Hard to find better employment report. Big jobs, moderate wages, plenty new people came to work. Growth w/out inflation. True around the world. Ed Lazear, Stanford & Hoover; Joe Lavorgna. NAIRU dead? Phillips curve dead?
Trump backs off tariffs. Virtually no one will pay. They could have been harmful to US econ. Foreign retaliation. Gary Cohn leaves. Trump negotiating style: punch them in teeth first, then make a deal. Nato spending & tariffs. Why not targeted tariffs against China? Save steel w/ budget subsidies & transparency. GOP Congress & Ryan against. Nationalist? Protectionist? Or fair & free trade?
Dan Henniger, deputy editor WSJ editorial page. Trump’s Hoover temptation. Apres Cohn, le deluge? Trump’s Tariff folly. Trump attacks WSJ.
Trump’s tariffs hurt trade, which is good. Tear down barriers. Capital inflows.
Stocks w/ Jon Najarian & Jeff Kleintop: overheating? Inflation? Tariffs? Jobs?
Gen Jack Keane: N Korean story. Trump sanctions work? Denuclearize? Planning for meeting? Goals?
Money/Politics: Trump going for clean reset? Bossie & Lewandowsky in WH? McMaster? Kelly? JiVanka?