the opening days of the administration when biden would probably rather try and pursue a big legislative victory like infrastructure. Or something else. A lot of it is gonna turn on what happens in the upcoming senate races in georgia. The runoffs will decide the last two seasons senate and that will determine whether or not democrats or republicans control it if republicans keep those seats and democrats. Don't have control of the senate. I think it's probably quite likely that this is the last big stimulus measure that americans are gonna see addressed. Thank you very much for your time. Thanks so much for having
"treasury secretary" Discussed on Marketplace Morning Report with David Brancaccio
"This. Marketplace podcast is supported by guideline with a guideline 401k. You and your employees can save money while saving for retirement. There are no separate setup. Costs no added. Investment fees and monthly fees. Started only thirty nine dollars. Plus eight dollars for each employee for a limited time if you go to guideline dot com slash marketplace and tell them you came from marketplace morning report. You can get a one hundred dollar gift card if you do not currently offer a 401k. Plan for your employees when you start your 401k plan with guideline that's guideline dot com slash marketplace tell them marketplace morning report sent you. We've been reporting on the plans of retailers to try to make shopping safer with the holidays upon us today. A look at differences of opinion in retail about just how festive the store should be. Here's marketplace's andy. Euler decorating store for the holidays. Takes time and money. Bob phibbs who runs the consultancy. The retail doctor says businesses are generally of two minds about it this year. Independence seemed to be going stronger with nurturing. The customer wonder and amazement. Think will ferrell's defamation extravaganza moving l. santa's going the show which do other retailers are going cheap and saying. Oh people are going to be any way difference. Does it make usually would make a lot of difference. Says branding consultant denise leon. She says decorations helped shoppers. Get in the holiday spirit but during a pandemic store owners or grappling with a new question. Are we being responsible by attracting people to our location. She says in lieu of big displays many retailers are diverting resources to giving customers of virtual holiday experience and also making sure their search functions and e commerce platforms can handle the heavy load. I mean euler for marketplace. I'm david brancaccio. You're listening to the marketplace morning report from apm american public media. Hey everyone i'm as host of the marketplace podcast. This is uncomfortable. Talking about money with friends can be hard for him and a lot of my other punk friends. Saying i came into like four hundred. Fifty thousand dollars would be like saying. I came into a million jillion dollars. How one man hit a huge windfall from his friends. Like this dirty little secret until you no longer cud. You can catch this episode of this is uncomfortable wherever you get your podcasts..
"treasury secretary" Discussed on CNBC's Fast Money
"Those will start being delivered to amazon late next year and when it does happen then ribian we'll be looking at a market where they're delivering commercial vehicles as well as electric pickup trucks as well as an electric suv. So watch ribian. I know a lot of people were saying. Boy there's a lot of publicly traded companies. They've come to market with specs. Melissa ribian though it's not public yet is is a company really. Want to be watching fell. Thank you felt. Let's look at the makers. today's session. They were higher across the board including tesla which hit a fresh all time high here. Let's trade it. Grasso phil makes a good point. You want to rock watch. Rabin got deep pockets as backers. Could it pose a threat. You think to a tesla sure it could. I like the fact that as phil said you do have the amazon investment. You have the ford invest a lot of investors. But it's amazing to me that we're not seeing the prices become more competitive. I would like to see these prices. Come down so. I don't know if you're going to buy this car or truck over a tesla cyber truck. I think that that's the that's the billion dollar question. I will say though. Blink blink charging is up two hundred and seventy percent in six days. And you know the headline that we all walked into today was three out of four of the nasdaq's top performers last week or in the ev space. So not only look at these car maker the makers. Melissa look at the people that are servicing. The chargers look at all the other domino effect in the industry. As well. tim. You tweeted at a really interesting stat on. Gm which is easy as well earlier today. Yeah see what you get when you read my twitter now. But the point is that gm's up fifty seven percent in forty sessions or so since Supposedly that that negative had faked. Nikola made it look like gm was the one that needed nikola rather than nico really needing gm. And i just go. Back to last quarter's profits for gm. Also which were record profits accompany. That's run very differently than it used to be back to the story a company with multiple i think access points into the dynamic which includes the fills documented with a lot of detail the twenty models that will be ready by twenty three including a lifestyle pickup truck as well so i mean i think they they can compete in there but the most important thing about gm. Is that a little bit of multiple rerating. These other car companies have extraordinary multiple multiples. Maybe they deserve. Maybe they don't but but taking gm from a six and a half current maybe seven times to an eight or nine times means. This is a sixty to seventy dollars stock before you really have to start worrying about the numbers being god especially based upon a future where he has to be a major part and clearly. They've not only talked about the spending but they actually have models ready to go guy. Gm or ford gm. For tim number. One to tim's point about multiple. You put a nine multiple on the six dollars or probably gonna earn. It's a fifty four dollar stock. So i think just in terms of multiple expansion. That's probably deserved at this point. General motors all right. Let's check shares of dell. Now they jumped higher ahead of tomorrow's earnings report. Stock is up fifteen percent since the beginning of november off containers are betting that a big move will continue when the company's results cross the wire got the action. Hey bhawan melissa. So yeah taking a look at dell calls up place puts two two one four. We're also seeing is the option volume was twice what we've seen over the longer term so quite a few insurance in today taking a look at the average move seven percent. That's what we see on earnings. Compare that to a nine percent move derived from the implied options in either direction between now and december and the trade. That really jumped out to me. Is the december seventy calls. Those are sold for two seventy five capping your upside at about one. Oh five percent. So they're really saying listen. We've seen a lot of companies. Come out learnings up the doors and trade off and they're expecting that trend to continue all right. Thanks for that and bottle and ice in coming up your last chance. The vote fastpitch..
