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Facebook, Apple, Amazon, And Microsoft All Reporting Earnings This Week; Apple’s FaceTime Bug; PG&E Files For Bankruptcy; Huawei Criminal

January 30, 2019

xfdls MORNINGS-WITH-MARIA-01

<Show: MORNINGS WITH MARIA>

<Date: January 29, 2019>

<Time: 06:00:00>

<Tran: 012901cb.231>

<Type: SHOW>

<Head: Facebook, Apple, Amazon, And Microsoft All Reporting Earnings This

Week; Apple’s FaceTime Bug; PG&E Files For Bankruptcy; Huawei Criminal

Charges; Nvidia Issues Warning; Senator Kamala Harris Backs Medicare For

All Plan; 2020 Presidential Run; Artic Temps On The Way; Effects of the

Shutdown; California Tax Debate; U.K. Weighs Exit Amendments; Colorado

Farmers Renting Water; Test For 911 in Milpitas; Progress Toward Peace - Part 1>

<Sect: News>

<Byline: Maria Bartiromo, Dagen McDowell, Cheryl Casone, Janice Dean, Jack

Keane>

<Guest: Grover Norquist, Jon Hilsenrath, Matt Schlapp, Phil Orlando>

<Spec: Facebook; Apple; WhatsApp; Earnings; PG&E; Bankruptcy; Huawei;

Nvidia; Howard Schultz; Michael Bloomberg; Steven Mnuchin; Larry Kudlow;

Burger King; CBO; Federal Reserve; T.J. Rodgers; Cypress; European Union;

Theresa May; Super Bowl; Chicago Tribune; Sears; Eddie Lampert; Colorado;

Boulder County; Farmers; Taliban; Afghanistan; American Troops; Pakistan;

ISIS; al-Qaeda; John Bolton; Venezuela>

MARIA BARTIROMO, FOX BUSINESS NETWORK ANCHOR: And good morning, ladies. Good morning, everyone, I’m Maria Bartiromo, thanks for joining us live this morning from Washington. It is Tuesday, January 29th, your top stories right now 6:00 a.m. on the east coast. Earnings in focus this morning, investors are watching results from several Dow components ahead of the open this morning. The one to watch after the close is Apple. We’ve got everything you need to know this morning previewing the report. Apple under fire.

Meanwhile, FaceTime hit with a new bug that lets people eavesdrop on you without your knowledge. How you can fix it, coming up -- big story. Rising tensions with China meanwhile, the U.S. bringing charges against Huawei as trade talks are set to resume tomorrow morning. The very latest on state of negotiations with Treasury Secretary Steven Mnuchin this morning. That interview at 8:00 a.m. Eastern, join us for that. PG&E makes it official, California’s largest utility filed to bankruptcy protection, following the massive wild fires. We’ve got all the details, coming up.

Former Starbucks CEO Howard Schultz roasted. The billionaire hackled at an event last night as he gears up toward a possible independent run for the White House. We’ve got a big show this morning coming from D.C., U.S. Treasury Secretary Steven Mnuchin is here, National Economic Council Director Larry Kudlow is here along with House Minority, California Congressman Kevin McCarthy. Michigan Congresswoman Debbie Dingell will join me, along with AFL-CIO President Richard Trumka. Don’t miss a moment of it. We’ve got a big three hours, coming up.

And we turn now -- right now, we kick it off with Wall Street markets. We’re looking to see a rebound this morning. Take a look at Futures actually have just turned negative once again. Futures down just fractionally, about 6 points on the Dow Industrials; 1-1/2 points lower on the S&P; and the NASDAQ down 13 points. This, after stocks finished lower yesterday on China growth fears along with weak guidance from Nvidia and Caterpillar. We told you -- the Caterpillar numbers right here. And of course, it did worsen throughout the day as investors react to a weaker- than-expected earnings and guidance.

Joining me right now is Federated Investors Chief Equity Market Strategist, Phil Orlando. And Phil, it’s good to see you this morning.

PHIL ORLANDO, CHIEF EQUITY MARKET STRATEGIST, FEDERATED INVESTORS: Thanks for having me back, Maria.

BARTIROMO: All indications that we are seeing a slowdown and worries around China, among other issues, how do you see the markets here as more earnings have come into play?

