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. >>> gary cohn out. president trump's top economic adviser resigning from the white house as a trade war brews the fallout from washington to wall street straight ahead. >>> president trump threatening a new round of tariffs this time aimed at the eu. the full details ahead. >>> sounding off, the biggest leaders in corporate america weighing in on the president's trade plan on cnbc we have full reaction coming your way it's wednesday, march 7, 2018. "worldwide exchange" begins now. ♪ >>> good morning a very warm welcome to "worldwide exchange" on cnbc i'm wilfred frost. >> i'm seema mody in for sara today. it will be an interesting day for markets. >> let's look at them, moving lower after that bombshell announcement that gary cohn is leaving the white house. we are down 349 points on the dow. let's get straight to eamon javers live in washington with the latest good morning >> good morning. another week, another major white house departure. this time gary cohn, the president's top economic adviser. it
. >>> gary cohn out. president trump's top economic adviser resigning from the white house as a trade war brews the fallout from washington to wall street straight ahead. >>> president trump threatening a new round of tariffs this time aimed at the eu. the full details ahead. >>> sounding off, the biggest leaders in corporate america weighing in on the president's trade plan on cnbc we have full reaction coming your way it's wednesday, march 7, 2018. "worldwide...
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gary's priorities are. i'm surprised he stayed around as long as he did. his comments post charlottesville, i think he had an obligation to resign. charles: another goldman person who wasn't at the press conference was steven mnuchin, sarah. but i want to go back to that tweet blake talked about. the new fake news narrative is there is chaos in the white house. wrong. people will always come and go and i want strong dialogue before making a decision. tell graphing something was brewing big time, what do you make of the idea, it's the wilbur rosss in the world and the peter navarre owes and the steve bannons who won today. >> i talked to folks who feel like they can take a victory lap that globalist gary is out of the white house. the continue jefnlt aides referred to as the globalist has been diminished as president trump has steam rolled over their opposition whether it's the paris climate accord. not you impossible of tar rivers. and time and again we have seen their influence hasn't necessarily extended
gary's priorities are. i'm surprised he stayed around as long as he did. his comments post charlottesville, i think he had an obligation to resign. charles: another goldman person who wasn't at the press conference was steven mnuchin, sarah. but i want to go back to that tweet blake talked about. the new fake news narrative is there is chaos in the white house. wrong. people will always come and go and i want strong dialogue before making a decision. tell graphing something was brewing big...
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gary! gary! gary! >> i see an america too young to quit, too courageous to turn back and an america with dreams that will not die. this is one hart you will not leave in san francisco. >> he goes to that convention with other 1,000 delegates from that point forward once mondale gets crushed by reagan in the election. hart is the guy for the future. >> encouraged by his showing in the '84 primary. he decided not to seek a third term in the senate and spent his last term preparing for a presidential bid. >> he had a sense of destiny. >> much of america seemed to agree. in the early polls of 1984 he led democratic hopefuls and was 14 points ahead of his republican opponent. >> hart is about as close to a lock for the democratic nomination as you're going to get, and a pretty good bet for the presidency. >> i plan to be a candidate for the presidency in 1988 and i do so for one single reason, and that is because i love my country. >> gary hart starts outdoors in the colorado mountains to announce, ok
gary! gary! gary! >> i see an america too young to quit, too courageous to turn back and an america with dreams that will not die. this is one hart you will not leave in san francisco. >> he goes to that convention with other 1,000 delegates from that point forward once mondale gets crushed by reagan in the election. hart is the guy for the future. >> encouraged by his showing in the '84 primary. he decided not to seek a third term in the senate and spent his last term...
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the president was actually frustrated with gary this week because gary was trying to once he made his decision to impose tariffs, gary was trying to get him to soften them and exclude countries. some things they decided. it was something that frustrated the president. it is important to point out that cohn and the president were never ideologically in line. they agreed on taxes and tax reform. they got along well in getting the tax reform passed and that lifted gary cohn's standing in the west wing after jim said frustration over the comments the president made regarding what happened in charlott charlottesville. the president was frustrated and would roll his eyes when he saw gary cohn on television or when they were on air force one doing events for tax reform. that helped mend the relationship for some time. that's why it was talk of the town and cohn could be considered for the next chief of staff. they were never really aligned in the beliefs. it is important to point that out. >> you also are getting important information about john kelly, the white house chief of staff, and app
the president was actually frustrated with gary this week because gary was trying to once he made his decision to impose tariffs, gary was trying to get him to soften them and exclude countries. some things they decided. it was something that frustrated the president. it is important to point out that cohn and the president were never ideologically in line. they agreed on taxes and tax reform. they got along well in getting the tax reform passed and that lifted gary cohn's standing in the west...
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gary! gary! >> i see an america too young to quit, too courageous to turn back and an america with dreams that will not die. this is one hart you will not leave in san francisco. >> he goes to that convention with over a thousand delegates. that point forward once mondale gets crushed by reagan in the election, it's there for gary hart. he's still standing and he's the future. >> encouraged by his showing in the '84 primary. he decided not to seek a third term in the senate and spent his last term preparing for a presidential bid. >> i think he had an almost divine sense that he was the man for the moment. he had a sense of destiny. >> much of america seemed to agree. in the early polls of 1984 he led al gore and joe biden and was 13 points ahead of his republican opponent, vice president george h.w. bush. >> hart is about as close to a lock for the democratic nomination as you're going to get, and a pretty good bet for the presidency. >> i intend to be a candidate for the presidency of the
gary! gary! >> i see an america too young to quit, too courageous to turn back and an america with dreams that will not die. this is one hart you will not leave in san francisco. >> he goes to that convention with over a thousand delegates. that point forward once mondale gets crushed by reagan in the election, it's there for gary hart. he's still standing and he's the future. >> encouraged by his showing in the '84 primary. he decided not to seek a third term in the senate...
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gary cohn's deputy left back in december. so it's not your typical white house where you have two or three people who are lined up, ready to go, ready to take this spot. it's going to be a real challenge them to fill the void. >> in turbulent times you need sober, reasonable voices. these are the types of voices that are leaving. we'll have much more on the cohn breaking news and more tonight, including a new cooperating witness for robert mueller. this could be big. because of the secret meetings he attended between trump associates and the united arab emirates, the same uae that according to the "washington post" talked about ways jared kushner could be compromised. each year sarah climbs 58,007 steps. that's the height of mount everest. because each day she chooses to take the stairs. at work, at home... even on the escalator. that can be hard on her lower body, so now she does it with dr. scholl's orthotics. clinically proven to relieve and prevent foot, knee or lower back pain, by reducing the shock and stress that trave
gary cohn's deputy left back in december. so it's not your typical white house where you have two or three people who are lined up, ready to go, ready to take this spot. it's going to be a real challenge them to fill the void. >> in turbulent times you need sober, reasonable voices. these are the types of voices that are leaving. we'll have much more on the cohn breaking news and more tonight, including a new cooperating witness for robert mueller. this could be big. because of the secret...
