tv Bloomberg Markets Balance of Power Bloomberg October 3, 2017 1:00pm-2:00pm EDT
politics and the economy. david: here the top stories we're watching at this hour with president trump and the first lady and puerto rico grappling with the he-man tearing crisis in the wake of hurricane maria two weeks ago. president trump said th puerto rico is throwing the budget a little out of whack. tomorrow, he will travel to las vegas to face the aftermath of the deadliest mass shooting in modern u.s. history. what we can expect from a visit and what it means for president trump's legislative agenda. we speak with libby cantrell and why she's telling investors why they can't be sure there will be tax reform this year. ♪ david: president trump continues his trip to puerto rico today to confront the devastation from hurricane maa head on. have the island's population is still about water, supplies, or electricity two weeks after the
storm hit. the spring in jordan home and -- let's bring in jordyn home in. president trump said the roads are clear is starting to come back. how does that square with what you are seeing in puerto rico? jordyn: the main roads are clear and it's the back roads were people are still waiting for ai d. it is true that some power is coming back with some telecommunication. is still less than a quarter of cell towers that are working. shery: president trump just a short time a logo addressing people there. after his tweet storm over the weekend, what was the reaction on the island? jordyn: it was a mixed bag. some people agreed that it needed to be a joint effort between puerto ricans and the federal government, but a lot of people i spoke to said the federal government, big brother is there for a reason -- to help out. it has been a mixed message of
what they expect from president trump. david: we are looking at president trump in puerto rico and surveying the damage from the storm. i spoke with your colleague earlier this morning who talked about the federal response to this crisis thus far. how the federal government and relief efforts are working with commonwealth efforts and local efforts. are all these groups working together as you see it? jordyn: a lot and the mayors i've spoken to said they want fema to come out to really see the total devastation and to maybe give more eight than they initially thought was necessary. some people said there's a lot of red tape in getting the federal government to send some more. it's a working effort. shery: president trump this morning thinking everybody involved in the relief efforts. did you hear anything interesting from his comments are from the people there responded and reacting to present trump?
-- or from the people that responding and reacting to president trump? jordyn: a lot of people i spoke to didn't realize he was going to be here. the people outside of san juan did not realize this because of telecommunications, but here in san juan to want more aid, diesel, gas, shorter lines. they are not trying to get into the politics of it. they just want the essential goods. david: what do we know about the entourage traveling with the president? we know the secretary of energy rick perry is in puerto rico as is the acting department secretary of homeland security. scott pruitt is there as well along with mick mulvaney. president trump brought a whole level of high competent cabinet staff with him. are they doing their own thing? what is their objective today as they visit the island? jordyn: i believe they will be staying in the san juan area, but also giving helicopter tours to see other parts of the island that have been hit. remember that he is supposed to be meeting with the u.s. virgins
islands governor as well to see the devastation. david: appreciate the update as she joins us iphone from puerto rico. president trump addressed the crisis there after hurricane maria and how it's impacting the u.s. budget. for more -- >> i hate to tell you puerto rico, but you havehrown our budget a little out of whack because we have spent a lot of money on puerto rico, but that's fine. we saved a lot of lives. shery: let's bring in sahil kapur from capitol hill and alex when. let's that with you. the president saying that this will clear the u.s. budget a little out of whack. what does that mean when it comes to what congress is doing? don't they need a supplemental spending bill? this would not necessarily affect the budget. sahil: first things first, congress could pass extra
funding to fema for the purposes of puerto rico. that's what they did for hurricane harvey in texas, which would essentially increase the amount of money the ministration has to spend on the crisis. the president saying that this would throw the budget out of whack is a bit of a curious statement. in 2016, the u.s. government spent $3.9 trillion on medicare and social security and the pentagon. the aid that we are talking for puerto rico would be in the millions. we are talking time sliver of the us budget so it's an interesting soundbite, but it does not comport with how the budget works. david: what do we know about the objective for this trip in particular with the president surveying the damage and puerto rico? he did meet with the mayor of san juan, who he took to twitter to criticize over the weekend. this is to survey principally or to work on the relationship with leaders on the ground in puerto rico? alex: he and the mayor shook hands an amicably of
enough and then went on a rather in puerto rico plus a few othern things, including the f-35 fighter plane, which was kind of strange to my ear. he is there to draw attention to puerto rico really. wherever the president goes, he attracts attention. i know the folks in puerto rico feel like their disaster has not gotten the sort of notice that houston and florida did. a cannot hurt for the president to be there. necessarily to rebuild relationships or actually get his hands dirty. i do not think we will see him shoveling storm debris out of roads like mike pence did in houston, but he is meeting with locals right now. he's having a pretty good time with them. the reception seems to be pretty friendly and this is the kind of thing you expect from presidents after major disasters. shery: as you mentioned, he is now heading to las vegas after puerto rico.
