Transcript for Adviser talks economy under President Trump
The White House is pushing ahead. On their top economic priorities today national economic. Council director Larry Kabul convene a group summit really of nine different state leaders to talk with the go to a crisis jobs. Infrastructure Larry Kudlow came by the briefing room. Tell us the state of the economy can look. Mr. Kudlow thanks so much for joint and that's you've got to a summit today with local leaders from nine states certainly a lot of good economic news to celebrate on employment 200000 jobs. Created last month what's the biggest threat to the economy right now is you see it. Weller and by the way we had Margaret is this morning. Big number and retail sales manufacturing. And very low inflation on import prices so I will repeat. We are an aide long durable prosperity cycle. With tremendous job creation and low unemployment across the board every category. He that you say you Santa durable growth right now that fed chief just last week said he has some concerns about the impact of the trade war about. The slowing of the global economy. Are you confident that that trade war isn't going to get us off course in the next few months. Well look we are negotiating with China were back at the table. I think that's a good thing it's. Not coming easily but there are constructive talks going on I sent my big hit you think -- that we there it's possible we may never reach a deal with China. Well I don't know it I don't want to predict one way or the other. We may get Dili may not get a deal the president said several times he's quite comfortable where we are. Our economy's booming their economy is slumping very badly so we'll see how this plays out. Colleague of yours an ally the White House Peter feel founder of PayPal billionaire investor said this morning that he thinks that. China has been working closely with Google Google needs to be investigated for treason he says a president. Apparently supports that do you think that Google. Has acted tree in a treasonous way with its partnership with the Chinese. I am not aware. Of any facts on that now Peter tales a good man to bring guy great entrepreneur. Is a strong supporter of the administration great help to us. But I also keep in touch with gogel. And the president have goal comes around frequently to talk. I am not aware many of these charges. And the fact go look themselves themselves have denied it. I Villa by the way is not operating in China presently. And I think it would be very difficult for them of these they think it would be difficult for them I don't think there in cahoots with the Chinese military but look. Peter tell we will look into the matter. President said that I think this morning we'll have a look at this thing. And see whether we can clarify. But at this point in time I must say my friend Peter 'til I'm a little bit skeptical. Well what I ask you real quickly about those debt ceiling negotiations under way up on Capitol Hill for. The average folks out there that debt ceiling is like the nation's credit card you got a raise it to keep paying the bills how damaging. Do you think it would be to the US economy. Director called vote if a deal isn't reached if we were to default in some way. Well the what do we do not want to do. As secretary ammunition is that time again and I concur we do not why going to. Right our currency the US dollar. Is the strongest most dominant currency it is the international currency it is international global money. We gonna wreck that that would do great damage to our economy. Capital would lead the US. And we would find ourselves probably a pretty bad slump so let's not tempt fate. Now is confident rodeo can be reached in the next a couple of weeks I think cell. I have talked to secretary. I think he's fly in this on the optimistic side I think speaker Pelosi understands the importance of the debt ceiling. I whether it goes alone or whether it's part of the budget deal I think they're making pretty good progress on. The file that I've just got us here if you're concerned at all about what the president tweeted over the weekend about those four. God democratic congresswoman so much has been set last 24 hours does that bother you at all his words on those about those when. Look first and essayist it's way outside my way. Second they now say as you know he'd waited it and he has been explaining it in the last 24 hours or so. I've known presidents from. Over trying to years and I'll simply say this this is my personal view. There is not a racist bone in his body that is my view. And our thanks again to director Carlo for coming on the briefing room.
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