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gary cohn out as national economic director. back to you. >> all right, hampton pierson out of washington for us thank you. for more on this, let's bring in eamon javers and the resignation comes as we seem to be on precipice of a brewing trade war. >> yeah, that's right. there were a couple of things that hampton says today that this was likely to happen. one was that gary cohn who had been a relatively religious attendee of the news conferences did not show up. there's an empty chair in front of where i was sitting for someone on the white house staff, we're not clear if it was gary or not. he's usually in the room for those things, he was not i was told repeatedly today by white house officials that if gary resigned, it's not going to be because of tariffs, it's going to be because of an accumulation of things that is that gary, they suggested to me, is too mature to simply not get his way on tariffs and resign on principle on that issue alone but it would be because of a number of things, white house officials were not pushi
gary cohn out as national economic director. back to you. >> all right, hampton pierson out of washington for us thank you. for more on this, let's bring in eamon javers and the resignation comes as we seem to be on precipice of a brewing trade war. >> yeah, that's right. there were a couple of things that hampton says today that this was likely to happen. one was that gary cohn who had been a relatively religious attendee of the news conferences did not show up. there's an empty...
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when gary was still on the team. gone and threats of a trade war looming, the president needs all the good economic advice he can get. where is it coming from? and in the wake of a notes tariffs, reports are that the white house may be planning something much bigger directed specifically at china. welcome to "bloomberg daybreak." i am david westin here in new york state. my colleague alix steel is still done in houston. is going to be the question -- that is going to be the question. a whiteyou think about house and u.s. presidency without gary cohn and more ramped up trade war? i will be talking to joe kaiser, ceo, talking about the biggest manufacturing company in how it affects his thinking. the market reaction is very interesting this morning. markets feel relatively calm. euro-dollar is now unchanged on the day. we are now flat. in europe you're seeing very strong buying, but everywhere, spain, it is portugal or not something you would associate necessarily was a safe haven bid, and oil up by 8/10 of 1%. that is
when gary was still on the team. gone and threats of a trade war looming, the president needs all the good economic advice he can get. where is it coming from? and in the wake of a notes tariffs, reports are that the white house may be planning something much bigger directed specifically at china. welcome to "bloomberg daybreak." i am david westin here in new york state. my colleague alix steel is still done in houston. is going to be the question -- that is going to be the question....
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let's talk about what it means to have someone like gary cohn walk out the door. >> gary cohn isn't just a wall street guy. this is a guy who before he came to the white house had one job his entire adult life. he came to new york city and he was acquired by a company that acquired goldman, he left goldman where he was the president and the coo to join this administration, so it's a big deal to see gary walk away. now many people speculated that once gary got tax reform done, he was most likely going to leave, because he came there for a mission, he got that done, he had never had political aspirations before, but, you can can yourself why now, why today? you know he was very against president trump's comments after charlottesville. as a jewish american he was high high high highly off v of funded. if gary is now getting road blocked, if the president won't even listen to him, and if someone named peter navarro who couldn't get a job at goldman if his life depended on it, if he has the president's ear on trade issues that affect our country, corporate america, every citizen, if peter nav
let's talk about what it means to have someone like gary cohn walk out the door. >> gary cohn isn't just a wall street guy. this is a guy who before he came to the white house had one job his entire adult life. he came to new york city and he was acquired by a company that acquired goldman, he left goldman where he was the president and the coo to join this administration, so it's a big deal to see gary walk away. now many people speculated that once gary got tax reform done, he was most...
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>> gary is helping me through . turn up your swagger game with one a day men's. ♪ get ready for the wild life a complete multivitamin with key nutrients, plus b vitamins for heart health. your one a day is showing. prestige creams not living up to the hype? olay regenerist shatters the competition. big hype. big price. big deal. olay regenerist hydrates skin better than creams costing over $100, $200, and even $400. for skin that looks younger than it should. fact check this ad in good housekeeping. olay regenerist. ageless. now try olay hydrating eye. hydrates better than the #1 prestige eye cream. fthere's flonase sensimist.f up around pets. it relieves all your worst symptoms including nasal congestion, which most pills don't. and all from a gentle mist you can barely feel. flonase sensimist. i we worked with pg&eof to save energy because wenie. wanted to help the school. they would put these signs on the door to let the teacher know you didn't cut off the light. the teachers, they would call us the energy patr
>> gary is helping me through . turn up your swagger game with one a day men's. ♪ get ready for the wild life a complete multivitamin with key nutrients, plus b vitamins for heart health. your one a day is showing. prestige creams not living up to the hype? olay regenerist shatters the competition. big hype. big price. big deal. olay regenerist hydrates skin better than creams costing over $100, $200, and even $400. for skin that looks younger than it should. fact check this ad in good...
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one of the names they had for gary cohn was globalist gary. he was seen as globalist. that has always flown in the face of the president's economic policy, to go after even u.s. allies on trade. even when it suits his political needs. keep in mind we're a week away from a very important election in pennsylvania. trade is a big issue in that election. i would have to wageary guess here that there are people inside the white house internally who believe that the president's tariff talk is smart politics in that part of pennsylvania. >> let me play that clip. the president speaking about the steel and aluminum tariffs. he's doubling down. they're going forward. he clearly doesn't care what gary cohn and other political advisers were telling him. he doesn't care when the republican leadership in the house and senate were telling him. >> i'm their protect. one of the reasons i was elected is i'm protecting the workers and the country. so we're doing tariffs on steel. we cannot lose our steel industry. it is a fraction of what it once was. and we can't lose our aluminum indu
one of the names they had for gary cohn was globalist gary. he was seen as globalist. that has always flown in the face of the president's economic policy, to go after even u.s. allies on trade. even when it suits his political needs. keep in mind we're a week away from a very important election in pennsylvania. trade is a big issue in that election. i would have to wageary guess here that there are people inside the white house internally who believe that the president's tariff talk is smart...
