Wake of his tweet about the china tariffs. The president said he wasnt worried about it he, in fact, expected it he said it is because people dont fully understand what his tariff strategy is in fact, the president here blaming the market for not understanding exactly what his approach is to tariffs and to china. He was also asked by me exactly why he picked 10 as opposed to 25 or 5 on the tafrs he tariffs here is what he had to say. I did more than anybody thought with the first 250 billion and the 10 is for a shortterm period, and then i can always do much more or i can do less, depending on what happens with respect to a deal but im very happy the way it is right now. So the president there saying that he could go up to above 25 if he felt that was necessary, but he said he doesnt see that as being necessary at this point. So that puts a lot of tension now on those negotiations between the u. S. Side and the chinese side here in washington in Early September the president was also a
What a fist half it was. Well have more on that in just a moment, but we begin tonight with that meeting that investors have been all waiting for, President Trump ane c president xi are in japan at the g20 summit ready to discuss trade. Analysts say that this discsion could mark aurning point for the market which has been bouncing around for months now onll any and headlines of progress and stalemates between the w two largest economies. Kayla towshe reports from osaka, japan. Reporter white house officials cant say with xacertaintyly what will transpire during President Trump and president xis 90minute meeting, but a Senior Administration off tells me the working assumption is that it will result in an agreement to deescalateon tensi and resume talks for a unspecified amount of time, that is unless president xi refuses to revisit e terms beijing balked at last month. Since then tensions haveig ened but theres still an opportunity according to the negotiator. I think president rump nee
This hearing is just under four hours. [inaudible conversations] [inaudible conversations] the committee will come to order. Before we begin i now i know i speak for everyone here when i wish our Ranking Member a belated happy birthday yesterday. And were supposed to at some cake later, so lets celebrate. But late happy birthday. Weng with you sir. Thank you commissioner werfel, before a printer for the ways and Means Committee of the earlier than usual this year. We have a lot to go over with you so i appreciate you answering request of our a members to come before the Committee Early this year. First, as it pertains to the current 2023 tax Filing Season, i want to thank you and your team for the Technical Work to ensure the quick and withoutth delay implementation of provisions of the tax relief American Families and workers act. We take the appreciate the steps the agency is taking right now to beent the legislation once the Senate Passes of the bill and it is signed into law. Espec
Lauren goodwin, senior director of multiasset mfrl strategy. Lauren, good to see you. Good to be here thanks for having me, mike want to go back to just about a month ago right before the previous cpi report, right july 12th. The s p 500 within 1 of where it is right now and the 10year treasury yield at 4 where it is right now. When we got it, it was a bit of a kickstart for the late july rally and now weve given it back what is the status right now in your mind of the landing and the economic scenario and how much of that the market can benefit from or potentially have the market learned pretty good information from the last Inflation Report from june that we saw in july which was the disinflationary process has moved from an early stage to a more stable one and that is one where the fed is not done hiking and investors can be excited about the potential for a soft landing. I think its a little bit of a false start because until unemployment claims start durably rising, that narrative
[inaudible conversations] [inaudible conversations] the committee will come to order. Before we began i now, i know speak for anyone here when i wish our Ranking Member a belated happy birthday yesterday. And lets have some cake later so lets celebrate. But late happy birthday. We appreciate serving with you. Thank you, commissioner werfel, for appearing before the ways and Means Committee a little earlier than usual this year. We have a lot to go over with use appreciate you answering the request of our members to come before the Committee Early this year. First, as it pertains to the current 2023 tax Filing Season i want to thank you and your team for the Technical Work to ensure the quick and without delay implementation of provisions of the tax relief for American Families and workers act. We particularly appreciate the steps the agency is taken right now to be ready to immediately implement the legislation once the Senate Passes the bill and it is signed into law, especially with