"treasury secretary" Discussed on CNBC's Fast Money
"Say by like the the opportunity here with same player like the bet works and you you called it. If if they're in control of thirty percent of the float and the float is not that great to begin with it. Sounds like the stock has the ability to go much higher from here so although it's a tremendous move like all the guys have just said. I think the stock can do a lot more aggressively higher with that little bit of float in controlling thirty percent of it guy. You've got your whiteboard up already. So go ahead can you. Can you read that. Can you read that line. In the house of usher growl pope fans. I'm in the house of shirt. Well done stephen. I think despite the fact to set move. I think you stay with the name three out of four traders. Say it's by steven great to see you. Thank you so much for sharing that with us. We hope you'll come back soon. Steven sure standard general. The traders voted. It is your turn out there. Are you buying. Stephen ushers fast pitch on bally's owner twitter poll at cnbc fast results at the end of the show up next an electrified. Rally the ev. Maper zooming higher. Today coming up you'll hear from the ceo of riviera and they're not public yet but they've got big backers including amazon. How they hope to come out of the king King of the car market all that much more when fast money return. Welcome back to pass money. Private automaker rivi and going big on green is competition in the race. To electric vehicles heats up. What's the fill about. Who's got the details and a rare interview with the ceo fell. i'm melissa. You know we have talked a lot about electric pickup trucks. It's going to be a huge year and a half two years when it comes to electric pickup trucks hitting the market. Why are we talking about today. Today they opened up their configuration for orders of their new are won t electric pickup truck. Now this pickup truck is going to be coming out next year. The is the pickup truck. The are one ss the electric suv. By the way the are won t it starts at seventy five thousand dollars. They are excited about it. But it's entering a crowded market when you look at the electric pickup market. It basically breaks down like this in the mass market. You're going to have ford and gm in there. Those who are going to be focused on the work fleets includes lordstown motors which we have talked about extensively and then ribian along with the tesla cyber truck falls into that third category. The lifestyle pickup truck buyer rj garage the founder and ceo of riven thinks..
"treasury secretary" Discussed on CNBC's Fast Money
"Her You mean the world knows her so this is some a what is she going to be like. People know who janet yellen is. She's very clear. good communicator. So those are all everybody said. Those are that's what the market wants. It wants clarity at once. Visibility gonna beyond the team to kinda you know how things move forward. I wanna get to your market. Call what you published. Recently we know shorter term. You're you're looking for a pullback long term your bullish though. And i'm wondering if knowing the janet yellen will be. The treasury secretary will likely be the treasury secretary. Does that make you more bullish. Does it make you more optimistic. That stimulus will be bigger. We'll be more helpful to the markets. It'll be more helpful to consumers j. It'll be bigger better. But i do think it did release any kind of anxiety that things get hung up. I you know our callers that we still do think we need a little stimulus in the first quarter we think we're get it Once we get to the new government installed and get through this. Lame duck period Maybe it requires some market pressure On the market is pretty clear. The index is not really where the action is right. The market opportunity is beneath the index level. And that that's the thing we've been espousing all year and that does require an economy by the way to continue to improve. Okay I think the j. l. and pick is supportive to that idea. I think in the near term. We have to get through some things and nothing to do with this appointment in the market may need to you know kind of deal with that in the next month or two and maybe that creates anxiety one more time than the market has more twist up asleep but the reality is is that we're in a new bull market when the new economic recovery and you need to be skewing down the cap curve towards the more cyclical parts of the market. And that's yeah. That seems to be in gear. Pretty clearly here. Hey mike when you look at your picks it was just that where you left off. How much of that are you looking. At your picks through the prism of growth into value and today energy was the leader. Is that because of the vaccine growth into value or do people think that biden was going to be terrible on energy in our softening on that well today the interesting. They price action. The energy moves are always extreme when they get going. Because there's a lot of shorts energy space that that sector as like short. I mean that. I think that's over so outside. You look at the other. Typical sector industrials financials participated quite nicely. Small caps. And so to me. It's just a higher beta on on energy because of that short based so i don't i looked extreme on the screen. There was the best performer. But i think is performing in line with its natural beta and then the shore base is making it more extreme. But i don't think anything specific today was telling me. I need to buy energy more aggressive. He didn't say these others typical areas. Mike it's ten but what what has been moving aggressively are those things below the index. You're talking about whether it's a transports whether it's industrials the gm story. The airlines the recovery trade Where do you jump in. Because i thought today's market action was very bullish actually And i'm curious where you are. No i agree. And i think you know you and i've been on a similar page for a while. Which is you know. You need to force yourself to get away from the former leaders and look for new opportunities and it's exactly what it is it's in these These stocks that are more leverage to improve the economy. Down the captor. So you know once again. Matteo industrials energy could be that to the consumers. Typical area and also financial one stairs left behind. You know because rates haven't really moved yet. But the way i think about is the rate market is the one that's behind okay. Every other market. That i look at in the world telling me these are improved next year and for whatever reason. The rates market has been left behind. Because there's a view that the fed is gonna keep things tap down throughout the millie. Losing game economy continues to improve everything. It's going to later going to follow and so that leads me to believe that maybe financials might be the one that has the biggest upside potential because people are still leery of going there simply because of that rape story my grandfather. Thank you wilson. Morgan