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i don't know jimmy, joe or mary but i know gary. gary cohn is a process guy. in january after tax reform got done, he went to the president and he went to general kelly and said, i'm only working at 20% capacity. i need something to do here. i can do more. he said to the president, i'm ready for a cabinet level position. i want to do something bigger. could be something in the state department or the cia. the president said why don't you focus on infrastructure ab-gary was the one who drove infrastructure and has been waiting to work on that and hasn't been able to. things got sigh lined with daca, things got sidelined after the shooting. ideally sidelines because the president doesn't pay attention. he said i'm willing to leave and come back if a bigger role comes up down account line. remember what happened last wednesday. they have tariff tuesday every week talking about it for months. you know the president's views for over a year. but things getting completely out of hand with wilbur ross and peter that var row who gary cohn has zero respect for and peter
i don't know jimmy, joe or mary but i know gary. gary cohn is a process guy. in january after tax reform got done, he went to the president and he went to general kelly and said, i'm only working at 20% capacity. i need something to do here. i can do more. he said to the president, i'm ready for a cabinet level position. i want to do something bigger. could be something in the state department or the cia. the president said why don't you focus on infrastructure ab-gary was the one who drove...
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gary cohn's deputy left back in december. not your typical white house where you have two or three people line up ready to take this spot. >> in turbulent times you need sober reasonable voices and these are the voices that are leaving. much more on the cohn breaking news and other breaking news including this, a new cooperating witness for mueller. this could be big because of the secret meetings he attended between the associates and the uae talking about ways jared kushner could be compromised. ♪ ♪ wake up early, o. ♪ slap on some cologne ♪ i'm 85 and i wanna go home ♪ ♪ just got a job ♪ as a lifeguard in savannah ♪ ♪ i'm 85 and i wanna go home ♪ ♪ dropping sick beats, they call me dj nana ♪ ♪ 85 and i wanna go don't get mad. get e*trade, kiddo. allergies with sinus you won't find relief here. go to the pharmacy counter for powerful claritin-d... while the leading allergy spray only relieves six symptoms, claritin-d relieves eight, including sinus congestion and pressure. claritin-d relieves more.
gary cohn's deputy left back in december. not your typical white house where you have two or three people line up ready to take this spot. >> in turbulent times you need sober reasonable voices and these are the voices that are leaving. much more on the cohn breaking news and other breaking news including this, a new cooperating witness for mueller. this could be big because of the secret meetings he attended between the associates and the uae talking about ways jared kushner could be...
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first of all, we are going to miss gary and gary is a great colleague. i loved discussions with him because we had different points of view and the president loves that, but it is a deep venture. -- this guyy at omb is leading the regulation revolution in this country that we haven't seen since the days of reagan. you go outside the perimeter, you steven mnuchin, who has been a terrific job on the tax bill. and wilbur ross is doing all sorts of great things, so there is differing points of view coming into the room and the president loves that. but at the end of the day, i like and what goes on here to a football team elected new england patriots. every year the patriots win the division but with different players. what does it change is the coach and quarterback, and that is what we have with donald trump. best first year in the economy of any modern president and we are to have a great second year. if you look at all leading economic indicators, everything is bullish and investors who look at this market will be bullish on this market. david: i want to
first of all, we are going to miss gary and gary is a great colleague. i loved discussions with him because we had different points of view and the president loves that, but it is a deep venture. -- this guyy at omb is leading the regulation revolution in this country that we haven't seen since the days of reagan. you go outside the perimeter, you steven mnuchin, who has been a terrific job on the tax bill. and wilbur ross is doing all sorts of great things, so there is differing points of view...
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the fact is donald trump ran against gary cohn or people like gary cohn in the election. he ran that ad against goldman sachs. there were anti-semitic tones in the ad and other things that were controversial. he made crystal clear he was running against this wall street free market, globalist mentality. >> yeah, absolutely. you have to step back and take a look at what trump has done outside of the palace intrigue. this is important reporting, but you have to step back and take a look at this through the eyes of a voter. so he has -- for his base, if you look at evangelical, he has satisfied what they wanted from him with gorsuch, and if you look at rotary republicans, wall street republicans, he has satisfied them with tax reform. on the tariffs, it's satisfying those blue collar voters in the rust belt on trade. when economists say this is terrible, this is bad for the economy, they say, look, economists, you told us nafta was going to be great for us. see how that worked out? so you have to look at how the voters, the people that put him into office and the promises th
the fact is donald trump ran against gary cohn or people like gary cohn in the election. he ran that ad against goldman sachs. there were anti-semitic tones in the ad and other things that were controversial. he made crystal clear he was running against this wall street free market, globalist mentality. >> yeah, absolutely. you have to step back and take a look at what trump has done outside of the palace intrigue. this is important reporting, but you have to step back and take a look at...
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gary: thank you. thank you. on ridiculously long. do we still have time for a couple of questions? >> sure. make sure you come up to the microphone so the people at home can hear you. >> gary, i don't have a question, but i spent most of my childhood in brunswick, missouri. my dad was the local general practitioner. he believed in the hippocratic oath. he cared for everyone, regardless of whether they could pay or not. intragically lost his life an automobile crash on highway 24 making a house call. first day of classes my sophomore year at mizzou. when my dad's funeral occurred on september 15 in brains were, missouri, at the united methodists church, the blacks of runswick did not enter the methodist church. they stood outside the church under a tree. when my mother and i walked out, they came over and approached us barbara, lucinda and what are we going to do now without doc rice? no one will take care of us. my dad did not care whether you methodist, white, didn't make any difference, catholic, he
gary: thank you. thank you. on ridiculously long. do we still have time for a couple of questions? >> sure. make sure you come up to the microphone so the people at home can hear you. >> gary, i don't have a question, but i spent most of my childhood in brunswick, missouri. my dad was the local general practitioner. he believed in the hippocratic oath. he cared for everyone, regardless of whether they could pay or not. intragically lost his life an automobile crash on highway 24...
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has gary rolled out a plan? no. >> it's a punch line. >> no, we're dealing with the president of unforced errors that gets distracted and changed the narratives and says let's look at daca and keeps changing the narrative when rusher gets closer and closer and of course, things, we change the narrative because we're looking at the gun control issue but last week, sort of wilber ross on policy. wi wilber ross, he's a guy who has been falling asleep in meetings for months. peter couldn't get a job in the mail room. he's not a ly accepted economi economist. let's go for a trade war. how about china. the issue isn't policy but process. so gary is not surprised president trump has a nationalist agenda. he was elected on one. gary said america first doesn't have to be america alone. the president led wednesday and thursday with this 10%, 25% tariff plan without coordinating with the state department, defense department and most importantly, white house legal counsel. the president said this is an issue of national sec
has gary rolled out a plan? no. >> it's a punch line. >> no, we're dealing with the president of unforced errors that gets distracted and changed the narratives and says let's look at daca and keeps changing the narrative when rusher gets closer and closer and of course, things, we change the narrative because we're looking at the gun control issue but last week, sort of wilber ross on policy. wi wilber ross, he's a guy who has been falling asleep in meetings for months. peter...
