World. It is one thing for the presence of after business, it is another four the president to give. Today, donald trump did just that. Telling joe kiernan that when it came to the fed, he was fed up. Specifically, the president said he was not happy bemoaning that every time the economy strengthens, powell and company want to raise rates. The hint at their disapproval when rates are going up, rarely do they actually say it. But as kevin reports, most president s are not this president. I guess not democratic weapon . No doubt. When he said he was not thrilled, they should tell you two things. The president is unvarnished in his criticism of all things washington. I think this is probably the most unconventional. With respect to monetary policies. You cannot take shots at Jerome Powell, you should say clearly. Understand this, the second thing it tells you is the pressure will be applied directly from the white house in a very subtle way. You heard the president suggest, listen, he feels that the feds are undercutting his efforts to grow the economy. He says, look, i dont like all of this work that we are putting into the economy, and then i see the rates going up. As you know, residents have long to pine to comment on the feds to avoid influence over the supply. Let me share just a bit of what white house officials are telling us about this today. Lindsey walters was kind enough to send us the statement. She said of course, the president respects the independence of the feds. He considers Jerome Powell a very good man. He went on to add this, he is is not interfering with fed policy decisions. It continues. I am letting them do what they feel is best. His comments are a reiteration. Those longheld positions and public comments. Im going to make is really easy for the folks watching on beard winking and i came a tap of the side of the nose, you know exactly what the president is doing here. He is saying without saying, hey, jerome, back off. Neil if i dream of jeannie kim a i would not want to go there. Kevin, thank you, very, very much. This is not unusual for a president to go after business. Jfk went after the steel industry. President obama to go after wall street oil guys as well. The president has verbally put it out there, hey you, hiking rates in the middle of this, i would rather not and i ams upset when needed. Not a president in the past when this has been happening has welcomed these developers. Fox Business Network as well. Melissa, on this, but rather yo you . Stocks were ended up at the lows of the day on the idea that the president s job only the fed and may be forcing them into the corner. A lot of the times market could react or anything about the fed chairman or anything about the trap tweets we had a nice rally, the s p, i think the reason that trump said this is because a couple of days ago on tuesday, Jerome Powell came out and said, he thinks when the beige book came out, are going to hurt the economy. Anything that you say against trump, he went right after him and said something to him. It was gutsy, and it was risky. Neil interesting. Of course the fed is not an independent being. As you know, during a campaign, he was quite critical that. It is what it is, hes taking us all on on paired where is it going . Worried about trade wars. Those are legitimate concerns. I know that those are legitimate concerns. Investors though, that is where people are worried. We even heard from the imf two days ago saying, listen, if they become trade wars, there are going to be some delay 450 billion subtracted from the Global Economy by 2020. So, i do think that you are right, perhaps, because chairman powell did speak about global trade tensions that President Trump answered in this way, may be, hey, if youre going to be in my backyard, may be ugly in. Neil now people are going to read into everything picked sometimes we overrate these things. Im wondering if the Federal Reserves only hikes rates one more time this year rather than the two of the consensus. People are gonna be, oh, my gosh, they are doing the president s bidding. In fact, that might have just changed it. Nobody will know. They are scheduled to be slated to more times. If they dont, i dont think the markets are going to react negatively. In fact, if they do what trump said, look at all the things that have internet. He comes out and says, dont you dare raise drug prices, and outcome of these companies are not raising drug prices. He has helped money come back. Neil one of the things that has been set is that this is not a very president he will use the white house to change policies that rattled some. I think with a wink and a nod, they hope that he gets what he wants without this coming to a fullblown trade war. At the very least he will not filter his own opinion out in the way that other president s have in the past. And i mean, even that reaction to the interview that he gave on another network, saying i would be saying this if i was a private citizen, now i am president , but i still have the same opinion. I do think that where investors need to be focused are on the rate hikes. To your point, we are never going to know for sure if the fed changes its trajectory. I have a hard time believing that fed chairman powell would change the directory based on some kind of offthecuff comment. But he would be aware of the pressure, right . He still thinks highly of that, you know. But that does continue a pattern great does that pattern getting all the right resorts. Humane trumps pattern of saying things. I think he is very hands on beard he more handson than any he want do you like that . I like that. I am not a political person. Neil you dont like government interference. I