stanley you to. Here's to build on. Mike's point about this rally changing and getting out of the leadership names. This is what carter sent out moments ago by email each of the top five stocks and the ask five hundred index today declined while the index itself rose dan. I thought of you immediately. When i read that email. Yeah listen it's been my view. I know steve has been on this trade for a while. The sort of rotation. And i think when you have a day like today we see apple the largest market cap company in the world two trillion dollars market cap down three percent and the rest of the group down. And you're seeing that rotation. Here's where i'm just a little less optimistic in the near term. I'm kind of in. Mike wilson camp that the market is a little overcooked. Here you know. The fed's balance sheet has increased. What three three and a quarter trillion this year alone. We know that there's going to be one or two trillion more in just fiscal stimulus. Hopefully coming in the first half of next year at some point all of that debt. Hasta way on future growth. And i know that the rates where they are. It's great for stocks on a relative basis right now so i'm not so concerned when i think about the mega-complex these make major mega cap tech stocks correcting going sideways. A little bit because you have these moves in these other areas. But i don't really buy the moves in the other areas. I don't buy the materials. I don't by the energy i think we've goldman sachs causing calling for a q one. Gdp declined so. Are we in a w now. We're in a double dip. What's going on with the economy and the longer that this transition kind of just gets extended here the least likely we are to have our population inoculated under the best case scenarios which is really one economy can take up which is really when the stock market can take off. But i'm not so certain with all of this debt that we are just did getting to the bridge to the vaccine so we can get the stock market or can keep the stock market up. I'm not sure that's great for future returns it. I'm not sure that's great for future. Economic growth getting to the sector. That mike wilson likes. The most here financials guy your take. We've said for a while. William city was trained down to forty one dollars and it was fifty nine percent of tangible book. I know we said that. These were valuations. You re didn't even see the financial crisis and the stocks were too cheap. And now you're starting to see. The banks moved to levels that make more sense. I still think you'd see a rally in the banks. And i'm not some crazy bank bowl but you can get the city to eighty five percent of tangible book and it's probably a fifty eight sixty dollars stock and then you start to think about taking profits and i think that's true with some of these other names as well and my pushback with dan would be. I understand what he's saying about the resource trade. But i do think there's still room and resources freeport-macmoran names like that. we have talked about cleveland cliffs. They make sense. And these levered energy names which i know tim has talked about. Look at the moving over the last month month and a half and look at the move today so despite the fact that there may be headwinds coming. There's still some runway in terms of the stocks to the upside. Coming up..
"treasury secretary" Discussed on Squawk Pod
"A hero because that happened on his lobby at recovery. Every time we had when we have a recession, the economy's going to recover. That was still the slowest recovery in post. World War. History coming back from trump because you know because they focused on healthcare for the first two years instead of China. Was One that was one of the weakest one of the weakest recoveries that that we've seen compared to the Reagan recovery after deep recession. Job Growth and Danny Sonner president trump and the focus you're right was on things like getting the American people healthcare and you're going to see a focus under Joe Biden this for the American people talking about my neighbor I think about the retired public school teachers live next door thinking about the postal worker who lives behind me not going to benefit from this continue tax policy good only benefits, billionaires and large corporations, and again, the American economy in corporate sector can do fine and can do very well under a fair tax global. One that can actually allow us to finance what makes America. Great look part of why we have these success stories is education. It's infrastructure is the things that at one time were the best in the world and now? There's a measures where the US has fallen out of the top twenty fallen out of the top twenty five. If we were looking at developed countries, I mean if we were looking not even developed countries if we were looking at a developing country right now, one that's in the middle ranks of all the countries in the world and we're shown up with a with a clipboard figuring out how? Are that country GonNa make that a modernize and you saw rising levels of hunger. You saw difficulty controlling spread of disease any saw escalating political violence. And elite suggesting maybe gives up third. Say, this may not be a country that can act. That's what we've fallen into under president. Trump is time to get this country back on track before it's too late nothing common sense is telling us that it's obviously possible to have a lot of economic growth and a fair tax that we had today because that's what America's had for most of its modern experience. Last year's mayor before we let you go the big headline this morning in corporate America and really in Washington as well as the future of Tiktok, and now maybe a transaction with Oracle Julia, abortion reporting in part that the relationship between the trump administration and some of the senior executives who and founded Oracle May. May Be responsible to some degree. For the transaction going their way, what would happen and biting administration and what does the bottom of what what what does the Biden campaign think of what's taking place right now Or you're going to see any Biden Administration is division to put the American economy and National Security I. Look There's some very real turns to take and a lot of other software dependencies we've gotTa make sure is that they're prioritized. Based on whether the president was mad at somebody and they get resolved not based on whether the president is friends with somebody but what's actually going to make sense for? America and when you have a president who will actually reach his intelligence briefs Actually listen to what national security advisers has to say instead of A. On all of Dame's. And when you have the kind of oversight transparency that a frankly any republican or democratic administration other than this one is considered to be table stakes. We're going to have a much better deal these issues, mayor, Pete WanNa. Thank you as always for joining us and look forward to continuing hopefully this conversation as these next.