ORLANDO: So, you had this 20 percent waterfall decline in stock prices in the fourth quarter of last year, we thought the market was attempting to price in the prospect of recession this year. Multiples contracted from 18 times earnings down to 14 times earnings. In our view, there’s no risk of recession this year. So, the rally that we’ve seen over the last month, 14 percent rally, the market is starting to price in the fact that maybe we’re not going to have a recession. But we’ve had a 14 percent rally in a month. That’s very, very powerful. We would absolutely expect some consolidation here over the next month or two particularly as we’ve got these critical sign posts coming up in the month of March, but as we look out over the balance of the year, we do think that multiples will return to that 18 level, and we’re going to end up with a pretty good year.

BARTIROMO: To what do you attribute the slowdown? We’ve got earnings in focus and we’re looking at a number of companies out that give weaker-than- expected guidance or miss on the top line. Lockheed Martin, Pfizer, and Verizon are reporting this morning. Apple is, of course, out after the bell, so when you look at the earnings picture, where in terms of industry are you seeing the most slowdown?

ORLANDO: So, I think in a word, uncertainty is what’s impacting earnings and guidance to some degree. You’ve got the Fed flip-flops that we saw in the fourth quarter last year, the uncertainty about whether or not the United States and China are going to be able to consummate this trade deal. You’ve got Brexit overhanging on the global market and certainly the government shutdown, which was up there for 35 days, and it was just temporarily resolved last Friday. You’ve got a number of issues there, all of which are impacting companies in some way, shape or form. So, with earnings up 25 percent year-over-year in the first three quarters of last year, this fourth quarter is a little softer, I think we’re up about 13 percent. So far, we’re about a quarter of the way through the earnings season.

BARTIROMO: Right.

ORLANDO: And I think what companies are pointing to are some combination of those four issues that I just mentioned.

BARTIROMO: Yes, you mentioned the shutdown. The shutdown apparently costing the economy $11 billion according to new analysis from the Congressional Budget Office, although Larry Kudlow is disputing that number, and he’s going to join us this morning live to talk about it. The report says that it hit $3 billion, that’s one-tenth of a percent of economic activity in the fourth quarter alone. So, are there sectors that were -- that were hit hardest in that regard, or do you want to look at those companies that are largely tied to the China trade as one area of the real weakness?

ORLANDO: So, Kevin Hassett, the chairman of the council of economic advisers under Trump had advised us that the shutdown was going to take about one-tenth of one percent out of GDP per week.

BARTIROMO: Right.

ORLANDO: So, remember, the shutdown started right around Christmas, so that makes sense that we lost, you know, a tenth of a percent in the fourth quarter, you know, maybe a half a percent here in the first quarter. We’re at 1.7 percent GDP growth in the first quarter, consensus blue chip is around 22, 23. So, we think this pretext a little high and there will be, you know, sort of a downward revision as we get later in the quarter. But in terms of industries, I think it’s really across the board.

BARTIROMO: Across the board.

ORLANDO: Yes.

BARTIROMO: Let me ask you about technology because it’s big week for tech, Apple, of course, the big story today, reporting after the close tonight -- the only big tech reporting. Microsoft, Facebook out tomorrow, Amazon is out on Thursday. This is the week that we’ll focus on technology and that’s where really the growth stories have been. Would you want to put new money to work in any of these names ahead of their earnings?

ORLANDO: Short answer is probably no. Again, you’ve had this 14 percent rally here in the last month, you’ve got concerns about slowing economic growth both in the U.S. and China. We think that those issues will be resolved as we get into the back half of the year, but right now, you know, why run the risk of putting new money to work after you’ve had a big rally in some of these names ahead of what could be a disappointing earnings number or perhaps conservative guidance.

BARTIROMO: Now, the stock has come down because people were worried about it. So, we’ll see what the numbers are. Would you, at some point, go back in to tech? What’s your favorite group right now, Phil?

ORLANDO: So, the areas that we like best in the U.S. markets are energy, financial services, industrials, and health care. In terms of looking overseas, emerging markets look very attractive to us. So, the areas that have really gotten hit the most are the ones that we’ve been attracted to.

BARTIROMO: All right, we will leave it there. So, the valuations are better, I guess, is what you’re saying.

ORLANDO: The valuations are much more attractive. We think the fundamentals are still very strong.

BARTIROMO: Phil, it’s good to see you this morning. Thanks so much.