dont want rates to go up to it as a regular person, it is a balance. Neil even if they are justify going up . For ghosts justified, slowly, slowly going up. Bank stocks . I dont want to buy a house with her credit card. Paying out individual and what you do with business coming up to marry the two. Neil again, we finish this under 34 points. You could tie this really second by second, it indicates changes. In the market themselves, i think they have to be up by 4 this year. The dow has been relatively flat, but oil prior to this. We will see what happens. Right now, Small Business administers. Thank you for coming. I know the president has been pushing today. I led an effort to try to improve job training on big fortune 500 companies that can help in epic what i didnt understand, linda, maybe you could help me come it is there a sense that the government is going to kick in some dough for this watch to mark or Companies Like fedex and gm and microsoft and walmart, are they ponying up the money . This is not a Government Contribution Program at this point but this is really Public Private partnership. A lot between our educational institutions and our companies. And the Companies May be training a lot themselves, but hopefully they are also going to be working with our vocational schools, our Community Colleges to be saying, what is it that we need . We have a wonderful economy going. 6. 7 million jobs that are vacant that we do not have the people to fill those jobs. I hear it from Small Businesses as well as large businesses. We are looking to change the educational paradigm and emphasis in the country so that industry will go into those vocational and Community Colleges and say, look, this is what i need beard im going to bring the crib and adhere your classes. You can train the students for what i need. I will provide the agreement. Part of the time the students will be in here, part of the time the students will be on my factory in my floor and i will pay them while theyre there. Or companies that are doing it now. I was at a Community College this week in charleston virgini virginia. That is exactly what big manufacturing town has done. Those entered chips and apprenticeships, they can earn as much as 40,000 neil at trade were potentially could shatter that. Do some of your members that you talk to go out there, do they worry about that . The president that might tries to do the right thing, but something might blow up in their face. I am not hearing that. The number one concern that i hear from Small Businesses as i am traveling around the country, and have been to 40 states now and visited with 51 district offices. Those businesses that i talked to, their number one concern right now is a skilled workforce. And i was asked recently, well, what is a skilled workers mean as training workers for whatever skills are necessary, whether it is artificial intelligence, robotics, carpenters, plumbers, welders, electricians, never skills are needed, that is what we need to focus on in training get the jobs are, they are great from a Small Business perspective to get the training can be you can your business. Neil a lot of businesses wary about interest rate. If you that the president with what he said to worry about the Federal Reserve, which are members welcome that . You know, i came out today to talk about this wonderful pledge at 23 countries, not countries, businesses have signed to have opportunities for almost 4 million workers. And add 23 businesses here in the east room of the white house neil dont think any of them are concerned about Interest Rates . I think Interest Rates would affect everyone. Neil so with a welcome what the president between what youre doing with this initiative and telling the Federal Reserve temecula, with a welcome that . I think our businesses right now are growing, the economy is growing very strong, and they are going to continue doing what they are doing to grow the economy. Neil thank you very much. Thank you. Neil the tariff situation is real. I doubt that they have done a number of stored needs to show that could add the price of a car. That could be just for starters. Republican senator ron johnson. But what . Wheres that coming from . I dont know. Vasco im not gonna have enough for retirement. Like theres Something Else i should be doing. With the right conversation, you might find youre doing okay. So, no hot dog suit . Not unless you want to. No. Schedule a complimentary goal Planning Session today with td ameritrade®. Your insurance rates a scratch so smallr you could fix it with a pen. How about using that pen to sign up for new insurance instead . For drivers with accident forgiveness, Liberty Mutual wont raise their rates because of their first accident. Liberty. Liberty. Liberty. Liberty. Neil we got this word from the white house here that wants is apparently not enough. The security advisor to invite Vladimir Putin to washington for a ball meeting, presumably at the White House White house. Discussions are underway. Before the midterm elections can with those two will sit down together again. Internations capital. Some of the issues to get into here. Publican senator ron johnson. We make of that . This is a president that really does value personal relationships. I would much rather be talking to adversaries that not talking to them. Make sure that you dont have any miscalculations, russia has 7,000 nuclear weapons. I would rather improve relations with them then see them further deteriorate. The way that you do that is through discussion. Neil a lot of your colleagues want to make sure that the russians never do that sort of thing and have a legislation that would call for stiff sanctions