"treasury secretary" Discussed on KOMO
"The U. S. Treasury Secretary Steve Mnuchin, telling the House Select subcommittee on the Corona virus crisis. He's willing to work with Congress. We continue to see signs of a strong economic recovery. We are sensitive to the fact There is more work to be done, and certain areas of the economy require additional release. Senate Republicans hope to introduce a scaled down Cove in 19 Relief. Billa's early is next week. Daria Aldinger ABC News News 1000 FM, 97 7. Good afternoon Come on his time to 31 Sunshine and 76 in Seattle. I'm Charlie harder with a look of the day's top stories. Police have once again moved into Cale Anderson Park on Seattle's Capitol Hill. In a statement obtained by Cuomo News, the city says the decision was made to clear the park following numerous reports of vandalism in recent weeks, said he goes on to say the park was used as a staging area by organizers of the protest that turned violent at the nearby East Precinct last week. Park has officially been close since June, 30th after officers cleared out what had become a protest the zone there. The city says it is offering housing assistance to those forced from the park, but also says staff will be in place in the days ahead to remind people the park is closed. The FBI is assisting in the search for a missing Parkland woman, Cassandra Cantrell disappeared on her way to a doctor's appointment last week. Investigators are treating the case as if it were a homicide and are searching the home of Cantrell's ex boyfriends. The FBI's here to process the home for multiple reasons for evidence that's.
"treasury secretary" Discussed on Squawk Pod
"I'm CNBC producer. Katie Kramer Today on our podcast Treasury Secretary Steven Mnuchin on the paycheck protection program that was intended for small businesses but his inadvertently extended relief too much bigger players. I never expected in a million years that the Los Angeles Lakers which. I'm a big fan of the team but I'm not a big fan of the fact that they took four point six million dollar loan. I think that's outrageous and I'm glad they've returned it. The Coronavirus Task Force member explains how federal stimulus efforts are working and not working. How the government will review large loans before granting forgiveness and how this crisis is unlike ones that came before but businesses had nothing to do with this. This was not bad business. Decisions like in the financial crisis is not over levered real estate. The Treasury Secretary says this time around government crisis response should also be different class. Brown University President Christina Paxson on getting back to school this fall students are still learning. It may not be under ideal circumstances but during this pandemic nobody is working under ideal circumstances. It's Tuesday April. Twenty eight twenty twenty squad. Pod Begins Right now. Good morning everybody. Welcome to Squawk box here on CNBC. I'm becky quick along with Joe. Kernan Andrew Ross Sorkin the paycheck protection program or the PC resumed yesterday with a new influx of three hundred ten billion dollars from the federal government. That is intended for small businesses for more on this right. Now let's welcome Treasury Secretary Steven Mnuchin and Mister Secretary. Thank you for joining us today. Good morning it's good to be with you. It's good to talk to you. You know I was hoping we can start with a little bit of a dive into how you see this program. What's happened there has been a lot of outrage out? There as people found out that some big companies had applied things. Ruth's Chris Steak House shake shack autonation. Some of their car dealers getting money in this program and there have been some reports in the media about big banks putting those big customers first in line ahead. It's small businesses. I know that you've come out and said that this is really intended for small businesses. That don't have access to the public markets. But I just wondered if you've had a change in your thinking on how this should be used as as this whole situation evolved as the markets kinda firmed up a bit or if this was something that you thought from the very Gecko and you think some of these big companies. Big Banks are are in the wrong and we're bad actors in this situation. What how did this evolve? Let me first say I. I really think the program has been an incredible success. It's impacted over thirty million workers so far and by the time we get through this funding. I think it will have impacted over sixty million workers which as I've said before is about half the private workforce supporting small businesses that was always the president in Congress's intention and that's what we're delivering on. I think it is. It is unfortunate that there's a small number of companies that have created a lot of publicity that took loans. I think it was inappropriate for most of these companies. Take the loans It was clear. There was a certification We don't think they ever should have been allowed to we put out an Faq clarifying the certification in saying that if they paid back the loans in two weeks so that we could reprocess that money they would have no liability otherwise they would have liability. And I I must say I'm encouraged by the number of people that have paid them back. I never expected in a million years that the Los Angeles Lakers which. I'm a big fan of the team but I'm not a big fan of the fact that they took a four point six million dollar loan. I think that's outrageous and I'm glad they've returned it or they would have had liability and let me just say I'm GonNa be putting out an announcement this morning that for any loan over two million dollars the SBA will be doing a full review of that loan before. There is loan forgiveness so we will make sure that what was the intent for tax payers is fulfilled here but let me say again the program overwhelming success a million of the loan so far or for companies under ten people. What do you think the impact has been in terms of trying to keep people employed have? Have there been people who have gone and had to file for employment or do you think that this program has saved a lot of people from actually having to do that has kept them in their workplace. I think it saved a lot of people and I think for those people that are on unemployment. It's going to bring a lot of people back matter of fact we're having a small business event at the White House today. Where unlike the Lakers stories? We're going to hear some stories of great small businesses who this really saved their business and I can tell you you know the number of emails I get from people who send on the stories of a legitimate small business that was about to close their doors that is either keeping their people on her rehiring. People were businesses that had to close their doors because the no fault of their own. The city shutdown business is going to bring back those people so as we reopened these companies will have the liquidity to pay. Their workers occurs to me that not every part of the country is dealing with this equally. There are a lot of states that closed down later than others and they're obviously others that are opening up quite a bit earlier. Are Any of these funds going to be directed to the areas that are most hard hit to try and make sure that the businesses that maybe have been forced to close a couple of months already and could continue to see Along closure would would those businesses be prioritized? What we're absolutely working on that and and we want to make sure that this money is getting to where it should