ORLANDO: Great to see you. Thank you, Maria.

BARTIROMO: Phil Orlando joining us there. Meanwhile, a bug in Apple’s FaceTime app lets users listen in someone’s phone without even the person knowing. Dagen McDowell, what’s happening this morning? Good morning to you, Dagen.

DAGEN MCDOWELL, FOX BUSINESS NETWORK ANCHOR: Well, Apple has some explaining to do, but particularly on this earnings call this afternoon. So, there’s a bug in the Apple iPhone that would allow people to eavesdrop on FaceTime users’ calls. A FaceTime user calling another person could listen in while the recipients phone is still ringing even if the person never accepts the call. This was -- it involves several steps in the Group FaceTime feature on the iPhone.

Apple has disabled that Group FaceTime while it tries to come up with a fix for this, but you can eavesdrop in on somebody, essentially listening through the microphone, even if a person never takes that call, you could eavesdrop on rooms with unattended devices and even receive unauthorized video from the phone. And again, it would take several steps to do this, but this is coming from a company, Maria, that loves to brag about its privacy protections and even throws shade at the likes of Facebook and other technology companies.

And adding embarrassment to embarrassment, yesterday was International Data Privacy Day and Tim Cook was tweeting about that. Here’s what he said on Twitter yesterday before this bug, this eavesdropping bug was disclosed. We must keep fighting for the kind of world we want to live in. On this Data Privacy Day, let us all insist on action and reform for vital privacy protections. The dangers are real and the consequences are too important. Big whoops for Apple, and of course, everything that happens in the business world is a political opportunity. The Governor of New York Andrew Cuomo had to weigh in on this as well, putting out a statement late yesterday, say, “Urging FaceTime users to temporarily disable the app. So, Apple beat him to it, they’re trying to fix it. Embarrassment nonetheless.

BARTIROMO: That’s incredible because you don’t even know -- I mean, the phone could be ringing and you don’t even know that they’re listening. I mean, that’s the worst part of it.

MCDOWELL: Right. I can explain later as the show goes on how this work, but you’d have to place a FaceTime call, go to the group, add yourself to the call and then the recipient of the call would have to hit maybe one like the on-button on the phone in order to activate it, but it was possible, and it was all over the internet yesterday how to do it.

BARTIROMO: Well, if -- so, if it’s -- if it’s not on and you say -- and you do -- and you decline the phone call, they can’t listen in?

MCDOWELL: Unless you -- but you can’t touch the phone at all. Like, it’s not even declining the phone. Like, if you hit the up -- the up volume button on the phone, and so if I was playing this trick on you, it would activate it, and they could essentially hear what was going on in the room.

BARTIROMO: Unbelievable.

MCDOWELL: Yes.

BARTIROMO: All right. I want to hear more about that, for sure. Meanwhile, there’s this, as expected, PG&E filed for bankruptcy protection following those devastating wildfires in California. Cheryl Casone on that in headlines right now. Cheryl, good morning to you.

CHERYL CASONE, FOX BUSINESS NETWORK ANCHOR: Good morning, Maria. Well, PG&E is facing roughly about 30 billion in potential liabilities, as investigators are looking into whether the company’s equipment played a role in starting California’s deadliest fire. More than 100 people died following a series of wildfires that burned hundreds of thousands of acres over a two-year period. The utility providing energy service to 60 million people, we should add. Taking a look at shares of PG&E, look at that, in the premarket down nearly nine percent. And those loses have actually paired back in the last hour or so, folks.

Well, China’s Vice Premier has arrived in Washington for high-level trade talks that are going to start tomorrow. Treasury Secretary Steven Mnuchin and trade representative Robert Lighthizer will attend the two-day meeting. Yesterday, the Trump administration announced a pair of indictments against Chinese telecom giant, Huawei. The U.S. is accusing the company of trying to steal trade secrets from T-Mobile. The Justice Department also charging Huawei with conspiring to violate U.S. sanctions on Iran.

And the China story continues, folks, shares of Nvidia are lower this morning. The chipmaker is warning investors, and expects much weaker sales thanks in part, yes, to China’s slowing economy. It also previously cautioned the sales of its graphics processors that are used in video games PCs would be disappointing. The China effect continues. Chips for video gaming account for more than half of their business, they lost half their market value since hitting their peak back on October 1st, Maria. So, Goldman Sachs had to come out last Friday, Maria, warning that a lot of these chip companies that have massive exposure to China are going to have really rough reports. Micron Technology, even Wynn Resorts, the casino company, has got big China exposure, Maria.