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but for gary, it was awful. it was a few years after the murder, gary was paying his mom's phone bill. he noticed several calls back and forth to long beach. he dialed the number. and on the other end was yanos. would it be fair to say, it was a bit of a surprise? kind of a shock? >>eah. >> reporter: when you found out she was seeing him again. >> yes. it was very difficult. >> reporter: how could she? go back to the lover who gary was sure stabbed his father, her husband, and left him to die in the driveway? >> when i first found out, all ties were cut. i wrote her a letter. dropped it in her mail slot. as far as i'm concerned, our relationship is over. >> reporter: mary ann accused yanos of murder the day it happened. confronted him in jail. now here she was back with him. they didn't actually move in together. they were certainly a couple, passion apparently undimmed. >> i just believe that in her own mind, that it was okay to go back with him because there was really no proof that he did it. >> reporter: how
but for gary, it was awful. it was a few years after the murder, gary was paying his mom's phone bill. he noticed several calls back and forth to long beach. he dialed the number. and on the other end was yanos. would it be fair to say, it was a bit of a surprise? kind of a shock? >>eah. >> reporter: when you found out she was seeing him again. >> yes. it was very difficult. >> reporter: how could she? go back to the lover who gary was sure stabbed his father, her...
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gary cohn just for those that don't remember and we were critical of gary cohn and said he needed to speak out after charlottesville. he did speak out after charlottesville and anybody that knows how the white house works knows that that cost him most likely the fed chairmanship. and so he stated that he fought like good people staying in there and fight like secretary mattis and others, but yeah, just enough is enough. >> we're pretty close to people around this circle and i think his departure is a real sign that even gary cohn, who is trying to stick it out, trying to be there as offensive duty, to try and help out felt he could not do anything anymore to reign in this president. >> obviously a lot of republicans from capitol hill that have been very concerned about donald trump, concerned about the fact that he's a lifetime democrat, that he's a lifetime liberal from queens who actually discovered birtherism, discovered racism as a way to get ahead in the republican primary, they're still concerned about his economic policies and gary cohn always seemed to be a person that calmed
gary cohn just for those that don't remember and we were critical of gary cohn and said he needed to speak out after charlottesville. he did speak out after charlottesville and anybody that knows how the white house works knows that that cost him most likely the fed chairmanship. and so he stated that he fought like good people staying in there and fight like secretary mattis and others, but yeah, just enough is enough. >> we're pretty close to people around this circle and i think his...
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that is our number one objective. >> having someone like gary cohn was market friendly. it was something the market was on the same page with. oprah: and -- michael: and populist parties gain as italy goes to the polls. central banks send signals on the future of stimulus. >> we needed to remove the explicit reference to the likelihood of an increase in the pace of purchases. michael: energy leaders come together and discuss how shale is changing the game. >> i think the u.s. is a producer that is part of the new world market. the message is that this is a supply source that will be around a long time. michael: and did an action-packed week, some of the global economy's most prominent actors comment on the drama. >> it makes us very nervous. >> if it continues and gets worse, yes, it will hurt growth. >> on a tactical basis i can see the merits of argument where we continue our gradual increase of rates. michael: that's all straight ahead on "bloomberg best. " ♪ michael: hello and welcome, i michael mckee. this is "bloomberg best," your weekly review of the most import
that is our number one objective. >> having someone like gary cohn was market friendly. it was something the market was on the same page with. oprah: and -- michael: and populist parties gain as italy goes to the polls. central banks send signals on the future of stimulus. >> we needed to remove the explicit reference to the likelihood of an increase in the pace of purchases. michael: energy leaders come together and discuss how shale is changing the game. >> i think the u.s....
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scott pruitt probably not sad gary cohn left, scott pruitt disagreed with gary on climate change and led the president to pull out of the paris accord. mr. pruitt is in hot water today. the associated press is reporting one of his top aides has been given permission to make extra money working for outside private clients whose identities are being kept secret. pruitt says he followed standard procedure, having served in that position. please walk me through. i've never worked in any administration. when i read this, to me that sounds crazy. what do you think about it? >> absolutely. i mean, i don't recall ever letting anybody work for an outside -- any kind of outside organization when they worked for the administration, whether it was in new jersey or in washington. it's just not done. the potential for conflict is far too great. and i think you're talking about the security detail person who also was awarded a contract or associated with a company that was awarded a contract to sweep his office. i don't know how often they do that. i don't ever recall my office being swept when i w
scott pruitt probably not sad gary cohn left, scott pruitt disagreed with gary on climate change and led the president to pull out of the paris accord. mr. pruitt is in hot water today. the associated press is reporting one of his top aides has been given permission to make extra money working for outside private clients whose identities are being kept secret. pruitt says he followed standard procedure, having served in that position. please walk me through. i've never worked in any...
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we are going to miss gary. gary is a great colleague. i myself, i loved to have him on discussions because we do have differing point of use. it is a deep bench. there is a superb economist, mick mulvaney, this guide leading deregulation revolution in this country. we have not seen this since the days of reagan. outside you have stephen mnuchin in treasury who did a heck of a job on the treasury. wilbur ross is doing and so -- all sorts of great things. so there are a lot of different points of view. the president loves that. here is the point. at the end of the day i like what goes on here like a football team. every year the patriots win the division but with different players. what doesn't change is the coach and quarterback, and that is who we have in donald trump. he had the best first year on the economy of any modern president, and we are going to have a great second year. if you look at the economic indicators right now, everything is oldish. investors look at this market, they would be bullish on this market. david: before we co
we are going to miss gary. gary is a great colleague. i myself, i loved to have him on discussions because we do have differing point of use. it is a deep bench. there is a superb economist, mick mulvaney, this guide leading deregulation revolution in this country. we have not seen this since the days of reagan. outside you have stephen mnuchin in treasury who did a heck of a job on the treasury. wilbur ross is doing and so -- all sorts of great things. so there are a lot of different points of...
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he didn't name gary cohn, but he had gary cohn in the room fighting it out on tarrifs in the last couple of weeks with will the commerce secretary. ross and others carried the day. i am reminded of something his first chief of said. everybody gets excited this president is doing things differently. who cares. he is entitled to do it how he wants. don't look at the process; look at the results. that's the point. this president is getting a lot done. getting to those results it's pretty messy. >> thank you, sir. obviously, trade was one of the big reasons for the cohn resignation. republicans and congress have been pushing back hard. chief congressional correspondent mike emanuel has that story. >> congress doesn't have power to stop president trump's new tarrifs proposal so the focus is on asking him to fine-tune it. >> make it more targeted. >> speaker ryan's comments about president trump tarrifs on aluminum and steel and a possibly trade war. >> we want abusers held to account especially china and we want to make sure we don't correct any unintended consequences. >> republicans are wor
he didn't name gary cohn, but he had gary cohn in the room fighting it out on tarrifs in the last couple of weeks with will the commerce secretary. ross and others carried the day. i am reminded of something his first chief of said. everybody gets excited this president is doing things differently. who cares. he is entitled to do it how he wants. don't look at the process; look at the results. that's the point. this president is getting a lot done. getting to those results it's pretty messy....