how important will his role be in trying to unite the united states after such a big tragedy in both parts of the country? alex: the two trips are similar in that respect. this is what you expect of presidents to do after major disasters and major tragedies like what happened in las vegas. i would note that his remarks yesterday after the massacre were perfectly in line with what we would expect from our president. they were very sober, understated remarks reflecting the severity of the incident. in vegas, he will be doing the same kind of things that he is doing in puerto rico -- meeting with victims of the massacre and the folks who responded. david: we will speak with libby cantrell in a moment. you have a piece out about a meeting that the chairman of the house ways and means committee chair last night with republican members of the house.
what did they discuss and set the table for us as we head into that conversation with libby cantrell? sahil: the short answer is that they discuss the state and local tax reductions. the a $1.3 trillion pk in tax code that affects hike tax states like new york and california. their house republicans from the states and they are pretty pivotal. they will not want to vote for tax bill that this avenges their constituents or middle-class families in the districts paying higher taxes. what they discussed with chairman brady was how to potentially mitigate that damage. they discussed making changes to the state local tax deduction. they talked about potentially taxng a choice are giving they would give them payment on the tax filing some interesting set of conversations happening in the backdrop here is that the bill
cannot add to the deficit. cannot get this paid for when most of the people affected aren't democratic states, what can they get? shery: sahil kapur, thank you for joining us. wayne, bloomberg white house executive editor, thank you so much. we are seeing u.s. stocks expanding the record highs. let's get a check of where stocks stand right now with julie hyman with the latest. julie: very modest momentum. we did see the s&p and the nasdaq up even less and now they've gained a little bit more. and he gained today would be a record close for the three major averages. they don't seem to be any real big macro themes today, but individual today, there's some interesting dichotomies we are watching. amd is one of the best performers in the s&p 500. f5 networks is one of the worst performers today. todaynouncing a new chip
and it appears that that is what the stock is reacting to and today session. being flipside, f5 reiterated as a cell over at deutsche bank. that analysts are cutting their price target from $90 to $100 a share. they are saying is a fundamental caution on the company because of weaker than anticipated demand seen for the company's supply and refresh and also competition from the likes of amazon web services. other interesting dichotomy is that the two companies that are focused on capitol hill today going in opposite directions even though both of them are being scolded severely by members of congress. one example here is senator elizabeth warren attacking the ceo of wells fargo, saying he should be fired. she said he bragged about high levels of new accounts even though he was aware of the sales practices at the bank. equifax is coming under fire. greg walden from oregon said you cannot fix stupid when talking
about the situation. those shares are higher. let's bring it back to puerto rico here for a moment. one of the things we have been watching there is the reaction in the muni bond market. you are looking at puerto rico's 8% benchmark muni. that here is in white. you have seen the price go down and you have seen the bond insurance companies as well. this is the correlation on the bottom, which has been rising. shery: julie hyman, thank you. david: coming up, we will speak with libby cantrell. for she is telling investors they cannot be sure they will see tax reform this year. this is bloomberg. ♪
shery: welcome back. this is "bloomberg markets: balance of power." i'm sure and could david shery . david: let's give a check of first word news with mark barton. mark: president trump told reporters about the man police say killed 59 people and wounded hundreds of others at a music festival in las vegas. >> he was a sick man, a demented man, lot of problems i guess. we are looking into him very seriously, but we are dealing with a very sick individual. mark: the president also said, "we will be talking about gun laws as time goes by. the first lawsuits have been travelgainst trump's countries.