BARTIROMO: Yes, for sure. All right, Cheryl, thanks so much. Coming up next, five police officers are injured this morning, four of them shot while serving a search warrant. The very latest coming up. And then a venti-size disaster for Howard Schultz last night.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: Don’t help elect Trump, you egotistical billionaire (BLEEP).

(END VIDEO CLIP)

BARTIROMO: Former Starbucks CEO having a rough time exploring a 2020 Presidential run as he gets heckled. We break it down right after this.

(COMMERCIAL BREAK)

BARTIROMO: Welcome back. Live from Washington, we are eyeing 2020, former Starbucks CEO Howard Schultz facing backlash last night on his first stop of his book tour. It was his first public appearance after announcing a possible Independent Presidential run. It did not begin smoothly.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: Don’t help elect Trump, you egotistical billionaire (BLEEP). Go back to getting ratio’d on Twitter. Go back to Davos with the other billionaire elite who think they know how to run the world. That’s not what democracy needs.

(END VIDEO CLIP)

BARTIROMO: Oh, my goodness. Schultz is also facing backlash from former New York City Mayor Michael Bloomberg. Here’s what he tweeted: “In 2020, the great likelihood is that an Independent would just split the anti-Trump vote and end up re-electing the President. That’s a risk I refused to run in 2016, and we can’t afford to run it now.”

Here with me this morning to talk more about all of that is Dagen McDowell back in New York, Wall Street Journal Global Economics Editor Jon Hilsenrath here in D.C. with me, along with the American Conservative Union Chairman Matt Schlapp. Gentlemen, it’s good to see you. Thank you so much for joining us.

MATT SCHLAPP, CHAIRMAN, AMERICAN CONSERVATIVE UNION: Welcome to Washington.

JON HILSENRATH, GLOBAL ECONOMICS EDITOR, WALL STREET JOURNAL: Great to be here.

BARTIROMO: Well, thank you so much. And welcome to presidential politics, Howard Schultz. What do you think about that?

SCHLAPP: Well, I’m going to get some popcorn. This could be a real interesting Democratic primary, and whatever this Independent thing is, don’t you love Michael Bloomberg who has probably spent a million dollars on polling, trying to figure out every way to become the President. Publicly chastising Schultz for running as an Independent when that’s exactly what Bloomberg would just love to do if he could.

BARTIROMO: That’s right. You know, on the one hand, Dagen, I feel like there is an opening for an Independent because there’s such extremes and radical conversation going on certainly on the left. And on the other hand, I don’t know, how much is a cup of coffee at Starbucks?

MCDOWELL: Again, that $18.00 cup of Joe, I’m joking, I’m exaggerating. It’s helping --

BARTIROMO: I think it’s like $6.00. I mean, seriously.

MCDOWELL: Yes, we love cart coffee around this place. But again, that’s helping fund this run. But Michael Bloomberg -- you know what, Michael Bloomberg should run for the Democratic nomination if he thinks he can win, it’s just hilarious to have this multibillionaire lecturing Howard Schultz about an Independent run when actually a cup of Starbucks coffee has more charisma than Michael Bloomberg, number one.

(LAUGHTER)

MCDOWELL: Number two, it’s going to be really interesting to see the narrative in the spring of 1992 with Ross Perot was -- Ross Perot was going to divide the Democratic vote, that it wouldn’t hurt the Republican. This could very well -- I mean, it depends on who -- what Howard Schultz says on the campaign trail and how far-left the Democrats go when they’re running for the nomination. But I’ll say this, what he said so far about pay -- how to pay for Medicare For All and how that’s impossible, I would be really interested to hear him talk about how to fix the health care system, because he might come to the table with some really interesting ideas and force the Democrats to answer the hard questions about paying for this.

BARTIROMO: Well, that is the thing, I mean, this party unfortunately, it’s very hard for someone who’s a centrist to actually have a shot. You had Tim Ryan from Ohio, he wanted to do it, he’s an economic thinker, he doesn’t have a shot because of the same thing, you’ve got the Alexandria Ocasio-Cortez’s 70 percent tax rate, the loudest voice in the room.