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gary can play me, i can play gary a lot of possibilities. >> interchange. >> anti-baldism is rampant in the stock market. >> let's go. larry, you had a question for the commerce secretary >> i do. i do the question is this, mr. secretary. what's the sequence of things now? we've announced the possibility of imposing tariffs, but what happens now? >> well, let me first reflect on the job report that just came out. remember the prior administration, many accountants were saying you can't have rapid growth you can't have much more increase in employment it's happening these reports, five in a row, are very, very strong reports. i think you should judge the president and you should judge his decisions by what actually happens, not by speculation as to what might happen or some fantasy thing. this president is determined to make a strong economy continue, make job growth continue and to do it in a very orderly and organized way. that's what you're going to see as this rolgs out. >> keep going. >> so, wilbur, i just want to go back quickly to, you know, do you have a person in mind that yo
gary can play me, i can play gary a lot of possibilities. >> interchange. >> anti-baldism is rampant in the stock market. >> let's go. larry, you had a question for the commerce secretary >> i do. i do the question is this, mr. secretary. what's the sequence of things now? we've announced the possibility of imposing tariffs, but what happens now? >> well, let me first reflect on the job report that just came out. remember the prior administration, many accountants...
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chief economist gary cohn leaving the west wing. crucial voice when pushing back against the president. one source telling cnn trade war has left gary cohn furious. strongly opposed, almost using way too light of a word, passionately opposed to the president's steel and aluminum tariffs. in fact cohen was planning a meeting with the goal of talking trump off what they see is the legend tariffs. source close to the president telling me cohn was only good guy left. this will cause the most trauma. that's how significant the cohn departure is to some around this white house. and of course this is talking about the white house itself. there is trauma tonight even beyond the walls of trump's troubled white house. wall street not reacting well. plummeting 300 points on the news. getting into the realm here of what we saw with the actual tariffs themselves. keep in mind, this is not the first time gary cohn has co contemplated. when the president said both sides were to blame for the deadly white supremacist in charlottsville. >> i think t
chief economist gary cohn leaving the west wing. crucial voice when pushing back against the president. one source telling cnn trade war has left gary cohn furious. strongly opposed, almost using way too light of a word, passionately opposed to the president's steel and aluminum tariffs. in fact cohen was planning a meeting with the goal of talking trump off what they see is the legend tariffs. source close to the president telling me cohn was only good guy left. this will cause the most...
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you talked about gary cohn leaving. we have the general jackass. we have the mystery man from seychelles. we have trump's personal lawyer complaining he hasn't been reimbursed for his payment to stormy daniels. we have kellyanne conway who apparently violated the hatch act, which in any other administration would be the scandal of the month. so all of this would be funny if it wasn't so damn depressing, scary, and dangerous, not just to the economic welfare of the country but to the global welfare and safety and the national security of the united states. >> michael, i know you're nodding your head here, but i want to have bakari weigh in if i can either on the -- is this a different level of chaos, or to an extent, at least policy-wise, is this what the president promised? the appropriate always said he was going to do this. >> i think the president's always been misguided on tariffs. i think one of the things when comparing it to china solar panels that michael was not being forthright about is that it's different from having open-ended tariffs a
you talked about gary cohn leaving. we have the general jackass. we have the mystery man from seychelles. we have trump's personal lawyer complaining he hasn't been reimbursed for his payment to stormy daniels. we have kellyanne conway who apparently violated the hatch act, which in any other administration would be the scandal of the month. so all of this would be funny if it wasn't so damn depressing, scary, and dangerous, not just to the economic welfare of the country but to the global...
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>> the tariffs were a bridge too far for gary cohn. he did speak out against charlottesville -- >> but racism, white supremacists wasn't. >> he did speak out, he was opposed to pulling out of the paris climate accord. i think gary cohn has done a good job with regard to the tax cuts. i've been at many roundtables at the white house where he was really the chief salesman in that. and clearly he couldn't do it with regard to tariffs. he didn't support it. he realized that it might help the steel industry now, but it's not helping those who need steel down the road. he just couldn't do it and said enough is enough. >> michael, you're nodding your head so much, i promise -- >> i'm shaking my head. >> i guess that's a good point. shaking your head and nodding are two different things. shaking your head in disagreement. you've been wonderful not cutting in. we're going to get to you as soon as we get back from the break. we have a lot more to cover. we're going to talk more about gary cohn's departure and why he chose not to leave over a dis
>> the tariffs were a bridge too far for gary cohn. he did speak out against charlottesville -- >> but racism, white supremacists wasn't. >> he did speak out, he was opposed to pulling out of the paris climate accord. i think gary cohn has done a good job with regard to the tax cuts. i've been at many roundtables at the white house where he was really the chief salesman in that. and clearly he couldn't do it with regard to tariffs. he didn't support it. he realized that it...
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gary cohn is out as the president's chief economic advisor. move asestors saw the an affirmation that donald trump is pushing forward with tariffs. is romain. not a foregone conclusion the president will go ahead with this? >> no. there were doubts yesterday that donald trump would follow through and the markets closed with gary cohn out and reports seeming to suggest that donald trump was ready to move forward. he was not willing to listen. that is reflected in the market today, asia took it hard and u.s. markets not doing too bad but a little bit of a sector rotation at stocks that would be most affected by the tariffs and stocks that may weather the storm better like small-cap or anything steel and aluminum. shery: we show you what the exchange rates are doing, the most immediate impact is the yen, gaining strength but the canadian dollar is the biggest the -- what with about the uncertainty gary cohn 's resignation brings? >> since donald trump has been in office, he and the administration were on the same page with tax cuts and deregulati
gary cohn is out as the president's chief economic advisor. move asestors saw the an affirmation that donald trump is pushing forward with tariffs. is romain. not a foregone conclusion the president will go ahead with this? >> no. there were doubts yesterday that donald trump would follow through and the markets closed with gary cohn out and reports seeming to suggest that donald trump was ready to move forward. he was not willing to listen. that is reflected in the market today, asia...