on that. What is not clear is that if they were to misbehave again is whether the president agrees with you on that. Obviously what russia has been doing, not during our election system, but other Cyber Attacks and other cyber intrusions into our infrastructure, there are so many things that we need to be concerned about. We have to draw the line and approached russia through strength and resolve, and we have to make sure that what sanctions we impose actually work. To try to change their behavior for the better. There are some sections that work better than the other, targeted sanctions, i think that gets under their skin more than anything. That is what i would be doing, exposing their illgotten gains, make sure that they cannot move money around. Make sure that they restrict their travel. Neil i get a sense that a lot of your republican colleagues, baby yourself, i know your concerns on trade. The president , maybe, is getting a little bit too bumpy here. That is the problem. There is an effort to rein him in on tariffs, it is not something that he could decide, it is something the senate has to decide on Vladimir Putin. This measure that you just talk about where you punish russia for interfering in another election. He does not endorse either view on trade or that. Where you guys with him . We truly appreciate the fact that we stopped adding to the relay giving tori in this press american induces more competitive. Both of those acts brought certainty to the economy which is why the economy has taken up. Neil what are you afraid of the president standing in the way that . Absolutely that is my concern. We are contacted by hundreds of businesses with 15 in broadspectrums. Small medium large, there is no body supporting the trade war. They are highly concerned. They are canceling or delaying capital expenditures. They are seeing overseas markets that they spent decades developing, drawing appeared they are seeing steel prices 30 higher. Their global competitors are not paying those higher prices. They can ship product into the country very competitively. Neil he is not dialing back, right . I am looking back at u. S. Imports, auto import. 176 billion worth, 36, Auto Components and parts can with that is close to 360 billion worth of auto related parts, supplies, actual autos. This could be humongous. This could be totally counter productive in terms of the good things that we have done. Neil when you tell him and you have written this letter into the one letter can with does he say to you customer while, bottom line, he is going to listen to all of our council. He has been pushing back hard for a month. Both privately and publicly. I am just going more and more public. It is my responsibility, and hopefully these anecdotes from Small Businesses, people that support him, that want to see him succeed, it is important that this administration understand that is not a shortterm game for shortterm pain for longterm gain. There is permanent damage being done right now. I hear you. It sounds like you are just ignoring you. I dont want to pick a fight here, but maybe the hope is the market, not withstanding, hope it will work out. It will never come to blows. Youre generally concerned that it could and he could do damage in your state and elsewhere. But he is not listening. Neil i do believe that ts president understands that the clock is ticking. He realizes that he will have to conclude the deal. Conclude the leverage, concluded negotiations neil it is still going on months from now. A lot of damage will be gone. Farmers will go bankrupt. Most markets close, domestic supply increases. We do not have the demand for it. Prices plans. One small dairy farmer, 200 cows has already lost close to neil we must know that, we must know that senator. That is the reason why i delivered the onepage synopsis. If he delivers these pages, they are being delivered to him in the next couple of delays, personally delivered to him. Hopefully he will take the time to read that onepage synopsis. He will be as concerned as i am. Neil thank you for taking the time to talk to me. Thank you. Neil time to take iq from those that know how to balance that. Afterhe this. Nt baker, how are . They took care of everything a to z. Having insurance is something everyone needs, but having usaa now thats a privilege. Experience the versatility of utility at the lexus golden opportunity sales event. Get up to 2500 customer cash on select 2018 nx 300 models. Experience amazing at your lexus dealer. Hais not always easy. 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With tripadvisor, finding your Perfect Hotel at the lowest price. Is as easy as dates, deals, done simply enter your destination and dates. And see all the hotels for your stay tripadvisor searches over 200 booking sites. To show you the lowest prices. So you can get the best deal on the right hotel for you. Dates, deals, done tripadvisor. Visit tripadvisor. Com neil when a problem comes along you must admit it. But i am telling you, some of our most noted president s have been through it and survived it. Dear member that . There is an old saying that defeat isnt often. Not to conceal responsibility, because i am a responsible officer of the government. First i must say that i take full responsibility for my own actions and for those of my administration. As angry as i might be with the activities taken without my knowledge, i am still accountable for those activitie activities. The biggest regret has to be the intelligence failure interact. A lot of people but the reputations on the line. I regret very much what we intended to do which was to make sure that everybody is moving into better plans because they want