HILSENRATH: I mean, there’s no question that these primaries are starting out very much from the left, you know, you have talk about a wealth tax, and 70 percent high-income tax threshold. You have Elizabeth Warren who is going around beating up on the banks. This is definitely a left-leaning primary season that we’re going to be going into. What I find so fascinating is the journeys that these different billionaires are traveling. You know, you had President Trump who supported a lot of Democrats as a businessman in New York City traveling over to Republican Party, now you have Michael Bloomberg who started out as a Republican Mayor --

BARTIROMO: That’s right.

HILSENRATH: -- traveling over to the Democratic Party, and Howard Schultz doesn’t know where to go. He doesn’t know where he fits in.

BARTIROMO: He doesn’t know where -- and what about Senator Kamala Harris? Let’s listen to her, because she held a CNN Townhall meeting in Iowa last night. Harris is vowing to eliminate private health insurance with Medicare For All if elected president. What’s your take, Matt?

SCHLAPP: Making insurance companies illegal. Look, the Democratic Party has become quite radicalized. Think about this, less choices for the patient is the solution to our problems. That seems insane. Also, do we really think the government, when you get your tags to drive your car, or when you pay your taxes at the IRS, do you really think all the solutions to our problems are there? I don’t.

BARTIROMO: Yes. Yes.

HILSENRATH: Let me ask you this, who does President Trump want to see come out of this whole --

BARTIROMO: I think he wants Howard Schultz to run.

SCHLAPP: Yes.

BARTIROMO: I think -- he was taunting him yesterday.

(CROSSTALK)

HILSENRATH: No, besides Howard Schultz, among the Democrats, who does he - - who does he want to (INAUDIBLE)

SCHLAPP: I think most Republicans -- I’m not going to speak for the President -- but I think most Republicans believe that Elizabeth Warren is so far out there on the loony left, basically Marxism, socialism that I think they find that a delicious opportunity.

MCDOWELL: Can I --

(CROSSTALK)

BARTIROMO: -- call the confiscation, Dagen. He called it (INAUDIBLE) I mean, this two or three percent tax on assets, confiscation.

MCDOWELL: It is wealth confiscation. It’s totally communist and then to try and find people when they hand in their U.S. citizenship when other countries come calling, wanting you move there because they won’t come and take your hard-earned money.

BARTIROMO: Yes.

MCDOWELL: One thing I want to point out that Jon Hilsenrath said that Howard Schultz doesn’t know where to go. President Trump should be worried about a Howard Schultz, because what if he comes to the table, like I said, with ideas that appeal to voters in this country who feel left out. Who left out from the Republican Party and certainly left out by the left- leaning Democrats in this environment. So, be very, very careful. And one other thing I’ll add with Howard Schultz at that -- at that bookstore, that’s just the New York City welcome wagon.

BARTIROMO: Yes.

MCDOWELL: That’s the way they treat all tourists in this city.

BARTIROMO: No, I think you make a good point because there is that path. That path of centrism. I mean, that path of the center, because people do feel like it’s gone wacky all the way on the left, for sure.

SCHLAPP: It’s a centrist country, but don’t forget Hillary. She’s making noises. Maybe that’s the President’s favorite opponent.

(CROSSTALK)

HILSENRATH: We haven’t seen any --

SCHLAPP: She’s making noises.

HILSENRATH: We haven’t seen anyone travel that centrist path as an Independent to presidency.

BARTIROMO: You’re right. So, it was a smart move on Howard Schultz’s part. We’ll see.

SCHLAPP: Or a risky one for all those billions --

(CROSSTALK)

BARTIROMO: Well, certainly risky. Take a quick break. Extreme weather warning meanwhile on the other side of this break, millions of people across the country are gearing up for an Arctic blast as temperatures are plummeting, that’s next.

Then showing their cards, British Prime Minister Theresa May asking Parliament to put up its plans from Britain’s exit from the E.U. Details on the historic debate. And the vote happening later today, back in a moment.

(COMMERCIAL BREAK)

BARTIROMO: Welcome back. It is cold out, and the deep freeze is setting in, hitting millions of Americans with subzero and dangerous temperatures. Fox News Senior Meteorologist Janice Dean in the Fox Weather Center right now with the very latest. Janice, tell us about it.

