LIZ: FIRST MEASURE OF ECONOMIC
PRODUCTIVITY FOR THE SECOND
QUARTER IS DUE OUT THIS FRIDAY,
AND THE WHITE HOUSE IS
APPARENTLY SAYING GET READY FOR
SOME OUT OF THIS WORLD FIGURES,
DESPITE THE ONGOING EYE FOR AN
EYE TARIFF BATTLES.
PEOPLE ARE SAYING IS GOING TO
HAPPEN HERE.
CHARLIE: THIS IS FROM WITHIN THE
WHITE HOUSE AND FOR ALL THEY
COULD BE MAKING IT UP.
WE SHOULD POINT OUT THAT
PRESIDENT TRUMP HAS TOLD PEOPLE
HE EXPECTS 4.8% ECONOMIC GDP
ARE TALKING THAT DOWN SAYING 4.3
, 4.4% ECONOMIC GROWTH.
LIZ: STILL GREAT.
CHARLIE: BUT THERE IS SOME
PEOPLE IN THE WHITE HOUSE THAT
DO THEY SAY THAT?
IT'S A FEW THINGS BREAK THEIR
WAY, THE ONLY WAY THESE THINGS
ARE MEASURED IT'S KIND OF FUNKY
INCLUDING THE FACT THAT IF A LOT
OF BUSINESSES HAVE BOUGHT
MATERIAL WORRIED ABOUT A PENDING
TRADE WAR, THEY WOULD STOCKPILE
THAT COULD ADD TO GDP GROWTH, SO
THAT'S ONE OF THE FACTORS THAT
THEY TALK ABOUT AND SO THEY'RE
SAYING LISTEN.
THE PRESIDENT HAS HIS NUMBER 4.8
, I THINK PEOPLE LIKE LARRY
ECONOMIC ADVISE OR BUT THERE IS
AN OUTLIER THERE SAYING DON'T BE
SURPRISED IF THIS THING HITS
FIVE BECAUSE OF THOSE
INTANGIBLES THAT MAY KICK IN.
NOW WE SHOULD POINT OUT I'M NOT
GOING TO PUT MY FINGER ON THE
CHOPPING BLOCK AND SAY THIS IS
WHAT HAPPENS.
THE GENERAL CONSENSUS AMONG THE
ECONOMISTS IS BETWEEN 4 AND 5%
ALL THE BIG WALL STREET FIRMS
ARE SAYING THAT.
YOU'VE HAD MASSIVE CORPORATE TAX
CUTS YOU'VE HAD MASSIVE
ECONOMIC REPORT, THE TRUMP
ADMINITRATION IS PLANNING A
MAJOR ROLLOUT IF IT HITS THAT 4
PLUS PERCENT BOGEY.
IF IT'S BELOW THAT THEY'RE
DEPRIVED OF A MAJOR TALKING
POINT BUT WE SHOULD POINT OUT
THIS AS WELL THESE NUMBERS ARE
BEFORE THE REAL TRADE NEGATIVE
TRADE IMPACT KICKS IN AND ALL
YOU HAVE TO DO IS READ THE WALL
STREET JOURNAL, KNOW TODAY THAT
TRUMP IS BAILING OUT FARMERS
THAT ARE BEING HIT BY TARIFFS TO
KNOW THAT THERE IS GOING TO BE A
NEGATIVE ECONOMIC IMPACT ON
TARIFFS THAT PROBABLY WON'T SHOW
UP IN THE SECOND QUARTER NUMBERS
IS WHY WHERE A LOT OF PEOPLE IN
THE WHITE HOUSE ARE WORRIED
ABOUT THOSE THIRD QUARTER NUMB
BERMS ARE RIGHT BEFORE THE
MID-TERMS.
ARE THEY GOING TO BE STRONGER
THAN THIS?
WILL THEY BE WEAKER, WILL THE
DEMOCRATS SEIZE ON THEM
ISOTROPOUSES TRADE WAR COSTING
JOBS SO THIS IS A MOVING TARGET.
BUT FRIDAY IS PLANNING TO BE THE
TRUMP ADMINITRATION IS PLANNING
FRIDAY TO BE A REALLY REALLY BIG
DAY.
LIZ: NOW THE WHITE HOUSE GETS,
DOES IT GET THE NUMBER IN
ADVANCE?
I CAN NEVER REMEMBER.
I KNOW THEY GET THE JOBS NUMBER.
CHARLIE: YOU WOULD THINK THAT
THEY HAVE SOME CLUE ABOUT WHAT'S
GOING ON WITH THIS BUT THIS IS
PUT OUT BY JOBS NUMBER IS PUT
OUT BY THE BUREAU OF LABOR
STATISTICS.
THIS IS PUT OUT BY THE BUREAU OF
ECONOMIC ANALYSIS AND IT'S THE
PART OF THE TREASURY DEPARTMENT
BUT I COULD BE WRONG, SO BUT YOU
WOULD THINK THAT TRUMP HAS SOME
INSIGHT WHICH IS WHY HE'S SAYING
4.8.
I'M WONDERING IF HE'S SAYING 4.8
BECAUSE IT'S REALLY HIGHER THAT
HE'S ACTUALLY SETTING THOSE LOW
EXPECTATIONS ALTHOUGH TRUMP IS
NOT A GUY THAT SORT OF HIDES --
LIZ: UNDER PROMISE AND OVER
DELIVER.
CHARLIE: HE'S QUITE THE OPPOSITE
HE OVERSTATES STUFF SO THIS IS
WHAT'S COMING OUT OF THE WHITE
HOUSE AS, YOU KNOW, FOR THIS
VERY VERY STRONG GDP REPORT.
LIZ: ANYTHING ABOVE 4% IS
FANTASTIC.
THEY HAVE HAVE A 3.8%.
CHARLIE: I THINK IF IT'S BELOW 4
THEY LOST THEIR TALKING POINT
TALKING ABOUT.
TARIFFS ARE THE GREATEST.
IT'S LIKE ALI.
I AM THE GREATEST.
>> TARIFFS ARE THE GREATEST.
>> [LAUGHTER]