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The journal editorial report and i am paul gigot in a Surprise Move attorney general Merrick Garland cities appointing david weiss Special Counsel in the hundred biting probe. Garland said the weiss will be responsible for the investigation of the president son as well as any other matters may arise in weiss, asking to be appointed Special Counsel this week and garland agree saying that it was in the Public Interest to do so in the spring and Wall Street Journal, Colonists Stan Heninger and kim strauss and sedan, what is this mean for the probe it does weiss have some new special powers that h...

Term cost economically from that trade policy shock? >> unfortunately, i think the answer is yes. and i think listen, businessmen and ceos are no more courageous than any other particularly public company ceos job number one is staying ceo even if you have a five-year accelerated appreciation of capitol spending, you can be spending a lot more time with your family if you make the wrong choice. and i think so much confidence o is based on how people are feeling at the time, if a large company has financial departments and discounted cash analysis, at the marginal it's really dependent on how y...

Capitol investment in the wake of the tax reform and deregulation.now it is fallen, you are saying that it seems to have, the trade is a big culprit there? >> i believe so.because again, large businesses in particular about 40 percent of profits come from outside the united states. so if the bull boeconomy is slowing it is natural to see a slowdown in capitol spending 3%growth. capital spending growth in 2000 he was about 11 percent. it's about three percent this year.a slow down quite a bit and it is hard to see businesses making big capitol spending plans when they are such an on-again, off-...

Of 3.1 or 3.2, something like that. we're not seeing in a acceleration. >> it is used for productivity which gives you growth and income and higher asset prices. paul: you can pay people more! [laughter] >> precisely. the problem now is trade policy is blunt and probably some of the supply-side impact of the tax cuts that we saw. paul: on investment? >> on investment because companies obviously are somewhat more concerned about what the future may hold. about their supply chains, about the product, is the tax cut is there, bad news is that you probably are not seeing the full benefits of a tax...

An increase in capitol spending next year people start to get worried that president trump may not be reelected people might start to try to pull capitol spending into 2020 because of the accelerated depreciation that you're seeing. people might be worried about that peer regulatory i think is still -- tech is a different story but for the most part i'm not sure that's a problem for the fed that was the only other it seems to me the policy is too tight at this point to sustain a trade war. interest rates would have to be lower if the trade war will be longer-lasting. paul: as i learned monetar...