JANICE DEAN, FOX NEWS SENIOR METEOROLOGIST: Hi, Maria, yes, we could be dealing with historic lows. These are current windchills, what it feels like when you go outside and you are not protected. Dangerous, potentially life-threatening windchills of -41 in International Falls, -18 in Chicago, but we still have another blast behind this. So, these are morning lows, these are not windchill temperatures: Chicago -25 on Thursday, -31 in Minneapolis, -16 in Detroit. Again, those are not windchill values. Those are actual air temperatures. But with the windchill, in some cases, we could get windchill values of -40 to -50. If you go outside, your skin is going to freeze in minutes.

So, here’s Chicago, Illinois. Your all-time record low is -28. So, we’re going to flirt with historic lows, Maria. This is a big deal. The good news is it won’t be long lasting. By the weekend, we’ll start to rebound, but I also want to make mention with this arctic cold front as we have snow across the deep south. Snow that could cripple travel across portions of Atlanta, Georgia, Mississippi, Alabama, and towards the southeast, so that’s another dangerous part of the storm is the -- not only extreme cold but the snow as far as south as the gulf coast. Back to you.

BARTIROMO: All right, Janice. Wow, what a story, thank you so much.

DEAN: Yes.

BARTIROMO: We will be watching. Janice Dean. Coming up next, the State of the Union is back on, it is February 5th. Speaker of the House Nancy Pelosi extending an invitation to the President, he accepted the offer. Then, we’re taking a look at the enormous cost of the shutdown. What is the real number? Plus, place your bets, Super Bowl fans getting ready to throw down an enormous amount of cash. So, bet on the big game Sunday. We break down all the numbers. Stay with us. Live from Washington this morning. Back in a moment.

(COMMERCIAL BREAK)

BARTIROMO: Welcome back. Good Tuesday morning, everybody, thanks so much for joining us. We are coming to you live from Washington this morning. I’m Maria Bartiromo, and it is Tuesday, January 29th, your top stories right now 6:31 on the east coast right now. Earnings season is in full swing, a lot of big names reporting their fourth quarter today. Xerox and Pfizer set to report in just a few moments, we’ll bring you the numbers as soon as they hit the tape, and tell you how they are impacting markets. Rising tensions with China, the U.S. is bringing charges against Huawei, as trade talks are set to resume tomorrow morning. Treasury Secretary Steven Mnuchin will be my special guest, in about 90 minutes time. We will break it all down with the Treasury Secretary, coming up. So, stay with us.

Meanwhile, Futures relatively flat this morning, take a look at markets, down 20 points on the Dow Industrials, down 4 points on the S&P, down 18 points on the NASDAQ. We are expecting some pressure at the start of trading this morning, after all the major indices finished lower, yesterday, on Wall Street.

In fact, at 4:00, the Dow Industrials gave up 208 points, that was almost 1 percent lower, the S&P 500 down 21, that was three quarters of a percent lower, and the NASDAQ with a 79-point decline yesterday, at the close, down better than 1 percent.

Investors are watching some big news this week, J.P. Morgan, calling this week the most important week of the first quarter, and here is why, you’ve got earnings, you’ve got the British vote, you’ve got U.S.-China trade talks, you’ve got a Federal Reserve decision, we’re not expecting a Fed hike.

We’ve got fourth quarter GDP coming out. And, of course, at the end of the week, the job’s report for the month of January, a big week, investors want to watch it and will be covering it all.

European indices this morning look like this, in terms of trading. We are looking at gains in Europe. The FT-100 up one and a quarter percent, 86 points higher, the CAC Quarante in Paris is up a half a percent, 26 points higher, and the DAX Index in Germany, higher by a fraction, as you can see there.

Asian markets overnight, flat, take a look. No real moves there, because mover was the KOSPI Index in Korea, up a quarter of a percent.

Well, there is tragedy in Houston to report, five police officers injured. Four of them shot, while serving a search warrant. We have the very latest, coming up.

And a debate in parliament, British lawmakers set to vote on the latest plan for the U.K. to leave the European Union. We are previewing that and we will take a look at the impact across the world.

We’ve got a big program this morning from D.C., U.S. Treasury Secretary Steven Mnuchin is coming up this morning, along National Economic Council Director Larry Kudlow, they will take a look at all of these expectations that the economy is slowing.

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