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tomorrow is gary's last day. much has changed during the time gary has been with us. over the years senators and staff have asked for more and more of the legislative counsel's office. but thanks in large part to gary's hard work and then to his leadership, we could always rely on his team for meticulous professionalism and expertise. i understand gary is headed back to his native midwest. he departs with our gratitude and our best wishes for him and for his family. now on another matter, mr. president, the dodd-frank law became effective in 2010. it ostensibly targeted banks too big to fail but seven and a half years later dodd-frank has proved to be far too blunt an instrument. for one thing it's imposed a crushing regulatory burden on small community banks and credit unions. rather than fixing too big to fail, dodd-frank has threatened to make many of these main street, mainstays too small to succeed. this is especially problematic because of the central role that local financial institutions play in each of their communities. local lenders provide a majority of sm
tomorrow is gary's last day. much has changed during the time gary has been with us. over the years senators and staff have asked for more and more of the legislative counsel's office. but thanks in large part to gary's hard work and then to his leadership, we could always rely on his team for meticulous professionalism and expertise. i understand gary is headed back to his native midwest. he departs with our gratitude and our best wishes for him and for his family. now on another matter, mr....
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top economicmp's advisor gary cohn is stepping down and president trump says in a statement that gary has been my chief economic advisor and done a superb job of driving the agenda and reforms unleashing the market economy once again. talent and i thanked him for his dedicated service to the american people. we will continue to bring you the details of the story as it happens. this is bloomberg. ♪ emily: a developing story coming out of washington, and boomer is a party their economy is resigning as president trump's top economic advisor. : in addition to the white house says was a highlight has historic tax reform, and he wishes the administration had success in the future. marty schecter is here in san francisco joining me in the studio with more. we heard this was coming -- we heard four months it was coming, and now it has. what do you make of it? >> we reported a story this morning that donald trump was going to impose tariffs she is strongly against and he would resign. does this signal that donald trump is not going to change his mind? if you listen to donald trump today, you
top economicmp's advisor gary cohn is stepping down and president trump says in a statement that gary has been my chief economic advisor and done a superb job of driving the agenda and reforms unleashing the market economy once again. talent and i thanked him for his dedicated service to the american people. we will continue to bring you the details of the story as it happens. this is bloomberg. ♪ emily: a developing story coming out of washington, and boomer is a party their economy is...
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gary is the guy you think oh, gary's here, i don't have to worry. gary knows everybody so as long as he's there, it is fine. that's gone. i think that's not good. that's why the markets down. is peter navarro is some guy that you -- i think peter is fiery and gary is not fiery. i think those who settle down to -- what are we going to do? we have a number that's going to be too hot if you sell again, why did i sell it and what was i thinking when i sold ammazon it is business as usual. all right? >> except for maybe buying a new core >> buying what >> i don't know why i am not hearing you. >> who's the duke seller >> duke energy >> 2.5 million shares. >> yeah, i know. >> oh, who are you referring to? >> well, depends >> well, that's very helpful >> let's go to eamon javers on how this departure or the announcement of this departure went down last night hey, ammoeamon. >> you guys point out, the strategy here before the markets opened, ross and mnuchin is out on national television of a united white house but also talking about some of the -- a soften
gary is the guy you think oh, gary's here, i don't have to worry. gary knows everybody so as long as he's there, it is fine. that's gone. i think that's not good. that's why the markets down. is peter navarro is some guy that you -- i think peter is fiery and gary is not fiery. i think those who settle down to -- what are we going to do? we have a number that's going to be too hot if you sell again, why did i sell it and what was i thinking when i sold ammazon it is business as usual. all...
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was getting gary cohn's spot. as a background, larry kudlow is very much a free trade kind of guy. this is part of his dna. he is very much for low taxes this. is the kind of person that the market is going to like. maybe there is a thought there that he might temper some of the president's goals for tariffs, et cetera. let's go to the floor of the new york stock exchange where traders know him well. nicole is standing by with reaction. >> everyone is not surprised that he gets this top spot but there is sort of speculation. we had a lot of volatility in the market today, trish, in fact we were down 330 points at the lowest point. right now down just 145. off the lows of the day certainly. you have so many things coming together. there is us uncertainty in the white house which traders don't really believe. that that always leads to something. that is out of the way. the tariffs remain front and center. worries across the board for china and $60 billion of imports. that is worrying traders. the big picture, retail
was getting gary cohn's spot. as a background, larry kudlow is very much a free trade kind of guy. this is part of his dna. he is very much for low taxes this. is the kind of person that the market is going to like. maybe there is a thought there that he might temper some of the president's goals for tariffs, et cetera. let's go to the floor of the new york stock exchange where traders know him well. nicole is standing by with reaction. >> everyone is not surprised that he gets this top...
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. ♪ anna: gary cohn resigns. president trump's top economic -- economic adviser quits the white house. the yen and treasuries gain. clamping down on china. washington will impose restrictions on chinese imports. how will beijing respond? testing the saudi crown prince. he gets the red carpet treatment as he visits london. will he prove a reliable new partner for brexit england? we are less than a half hour away from european trading. take a look at futures. we gave up all of our gains in yesterday's session, much of our gains in yesterday's session. we have futures down across the board. futures are often 0.6%. dax futures are also off. take a look at treasuries in the resignation.cohn's you can see that the yield dropped into the end of the session yesterday and this morning as investors bought bonds, seeking the sake haven of government debt, also buying the yen. you see a lot of risk off trade going into effect. what do you see on the g mn? anna: the risk off trade, and departure seems to be the main theme. we
. ♪ anna: gary cohn resigns. president trump's top economic -- economic adviser quits the white house. the yen and treasuries gain. clamping down on china. washington will impose restrictions on chinese imports. how will beijing respond? testing the saudi crown prince. he gets the red carpet treatment as he visits london. will he prove a reliable new partner for brexit england? we are less than a half hour away from european trading. take a look at futures. we gave up all of our gains in...
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gary was the only person talking about trade. we've had a lot of economic analysis from kevin and others and i can assure you, president trump is going to be no herbert hoover >> eamon, i believe you're still with us here how hornet important is all of the messaging larry brings he's a nope media when it comes to media art cashin brought up the point about how he was sent previously by administrations to bring the administration's message to wall street does that make him a more solidified choice in the eyes of president trump? >> i think that's exactly what the president would think about him. he's been active on cable news for years. he can be a public face of the administration he's vocal he knows the talking points. he gets television media generally. and that's something that a candidate like a knight wouldn't have she's more of an inside track person a player here in the white house to be b sure on taxes, but not mb who's a familiar face to wall street that point that jim cramer was just making about how kudlow will be perc
gary was the only person talking about trade. we've had a lot of economic analysis from kevin and others and i can assure you, president trump is going to be no herbert hoover >> eamon, i believe you're still with us here how hornet important is all of the messaging larry brings he's a nope media when it comes to media art cashin brought up the point about how he was sent previously by administrations to bring the administration's message to wall street does that make him a more...
