Yesterday the president tweeted that the impeachment effort is holding back the stock market. Do you believe that is true . Yes i do actually. Because i think fundamentally, your network has reported some pretty prominent famous investors, lee cooperman, lloyd blank fine among them, who do not want to see a change in Donald Trumps economic policies. They like the taxcut incentives, they like the rollback of regulations, they like the opening in the Energy Sector and they like the fact that the president is trying to reduce trade barriers and is engaging china in order to protect the American Economy and defend the american workforce, they like those policies and the stock market which is up about 20 , s p, yeartodate, which i would argue is predicting Better Business conditions ahead, the stock market has benefited from these incentive oriented supplyside markets and they dont want to see a change. When you get these votes and so forth. Im not here to talk about the chronology of impeachment but nonetheless i think the impeachment story in fits and starts has hurt the stock market. I think donald trump is right. I will say this. This is not my lane but i just want to say a couple things about this. Number one having read the transcript of the phone call probably a dozen times just seems clear to me that there is no problem with it, theres no legal problem, no impeachable problem. It was a congratulatory phone call and with respect to our concerns about the military assistance to ukraine those concerns were principally Taxpayer Protection concerns. Weve always wanted europe to do better on the burden of cost sharing whether it is nato or ukraine or whatever. Corruption was a huge issue in ukraine. That affects the distribution of money. We wanted some time to make sure what moneys we provided would get to where they are best used in ukraine and so finishing the corruption issues not in the future but back in 2016 and 2015 became important. There was never any quid pro quo, however, theres nothing illegal, nothing impeachable and i frankly think looking at this that the process is unfair and it looks to me like very divisive and partisan process. Was the president asking for an investigation . I dont think and trying to answer your question on the market. I think the market sees the same thing to be honest with you. I dont have a chance anymore to watch the network that i used to have but i watched the parade of investment experts all pretty much saying the same thing, there is a certain amount of disruptive here, lets see what the case is that they do not want to change in economic policies which have done so well. Todays number on an adjusted basis for revision in prior months and the gm strike was over 300,000 new jobs, 303,000 new jobs, a blowout number that shows the underlying strength of the economy and the investment world does not want the policies to change. Would president pence change the visit went down the line . I dont have any speculation. Im giving you my personal view on the matter. I dont think there is any there there and i think frankly, back in my lane, if you will, investors do not want to change in economic policy. Let me make another point. I appreciate the questions. Not only was the jobs of 300,000, we are in a middleclass boom where inflation adjusted aftertax income has increased for household by 5000 or roughly 7 in just 21 2 years and those numbers are better than the prior 16 years under democrats and republicans. That is how good this has been. Even today, on the wage numbers the managers are doing less well than the production workers. Nonsupervisory production wages up 3. 5 in the last 12 months. Overall the number was 3, the people benefiting, solid middleclass working folks in this country. Folks on wall street and main street dont want that to change, thats my take on the whole thing. Let me be as fair as i can be, go ahead. How aggressively is the president pushing for taxcut to. 0 and where is the status of that process . Im sorry, we saw some stories about it yesterday, theres not much new to report. I broke that story a couple months ago, tax cuts 2. 0, it is an informal process, i am start, trying to be good to both of you, im consulting my friend kevin grady of the house ways and means committee, a brilliant tax guy, we are talking house members, senate members, colleagues in the administration, people on the outside. This is something that would not surface for many months. You will see later during the campaign. The idea here for tax cuts 2. 0 was to provide additional middleclass tax cuts and to enhance Economic Growth prospects but we dont have any details the report yet. It is a work in progress. You said youre hoping to have similar timing with phase 1, president xi will be in brazil. Is that a possibility . I dont want to speculate. Are you optimistic about still getting signing around that time . The president is optimistic more importantly but as i reported the talks are going very well, they are not done yet. There is more hard work but the talks are going very well but the president himself has indicated a good deal. Where do you get the 303 . Hang with me. 28,000 payrolls unadjusted. Im adding to that 95,000 upward revisions for the prior two months which is a remarkable number and that gets to 223,000. On top of that we estimate the cea and in easy estimate 60,000 adjustments for the gm strike, that gets you to 283 and we put in 20,000 for the census workers and that gets you to 303 and those are real numbers. Do you have an overcoat . I am sorry, please. On the wage, hourly wage, that is actually down from 3. 4. I believe last month was 209 but heres the key point. Im not certain but it has been around 3 for many months. What is interesting about that is this category nonsupervisory production, these are not the managers but workers on the Assembly Line and construction, they are 3. 5, they are doing better than the managers have been doing and i think that is interesting. Are not going to go through. I said a lot. This is a middleclass boom. Average household 66,000 after inflation and after taxes, people had a 5000 increase, 5000 increase in what Ronald Reagan used a takehome pay. Thats a big number into and a half years, 7 above the Prior Administration and the Republican Administration and democrat administrations that preceded us were basically flat. We are up 5k already into a half years and that just shows the success of the program of tax cuts and the regulation and Energy Opening in bringing down trade barriers. That is why i said i dont think investors want a change in policy, i dont think workers do. Hardhats, people on the Assembly Line dont want to change either and that is why the stock market reflects that when you get political announcements. People are very disappointed in Jerome Powell. Has there been any discussion . The president tweeted people are very disappointed in Jerome Powell after he cut rates this week. Has there been any discussion of trying to get rid of him and is it a sign that the economy is not as strong as this administration is telling given rates had to be cut . Actually i would reverse that logic. Let me say a couple things, the president has been outspoken in his views about the fed chairman, okay, second point there is no conversation to get rid of him whatsoever, whatsoever. Let me put an exclamation point on that. Monetary policy in my view, we had severe, tight Monetary Policy last year. It was unnecessary and damaged the economy. They changed their direction, in my view at least, Monetary Policy is in a much better direction now, target rate is down to 11 2, 3 quarters, Balance Sheet is expanding, Monetary Base expanding, these are positive signs. That huge obstacle to gross is now waning and moving away. That is why i think todays job number is 300,000 plus as an example and we will see better Economic Growth and im very oldfashioned. I think the stock market is a pretty good predictor of business. When the stock market slept badly when the fed was tightening enough, sure enough this softened in the market has come back. I dont know what it is this morning but the s p is up 21 yeartodate. That is predicting much stronger Business Conditions for the next year or so. I got to get an overcoat and gloves. Thank you very much. Tune in for a recent coverage of the boston book festival with author discussions on the environment in a keynote talk by ben crump. Perry will join us for two hours on the live call in program to discuss her books on africanamerican history and racial inequality. For more about this we can schedule check the Program Guide or visit book tv. Org. Now to mark the 40th night 49th anniversary. The over 400 days that he had 51 other americans were held hostage in tehran. Wayne doherty is here to us today courtesy of joe and barb christo. They served eight years before joining the Central Intelligence agency. He served as a operation officer. R. At the university of california irvine. He is the author of executive secrets. In the presidency