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Stocks are expected to trade ahead of that range. the set is trying to prevent a wideing downturn. the pace of job creation slowed last month and manufacturing contracted for the first time in threers 82. wall street is expecting a quarter percent reduction not a bigger one. the fed is expecting a cautious approach to rate reductions. as we've heard from the fed chairman and a number of fed officials there is still a good level of optimism, regarding the current set of the xi and some officials questioning whether we need this second round reduction. the fed is maintaining a cautious rate redu...

China has really spooked the markets and obviously angered the president, as well. on twitter he said our great american companies are hereby ordered to look for an alternative to china, including bringing your company's home and making products in the usa." as we take a look at the big board, still in the negative. done by more than 500 points at this hour. obviously the market not helped by powell's comments, which frankly seem to express a bit of disinterest in going far in a rate reduction. to be by, say, have a basis point. i don't know. this is happening with the g7, as you know. interes...

Trump that he should go full bore with the trade wars. they can't take that into consideration. they have to look at what the data says and if the data suggests that we're having a slowdown or job growth is faltering or what have you, they have to respond to that. they can't worry about what incentives they're setting for this president. what are they going to do? punish trump by sending us into recession? that is not on the table. >> of course not. >> so they are in a difficult position. >> and they could justify a rate reduction but looking at earlier data before the tariffs. it was clear th...

Reform that got passed. grover, are companies continuing to give backenning. >> they are. we have been keeping track at our website her.org. all the companies that have announced bonuses, increasing 401(k) matches. significant new investments. and for utilities, reductions in utility costs in people's rates. specifically because of the tax cut. only if the company says this bonus, this new -- benefit, this new rate reduction for utilities is because of the tax cut, we include them. and so we have large companies, small companies, we had the company that just put out 3 to $6,000 bonuses. so the...

Conservative measures that the joint committee on taxation is using produces as much tax revenues as they cost. i think under more realistic assumptions, not using current law scoring, but real law scoring, they produce substantially more revenue than they cost. the question is, are you willing to borrow a trillion dollars in order to put these in place? the corporate tax cuts are very unpopular, middle class tax cuts are going to end up, i think, being popular. i look at it and i say, you know, this produces under pretty conservative assumptions about $2 trillion of additional gdp. you're bor...