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gary, chris, nicole. turning to the other big story, we were talking about this, the tariffs themselves. we had today treasury secretary steve mnuchin sitting down with maria bartiromo and here is what he told her. the president is not backing off any of these steel and aluminum tariffs. watch. >> we are definitely going to end up with these tariffs and we'll roll this out very, very quickly but again there will be a mechanism, to the extent the president wants to give waivers the president can do that. but we're moving forward with the tariffs, that is the plan. trish: my next guest likes hearing that. he says tariffs are necessary right now. only thing that can level the playing field. joining me knew nucor ceo. john, thank you for being on here today. >> thanks for having me. >> obviously your company has a lot to gain. your workers have a lot to duane. tell us why you're so thrilled with this move? >> well we very much support the president in his decision to move forward with these tariffs. i heard y
gary, chris, nicole. turning to the other big story, we were talking about this, the tariffs themselves. we had today treasury secretary steve mnuchin sitting down with maria bartiromo and here is what he told her. the president is not backing off any of these steel and aluminum tariffs. watch. >> we are definitely going to end up with these tariffs and we'll roll this out very, very quickly but again there will be a mechanism, to the extent the president wants to give waivers the...
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everybody wants to be there. >> gary cohn was a stabilizer. gary cohn respected by wall street. gary cohn was a salve to the stock market. >> do it in a very loving way. it will be a loving, loving way. they'll like us better, and they will respect us much more. >> republican opposition to the tariff plan growing by the day. senate majority leader mitch mcconnell finally breaking his silence tuesday saying he has genuine concerns the new tariffs could spark a trade war. >>> gary cohn's sudden departure is already rattling wall street. dow futures falling as much as 400 points overnight. the s&p 500 futures sliding about 1%. that set the tone for global stocks. the entire global stock market basically fell because of gary cohn. asia slipped lower, while europe opened down an hour ago. why is his resignation shaking the markets? his presence reassured investors. the former goldman sachs executive was pro pr-business, pro-free trade. a moderate globalist voice to president trump's nationalist instincts like trump's plan to slap tariffs on aluminum and steel imports. cohn opposes th
everybody wants to be there. >> gary cohn was a stabilizer. gary cohn respected by wall street. gary cohn was a salve to the stock market. >> do it in a very loving way. it will be a loving, loving way. they'll like us better, and they will respect us much more. >> republican opposition to the tariff plan growing by the day. senate majority leader mitch mcconnell finally breaking his silence tuesday saying he has genuine concerns the new tariffs could spark a trade war....
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let's start with gary cohn. how important do you think he was for influencing economic policy at the white house, and how concerned are you by his decision to leave? senator shelby: gary cohn was very influential. he was a heavyweight in the economic area. when he came to the white house, he had good success in the private sector, well-respected. i hate to see him go. i worked with him on other things dealing with the regulation in the financial system. worry that the white house lacks experienced policymakers and managers who can oversee process is now the gary cohn has left? senator shelby: i think gary cohn will be missed. i think you need a balance. there are others that can fill the void but i hope the president will find somebody that will help balance a lot of views at the white house. basicow, gary is a free trader. i am a free trader but i wanted to be fair. i see where the president is coming from but you have to realize trade is a double-edged sword, and you have to be careful how you implement it. we
let's start with gary cohn. how important do you think he was for influencing economic policy at the white house, and how concerned are you by his decision to leave? senator shelby: gary cohn was very influential. he was a heavyweight in the economic area. when he came to the white house, he had good success in the private sector, well-respected. i hate to see him go. i worked with him on other things dealing with the regulation in the financial system. worry that the white house lacks...
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me too >>> gary cohn leaving the white house. kbho is -- who is going to replace him and what impact on the president and the agenda and the markets can't agree to the views but there is a selloff for across the boardch a rebound midday but back lower again. how politics is affecting your money, next on power lunch most etfs only track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. you know what's not awesome? gig-speed internet. when only certain peopl
me too >>> gary cohn leaving the white house. kbho is -- who is going to replace him and what impact on the president and the agenda and the markets can't agree to the views but there is a selloff for across the boardch a rebound midday but back lower again. how politics is affecting your money, next on power lunch most etfs only track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and...
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could gary cohn be feeling at this moment -- how bad could gary cohn be feeling? matt: i wouldn't suggest he would be, he could take credit in saint that the republican partyparty and the trump administration -- the tax cuts. he did say i had a big part of that if not the most important part. vonnie: he could do anything now, he got very far along that route, and he went and had time in the administration and could take credit for public policy that has been made. and there are plenty of people who have left goldman sachs and haven't gotten to administration and have done else.ine somewhere max: i can't help but think back to that ad that was donald trump's closing else. ad. i'm a big it was donald trump doing the voice over, but there sayingominous voiceover there is corporate criminals robbing your wallet -- and there's this long tradition of lloyd blankfein going to the administration, but if he joins the trump, my mind will be gone. is there any possibility that it is not a coincidence that gary cohn is gone and then you get lloyd blankfein talking about leavi
could gary cohn be feeling at this moment -- how bad could gary cohn be feeling? matt: i wouldn't suggest he would be, he could take credit in saint that the republican partyparty and the trump administration -- the tax cuts. he did say i had a big part of that if not the most important part. vonnie: he could do anything now, he got very far along that route, and he went and had time in the administration and could take credit for public policy that has been made. and there are plenty of people...
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gary cohen has been the grown up in the white house. i don't know where they will find a replacement. so he said maybe wilbur ross. commerce has been an easier thing, a place to fill in with people but penny did a pretty good job with that. betty: it seems like wilbur ross's profile has been elevated with this. it has been interesting, allen, seeing how technology and stocks have continued to rise. it has certainly been a bumpy road in some aspects, but they continue to rise in tandem with the markets but shrugging off any of this outside news. do you think technology will continue to benefit and ignore what is going on here? alan patricof no one will completely ignore it -- alan: i focused primarily in the world and they are relatively immune as far as taxes, interest rates, and politics. you don't ever hear that discussed. the companies that are growing 20%, 30%, 40% a year, what happens, unfortunately, they don't pay enough attention to it and i think that is changing a bit. allen, yuan in hong kong, some of us argue devaluations at
gary cohen has been the grown up in the white house. i don't know where they will find a replacement. so he said maybe wilbur ross. commerce has been an easier thing, a place to fill in with people but penny did a pretty good job with that. betty: it seems like wilbur ross's profile has been elevated with this. it has been interesting, allen, seeing how technology and stocks have continued to rise. it has certainly been a bumpy road in some aspects, but they continue to rise in tandem with the...