be and let me say. I'm I'm highly encouraged that the average loan size is coming down. Matter of fact the average loan size in the backlog was less than a hundred thousand I'm also encouraged. Were on a call every day where we have over a hundred. Cdfi's that are making loans. We think we're going to increase that to four hundred so particularly in communities that have been hardest hit that we make sure that they get that money and we're going to do what we need to do to make sure that everybody is treated fairly in this program. Mister Secretary what you tell people who say. Look some of these big companies. Maybe should or shouldn't have tried to get this money. But do you blame the banks. The banks that issued these loans to then given the rules that you at spelled out or were the rules themselves not clear enough. The rules were very clear but let me also say the certification was a certification by the borrower. And one of the things we did is we wanted to make it very easy. The banks were really middlemen here and the banks were were not required to do the diligence. I really felt the borrowers who made these certifications. Now there were some banks early on who put things up on their website and prioritize their customers. We immediately told them that was wrong. They took it down so you know I wanted to be very clear. It's the borrowers who who have criminal liability if if they made the certification and it's not true and as I said we're GonNa do a full audit of every loan over two million dollars. This was a program designed for small businesses. It was not a program that was designed for public companies that had liquidity again. The certification was very clear in saying that if people had other sources of liquidity. They could not take this loan. Mister Secretary what do you say about those larger companies that maybe were turning those loans but the true effective it is that they're gonNA continue to furlough employees to the degree that this is an employment for all program shake shack is not necessarily going to now put people back on the on the payrolls whereas had they had access to some of these loans if you felt that they were a properly eligible despite whatever liquidity think they might have they may decide as a business decision not to bring people back whereas a lot of the smaller companies who would have access to this would bring people back knowing that they'd get the loan ultimately forgiven and we keep people in their jobs again? Let me just be clear. The purpose of this program was not social welfare for big business. The purpose of this program was to help small business. That's as small business program and it was meant for small businesses that didn't have liquidity. Now there are a lot.
"treasury secretary" Discussed on The News & Why It Matters
"Okay what off Joe Data? So that was obviously the end of one of his online rallies. I'm not sure if he still knows how the Internet works. I'm not sure if he knows that. That is a record player he. He seemed very surprised to see his wife. I don't know if he knew who she was. He seemed very startled and he was waiting for a standing ovation. I don't know but he does not seem to be okay. Joe Biden is not well out there. I mean he says he's not he's not with it and like it kind of like whether it's right or wrong to say it doesn't matter it's just A. It's a factual observation. That I think everyone Hussein in America is collected. We realizing that he is not fit right now. Tucker Carlson a few weeks ago back when Bernie was kinda still in the race. How like a ten still in the race? How like Bernie Chan? Yeah Burning Bro. On the air just kind of hammer home. The point that Joe Biden is senile. So it's not just Republicans that are saying it was literally just burn guy who was on. Tucker's program saying he is he is not with it on. Tulsi is a bit of a `nigma I don't really know what to make of Tulsi Gabbard. She was like a very socially conservative. Democrat about fifteen years ago. She got very idiosyncratic religious background back in Hawaii. She was really one the last Democrats in like a major office to kind of switch on the marriage issue in particular. I think she was like pro-life awhile ago too so I don't know what to make of her She obviously is very very very concerned About Middle East issues. She loves Bashar. Al-assad in particular I thought that might have led her to a Bernie Endorsements Tom. I don't really know what she's thinking but the I'll say one thing the guy who was overseeing a lot of these drone strikes in Yemen Joe Joe Biden with Barack. Obama strikes. Me As a weird ideological fit for someone who is generally okay with mollycoddling like the Iranian and Russian regime. That tells the Gabbert is i. Don't get it Maybe Ninety I've two things to start with Tulsi I sit on the show. I really believe Tulsis making a play for a VP bit to all CD's not GonNa get it from Bernie Biden said on the air going to pick a woman in in that whole controversy. That came with that. I really think Tulsi is. That's why she hung onto law and she's hoping and she's vying for a bit. She's flipped and flopped throughout. You know from being a soldier. All the way to the day being pro-life at one point then pro-choice marriage so that that's crazy joe though as gone off the etch okay longtime ago and like. I said off the Air Watch Hunter Biden resurfacing. We're going to push hunter because because Joe said the other day. Trump doesn't want to debate me. No you're wrong sir. We cannot wait. You know that is an interesting theory and I would would you josh. That Tulsi just a strategic move for her personally so that she can you know come out getting something out of this but it feels like if there was anyone in that entire You know selection of that ten million different candidates Who I were the Democrat or candidates the presidential candidates if there was anyone to not do something like that it seems like it would be Tolsey. She seemed like she was. She was really in it knowing. She didn't stand a chance because she wanted to do something about the Democratic Establishment about the Democrat Party. And now look how far she's fallen. Yeah I mean my best. Guess is that she's probably just become bored with being congresswoman. She's been there for a number of terms now. She probably is just like literally not not interesting or job by President. The first place so yeah. She's she's probably cynically. Tried to get a cabinet position at worst. Maybe Vice President at best. I think Stacey Abrams is probably the front runner for the vice-presidential tapping right now Clock I agree I agree with that. I think it's going to be Stacey if not Joe Picking up himself at the party's saying hey this is or or is the party finally getting Tulsi under some step in line here. You know you're still in our party say So for those of you. Who Don't like your ears bleeding. You may want to not tune in for this but there were some celebrities who they wanted to do their part for. What's going on with corona virus and the social distancing thing so they decided to get together along with the Gal Gadoe and give you this beautiful rendition of this beautiful timely song. Imagine again warning. If you're not you're not gonNA like this watch. They ran into this video of this Italian Guy. Playing the trumpet in his balcony To all the other people who were locked inside their homes and he was playing imagine and there was something so power fall in pure About this video It goes like this. Imagine there is no hasn't been easy if huge Hell above imagine all homes up people he. Oh.
"treasury secretary" Discussed on The News & Why It Matters
"Well we were just talking about people who were actually giving president trump credit and we were giving them or at least her Alana Mark Credit where credit is due for admitting when President. Trump does something right. Well I think she was just a handful of maybe. She's the only one. I don't know Biden advisor Simone Sanders not so much ready to give president trump credit for anything. In fact she just used this as an opportunity to call the president a racist. Obviously watch a leader has to lead from the Front. And so what? President trump is what he announced. Today was it's a tough job but it has to be done at some of what he said. Today was good but the reality also stood at the podium and called the corona virus covert Nineteen What I would suggest that they Rachel sklar. It's something. Chinese virus originated in China. Why is offensive? It is something that is offensive to many Americans and solve. The reality is instead of name calling instead of pointing fingers instead of talking about law number. That's Larry forget down here so if there is something that is offensive to someone is therefore a racial slur. I don't know that I follow that logic. I was watching this live last night. Actually my very first thought was reminded me of the old controversy about the Washington Redskins name the NFL people logged. They're getting their high horse. They say oh. My God is so offensive on polling on this okay American Indians and the native Americans or if you want to call them in the US they literally pull like ninety. Five percent of them. Couldn't give a union care at all so I imagine if you polled like Chinese Americans they similarly would most Chinese Americans who are here. They discern party came here because they were being that horrific regime. Since it's the same thing for Cuban Americans in Miami the course keeping garments okay. Anyway there's actually a broader point here my com tomorrow is GonNa GonNa GonNa hit on this. I don't want to give away the farm but Joe Biden is uniquely vulnerable on the issue of China okay. Forbes magazine had an article last August where the headline was Joe. Biden is China's. Best chance to normalize twenty twenty. Joe Biden has a decades long history of kowtowing to the Communist Party there. He was very instrumental in gain than most favored nation trade status and kind of getting them into the World Trade Organization in the late nineties. Early two thousands. His son Hunter famously accompanying him in twenty thirteen on eight and extensively diplomatic journey to Beijing. What do you know a few months later? Hundred gets on the seat of a highfaluting private equity firm and Shanghai and now we have ten percent equity stake instead firm. They're literally capitalizing him so by his very vulnerable on this issue. I think it's a great opportunity for trump to reframe this election as a referendum on China because his whole Maga anti-globalization nationalism message plays directly into an anti-china platform and binds uniquely vulnerable. So if trump can make this election about China. He's in very good hands here because the media they are way on front or skis on this Biden. Way Out in front of his skis on this. The the meeting American is with trump on that issue. It's not they're not with by and and the media you look interesting. Thing is trump's popularity through this Okra Navarre's thing has not gone down number one. The giving him firepower China gave him firepower. The started in China is the China virus and is the reason. It's not an Asian American. That made that statement on National News. Because they won't go back there for nothing. They won't defend that regime in it's despicable. What the left is doing jumping on the China train that that's a laughable comment. Okay it's A. It's a fetal attempt to sling mud in politicizing crisis. Like this. Which is so far for the left. I keep seeing too and I have compassion for children right so when someone comes to me and they say well. I have a child who is half Chinese and this hurts her and I'm like but We can't change the facts because it might be uncomfortable for your child to hear. I don't know the child is really hearing it but I mean we can't. We can't change something every time. It hurt someone's feelings and again. I have compassion for kids. But I don't see people ganging up on Chinese Americans in the streets of the United States. I don't see that you're looking hard enough. Apparently not to send me some sources because I keep hearing this on twitter which I know is my first problem for actually paying attention to what's being said on twitter but I keep hearing this like well tell that to all of the Americans who are beating up Chinese people and I'm like talking about and where were you when all of these Americans were beating up people with red hats in the streets. Exactly right yeah trying to push narrative maybe for that mom. It's a great opportunity to do some parenting right daughter down so now listen honey. It's not about you. Don't take this personally. The fact is it did start in China right. That's just the facts. We we have to stop changing the facts in this nation to placate to the one percent that getting the feelings Well and good news because we all need a little good news right. Texas governor Greg. Abbott is now letting restaurants still alcohol with their food. Orders to boost sales amid corona virus social distancing so yesterday he issued an immediate waiver and now restaurants can they can the only the ones with mixed beverage permits they can deliver the alcoholic beverages with food purchases only so fear wine and mixed drinks. What else is there to do when you're sitting on your couch. Iras literally laying on my couch and nine pm last night and I actually tried to get some whiskey delivered. I wanted to come at because I was really. I'm literally not exaggerating here. I was trying to get a rush. Delivered the quickest. They get it was. Adm like this morning. I was Kinda. I was Kinda bummed out but if I had known that they could they could deliberate with my dinner right. I will take advantage of that. You know what I'm going to take advantage of moving forward. Well I mean because you know you look at it. It's a win win. You're helping boost the economy and you're also helping pass the time while you're sitting on your couch doing nothing. Yoko. I know you don't drink. I don't drink but I'll tell you this. God bless this. Is there a reason? This is the number one state in the nation. There's a reason the state works and California. Does it because of these kind of you know inventive ways of thinking? What I don't understand how do you how do you make sure billy? That's eight? Seventeen years old delivering pizza is not delivering spirits. Now Yeah they carting you at the door. Surely some are something that I. I don't know if you know that but I love the heart behind it to say. Look we're gonNA find ways to stimulate the economy we're not going to sit and wallow in the virus. We're going to be