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we'll talk much more about gary cohn's resignation. we are continuing to cover breaking news president trump's , top economic advisor gary cohn is stepping down. president trump says in a statement that gary has been my chief economic advisor and did a superb job of driving the agenda and reforms unleashing the market economy once again. he is a rare talent and i thank him for his dedicated service to the american people. we will continue to bring you the details of the story as it happens. this is bloomberg. ♪ emily: a developing story coming out of washington, bloomberg is reporting gary cohn is resigning as president trump's top economic advisor. cohn in a statement issued by the white house says it was an honor to serve, especially with historic tax reform. he says he is grateful to trump for the opportunity and wishes him and the administration success in the future. marty schecter is here in san francisco joining me in the studio with more. we heard this was coming -- we heard this was coming for month that it did not happen. n
we'll talk much more about gary cohn's resignation. we are continuing to cover breaking news president trump's , top economic advisor gary cohn is stepping down. president trump says in a statement that gary has been my chief economic advisor and did a superb job of driving the agenda and reforms unleashing the market economy once again. he is a rare talent and i thank him for his dedicated service to the american people. we will continue to bring you the details of the story as it happens....
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Mar 7, 2018
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talk is about gary cohn and trade. the most recent trade deficit numbers today came out, the gap up 5% to $56.6 billion in january, a widening more than forecast, the biggest trade deficit going back to 2008. overall trade deficit last year was $566 billion. we await news on who could requires gary cohn. peter navarro says he is not on the long list of candidates to replace gary cohn. he is one of the more nationalist or protectionist candidates that had been talked about. interesting that he made the comment to bloomberg television. steel and aluminum stocks, strength as gary cohn's departure is seen as cementing the idea the president will go ahead with the tariffs. alco and century aluminum company rise. retail is weak today, especially the dollar stores, discount retailers, dollar tree third quarter's missing estimate, first court forecast missing estimates and comparable sales trailing. onlysts saying buy weakness, guggenheim says that the earnings per share forecast missed but it reflects a greater than expected
talk is about gary cohn and trade. the most recent trade deficit numbers today came out, the gap up 5% to $56.6 billion in january, a widening more than forecast, the biggest trade deficit going back to 2008. overall trade deficit last year was $566 billion. we await news on who could requires gary cohn. peter navarro says he is not on the long list of candidates to replace gary cohn. he is one of the more nationalist or protectionist candidates that had been talked about. interesting that he...
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Mar 7, 2018
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kevin, gary cohn is out. this is about tariffs, they say, or do you think cohn touted my people on both sides of the aisle as very smart and extremely capable couldn't take the daily chaos anymore? he was just over it? >> well, it's certainly more than just a new york guy going back to new york. i don't think you can underestimate just how much of a stabilizing force that gary cohn was this in administration. this is an administration that doesn't have as deep a bench of experience on economic issues, on policy, so the fact that he was somebody that's respected by folks in the business community as well as having built really strong relationships with many folks up on capitol hill. and, you know, not really known as a rock-ribbed republican, but respected by a lot of the republican allies that the president has up on capitol hill and was critical to helping pass the signature accomplishment so far, which was transform. but that i think is the big concern. which is now we have somebody seen as somebody who can
kevin, gary cohn is out. this is about tariffs, they say, or do you think cohn touted my people on both sides of the aisle as very smart and extremely capable couldn't take the daily chaos anymore? he was just over it? >> well, it's certainly more than just a new york guy going back to new york. i don't think you can underestimate just how much of a stabilizing force that gary cohn was this in administration. this is an administration that doesn't have as deep a bench of experience on...
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Mar 15, 2018
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when gary cohn said he was leaving, what was your reaction? >> my reaction was that gary was very comfortable that the strategic objectives that he set for the country, not for himself but the country, when he took his position, were either achieved or well on their way to being achieved i think if you look at the amount of communication that exists now between the administration and the key, the key economic legislators or legislators that are focused on economic issues and the growth of the economy, there is a very, very high level of efficient communication and open and objective discussion of the issues i think the tax reform hasn't really begun to be fairly understood or attempted to be understood but the marketplace, you always have to understand, the marketplace will demonstrate by prices and lastly, the reassessment of regulatory standards for banks based on their footing size is a very fundamental shift around competitive fairness around the lending space. this is going to be a very, very growth-oriented -- it will not add risk it wil
when gary cohn said he was leaving, what was your reaction? >> my reaction was that gary was very comfortable that the strategic objectives that he set for the country, not for himself but the country, when he took his position, were either achieved or well on their way to being achieved i think if you look at the amount of communication that exists now between the administration and the key, the key economic legislators or legislators that are focused on economic issues and the growth of...
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Mar 7, 2018
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we begin with the fallout from the surprise resignation of president trump's chief economic adviser, gary cohn stocks are falling as we speak off the worst levels the dow jones industrial average is still down by 270 points. it's a loss of 1%. investors clearly trying to gain what that departure means to the markets. for more on that and what's happening inside the trump white house, let's bring in president trump's former xh eer communica director, anthony scaramu u cci. >> you know gary cohn well the markets are on edge. what do you make of his resignation? >> listen, i think the world adds an enormous amount of value during the tax plan. as you know from his eck appearance at goldman sachs, a team builder incredibly smart on markets. one of the smartest people i've met in my life he has a tremendous amount of value inside the white house one of the things about the white house, for me, it was to serve for 11 days all day. i was no longer serving under the discretion of the president, so i think there was obviously a conversation there and gary decided this was a good time to leave and
we begin with the fallout from the surprise resignation of president trump's chief economic adviser, gary cohn stocks are falling as we speak off the worst levels the dow jones industrial average is still down by 270 points. it's a loss of 1%. investors clearly trying to gain what that departure means to the markets. for more on that and what's happening inside the trump white house, let's bring in president trump's former xh eer communica director, anthony scaramu u cci. >> you know gary...
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Mar 7, 2018
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the white house top economic advisor, gary cohn, has announced his resignation. mr cohn was said to have been unhappy with the president's threat to impose tariffs on steel and aluminium imports. the us state department has confirmed that north korea used the nerve agent, vx, to kill the half—brother of kimjong—un in malaysia last year. and this video is trending on bbc.com. remember this photo of a little girl staring up in awe at a new portrait of michelle obama 7 well now the former first lady has met little parker curry and posted this clip saying, "parker, keep on dreaming big for yourself...and maybe one day i'll proudly look up at a portrait of you!" that's all from me now. and the top story here in the uk. military experts in britain are testing the substance thought to have made a former russian spy and his daughter critically ill. now on bbc news all the latest business news live from singapore. asian markets react to the news that the white house's top economic adviser steps down just hours after president trumps stands firm on steel and aluminium
the white house top economic advisor, gary cohn, has announced his resignation. mr cohn was said to have been unhappy with the president's threat to impose tariffs on steel and aluminium imports. the us state department has confirmed that north korea used the nerve agent, vx, to kill the half—brother of kimjong—un in malaysia last year. and this video is trending on bbc.com. remember this photo of a little girl staring up in awe at a new portrait of michelle obama 7 well now the former...