proactive in Texas Texas. You know it's funny. You look at you look at things that they do in the middle of something like a pandemic where everyone's panicked in. Everyone's scared and so for some reason everyone says yes. Let's give the government more power and you look at paid sick. Leave and how okay. If there's no sunset in this bill for paid sick leave for small employers to pay for like maybe we shouldn't be agreeing to this and then he stuff like this and I'm like I'm good with no sunset. I'm good we can just keep doing this. After the pandemic why why people say right forever. Yeah why not just have this via thing? There was one tweet. That said I'm paraphrasing. There's governor Abbot elected like for forever. Right stay forever. Be Governor forever with this kind of policy. Now I mean it's it's good to to laugh about something and see somebody thinking outside the box like Abbott's done on many many things. I mean. Great Great Governor Great State Governor. We've had in my lifetime. Alright Tulsi Gabbard is suspending her presidential campaign and endorsing Joe Biden. That's a lot to unpack. Just that one sentence. We will do that after the break but first we want to thank our sponsor net sweet so for all of you entrepreneurs out there. Small Business Owners. I know it's a tough time right now for everyone But something that you really will want to have in your life especially once things start. Getting back to normal is net sweet so We actually use net suite here at blaze media and it helps US accelerate our growth. So what he does and by the way not sweet is by Oracle who? I'm sure you guys all know. They are very well known well-trusted program developer so nets. We actually gives you all of the different things the different tools that you need for your company to run your company to run your small business. You've got accounting. You've got inventory you've got finance. Hr All of these different things that you're trying to look at but if you don't see them under the same umbrella you can't truly know your numbers and if you don't know your numbers you're not going to grow your business. That is where net sweet comes into play. They have everything all under one umbrella. You can look at your true numbers and know that they are true numbers because they all are working together. You can also see it on the cloud it is available on your phone on your computer Wherever you're at if you are.
"treasury secretary" Discussed on Slate Money
"We've managed to get like a bull low replacement treasury secretary and that was actually one of the surprises of the trump administration he was supposed to be one of the that he was supposed to be balance i mean couldn't he just do reject lou in be complete invisible that would be a vast improvement absolutely he then be replacement level it's okay enough of treasury secretary slate money is sponsored this week by bloom which is how you fix your 401 k did you know the overall in k of broken no did you know that you really should be looking at go 401 k yes did you ever really believe you're going to get around to it no wickets do you know exactly what to do once you open up that account and try and look at all of the options and try and work out way or money as and where it should be and what the differences between the two and how you get from one to the other it's uh and so bloom will come along and do all of that for you you probably have some kind of new year's resolution to get your whole retirement situation on track and to make sure that you don't have lots excessive fees and your laura one k and all of that kind of stuff so this is how you meet that resolution you go to gloom four one k dot com slash money a new connect giovane k all of willful on klay's it on the internet somehow so you can connect you'll 401 k tube lewd bloom will then go in look way or half allocation is look what it should vehicle in your risk profile.
"treasury secretary" Discussed on POLITICO's Nerdcast
"But i don't have enough time to enjoy the city we'll be right back with more of my conversation with treasury secretary mnuchin but first a word from our sponsors a message from morgan stanley when it comes to investing the methods people used to make choices often aren't rational group thinking and confirmation bias can subconsciously impact your approach for example some research shows that people prefer stocks that have easy to pronounce ticker symbols acknowledging in overcoming that bias helps you make him more informed investment decision thoughtful decisionmaking and following the data can help you maintain intellectual independence here the full podcast and morgan stanley dot com slash h e r d morgan stanley and co llc member sipc route let's get into the tax plan for a minute without having a people's eyes glaze over biggest knock on it from democrats from uh some people in the financial community elsewhere is that they're tax cuts that are tilted towards the wealthy particularly if you're getting rid of the alternative minimum tax and the estate tax so question is how do you fix that problem at why not just you know forget about getting rid of the estate tax and the alternative minimum tax focus on getting the corporate rate lower and then rates for average americans lower uh what is the best way to go about convincing people that this is not a tax cut for the wealthy inc's at the expense of middle income well let me just comment on the chew priorities of this or one creating a meal income tax cut into making a competitive business tax system we have one of the highest.
"treasury secretary" Discussed on POLITICO's Nerdcast
"With the fdic in wired them one hundred and sixty million dollar nonrefundable deposit and we closed on that in march of two thousand nine i spent the first six months commuting back and forth i'd go out every sunday night and fly back every thursday night and about after six months became clear we were doing more acquisitions la was a great place to live and ended up moving out there gotcha uh we're gonna get back into policy stuff in a second but i just want to ask you how you feel life is different in dc verses la uh these are obviously industry towns both of them allies a uh entertainment industry town dc's a political industry town doctors about la versus dc in your experience wyde say it is is is much the job as it is the location um so i mean there's no question being part of the administration is by far the most interesting thing i've ever done in my professional career i like i like to describe this as i've had four careers the first was goldman sachs the second was my own investment business the third was one west bank building a regional bank and now the fourth is treasury secretary and this is by far the most interesting the most meaningful i wake up every day and think about what i can do to help the us economy and help keep the nation safe through national security issues so although i have a little bit of time to enjoy washington dc i feel it's a very liveable city i live in the city there's incredible historical resources here um.
"treasury secretary" Discussed on POLITICO's Nerdcast
"So i think to the extent we get the tax deal done the stock market will go up higher but there's no question in my mind if we don't get it done you're going to see a reversal of a significant amount to these gains to basically saying that wall street is priced in that you guys can get this done and stock prices are dependent in part on the successful completion of corporate tax reform yeah i think i think it's priced in anticipation so i don't think it's priced in a 100 percent certainty so i think the market will go up uh but it's definitely priced in an expectation of getting a ton okay let's pull back the lens a little bit not everybody wants to dive too deep into the weeds on corporate tax reform though of course i do and i've got some other questions i wanna ask you about that but i think people would be interested in what the treasury secretary does every day like when you get up in the morning uh were the first couple of things that you do and uh what are you worried about in the global economy like what keeps steven mnuchin up at night uh and what are you concerned about risks to the us economy in the global all eyes sl sleep pretty well at night because uh mattis keeps me safe so uh i'm not i'm not i'm not a bad sleeper i will tell you also asked australia by saying what i don't do in the morning i used to work out every morning kind of on a regular basis somehow or another i get up at five forty five and i don't seem to have time to have my one hour workout so i start the day uh looking at what came out overnight in terms of the news uh also looking at uh hit abundance of emails that have come in overnight.
"treasury secretary" Discussed on WWL
"Says scoot i'm telling you of this is about the squirrels i'm telling you they're going to plead insanity because they're nuts and here's a tax been out of town can you please catch me up on the squirrel situation you know i've got a number of text like that people tuning in and they've been gone for the last couple of days i will bring you uptodate after the news at two at three o'clock i've often talked about entitlements in how wrong it is to have an entitlement mentality and have also tried to share with you examples of those with money who think that they are entitled to things entitlement mentality is not something that is just four those with less income for those with less steve mnuchin treasury secretary requested the use of a government plane for his honeymoon in scotland france and italy earlier this summer he just got meritous putt blonde effect of a model from from scotland the cost of the the plane twenty five thousand dollars per hour they went to scotland france italy and of course they had to come back so do the math on that abc was the first news outlet to report this mnuchin request took place last month and is being investigated now by the treasury department's office of inspector general so what this guy gets to be treasury second what you think you in tight first of all this guy's a billionaire and he thinks he's entitled because he's treasury secretary of get the plane ready it will take.
"treasury secretary" Discussed on Jalen and Jacoby
"Jalen rose you have led the charge on this the harriet tubman 20dollarbill everyone remembers when it was announced and everyone forgot where we accept people that listen to this program because you have been the number one person constantly reminding america as to the whereabouts and the question mark surrounding the hurt tubman 20dollarbill will someone who clearly this is this program asked the treasury secretary steven mnuchin about the status of their retirement 20dollarbill he explained the only change dollar bills when there are concerns about counterfeiting it doesn't seem that concerned about that right now because he said quote right now we have a lot more important issues to focus on june rose how disappointed are you about the current status of the heritage montoya dollar bill hare wing go gan the reason why i'm so disappointed what a multiple reasons fracture i figure once our commander in tweets got in office if 45 in his constituents look down at the ledger and saw harriet ms name on their little reproach reprioritisation absolutely especially if he didn't know if frederick douglass was alive or dead i truly new that this legislation may be in deep trouble delay that's what i kept carrying the torch.
"treasury secretary" Discussed on WSJ MoneyBeat
"Next week the treasury secretary steven mnuchin we'll be testifying what is it is it threetimes he's gonna be testify yes he has a couple of a couple of appearances sort of on subcommittees is a big big appearance they they will be watching on an eu guy she watch if you're interested in in the intricacies he'll be at the budget committee on the link at the senate budget committee on tuesday morning so he um you know the treasury department has sort of their own budget and the secretary always goes up in talks about here the things we need for our agency and our operations but on tuesday he'll be talking just generally about the trump administration's overall budget proposal and that generate all a lot of attention in recent weeks because of this conversation about economic growth and you know in in the budget the the administration has signalled look we we think we can get economic growth back up to three percent and there's been a lot of talk in washington and i think outside as well about whether that's realistic and whether they have the policies in this proposal to do that so i'm sure that the secretary will get a lot of questions about that and also of course as we were talking about the debt ceiling i think that lawmakers will will try to get some more details from him on on how much longer the government can actually go have they're they're right now using this thing called extraordinary measures so technically we've hit the limit we hit it in the middle of march but treasury uses these these extraordinary measures in a these to conserve cash basically so that they can keep paying the bills and eventually those will run out too so the question is when when is that going to happen and um.
"treasury secretary" Discussed on KOIL
"With you um i think the difference between uh that the concerted even onto common but now the factor on may is the they do do the tax cut through the same will growthorientated under may notably factor the the previous the treasury secretary um it is much more interventionist and the big adviser nick timothy and hill that way inclined and i think this is a very true statement written in the wall street journal and it's a significant difference and about i don't think that they've had a big effect in the election that they've been great police it wasn't a big deal in the election i think it was other things that i have enumerated and i would like to go back to what you said about twenty two percent how people uh you know the active all the majority enthusiast think about brexit i think the is dangerous in this respect in the own remained side oxide to stay there on the losing side and so i think the police not merely as optimistic as one would would indicate i think the economic side is very true and i think it applies dramatic america i think tax cuts and deregulation are key to economic growth in a freeenterprise economy right now gardener what dementia tax which seemed to play a role in all of this is a tax on elderly people what what is all about now well after a question.