they were filed by a nonpartisan legal institute. restrictinghat travel for citizens of predominantly muslim countries by with the u.s. constitution. go tostricted are set to affect october 18. more.ropean union wants primeline juncker said minister theresa's may's speech conciliatory. verification on states rights and financial settlement. iran's finance minister met with cutter today as they continue boycotting the energy rich nation. furthert is likely to inform officials in bahrain, egypt, and the united arab emirates, which began their
boycott months ago. it marks the first trip to inter since the crisis began june could global news 24 hours a day powered by more than 27 journalists and analysts in over 120 countries. i am mark barton could this is bloomber. this is bloomberg. shery: the white house is being accused of softness for their state and local taxes. earlier on bloomberg, larry fink sounded the alarm on the matter. larry: i think it will have to be amended. i think it has to be amended quite ordinarily. i'm not a big believer in the reduction or the one nation of deductibility of state and local taxes. some of the major states today. shery: senator bob corker also warning that it raises questions about the gop's "intestinal
fortitude" and it could jeopardize a tax overhaul. for more, let's bring in libby cantrell. she was the former legislative aid in congress where she focused on fiscal and economic policy. great to have you with us. we are hearing summary things from different sides. we are hearing republican leaders are also considering just putting a limit on these local and state tax deductions. given that they're so much uncertainty out there, how difficult will it be for these committees to come up with an agreement? libby: despite the headlines and despite the fact that we have been talking about tax reform for many months now, we are really more in the second ending ending of this process than the eighth or ninth inning. the have to have the house and the senate agree on a unified budget. there some really stark differences between those budget agreements. we have to make some agreements on a unified budget bill, passed that budget bill, before they can even get to the really
difficult and i would say tricky act of writing the tax legislation. so yeah, a long way from here to there even though we have made some progress in the last couple weeks. david: let me ask about the difficulty of analyzing what we have thus far. center orrin hatch speaking about a tax policy center report on the proposal that we got last week, saying the response will academics or researchers were willing to he their name associated with something so haphazardly cobbled together. don marion, the head of the cbo, might take exception. what do we know thus far? libby: i think it's a good characterization of it that we basically whittled it down from say 1000 jigsaw puzzle pieces to about 100 puzzle pieces. there's still a lot from here to there in terms of whittling it down further. center policy tried to make a best estimate, but the criticisms of the tax
policy center's analysis are legitimate and that we don't even know what income levels the brackets will apply to. we don't know which deductions are actually going to be eliminated or scaled back. i think what they were trying to do was do what they could, but i don't think the have much. shery: in your point of getting to the eighth and ninth inning of this process, how distracting will be the the summer a ceiling or limit the and all these tax talks? libby: that only do you have the debt ceiling, but that looks like it will be more of the spring, but that could be distracting. that may be when they are more in the eighth or ninth in ning. that has to be resolved or the government will shut down. i think these things are not deal breakers, but they are more hindrances. they are more headwinds to a really inherently difficult process. we talked about this before, but president reagan was the last
time we saw a copy hands of tax reform. it took him three years. i think the idea that we are going to see a finished tax -- it justdecember seems as possible, but certainly not probable. shery: if we do not get there, we will only see temporary tax cuts. libby, do stick around. she is staying with us. coming up on the show, we discussed how president trump is dealing with numerous crises and how the ramifications will impact future policy as well. this is bloomberg. ♪
there's so much on his agenda right now that he did not elect to have their. when you look at tax reform like shery ahn mentioned, how much does the president need to be involved in all that? we have this proposal on tax reform in congress seems to be working on writing legislation at this point. is it a problem that he can devote as much attention as he could before these two events? libby: if you look previously that one big difficult things , theyone through progress are only aided by the bully pulpit of the president. it actually helps to have everybody on the same page. even this weekend on the heels of the big six framework, this weekend you think if they were on the same page, trump would have been tweeting about taxes. of the 20 or so tweets this weekend, not one was on tax reform. housek the speaker of the
and majority leader mcconnell are hoping they can still drive through tax reform even with a distracted president, but absolutely makes it easier to pass things into law when everyone is on the same page. shery: since i arrived in the u.s. -- [laughter] issues have continued to change. one week has been about health care and the next week has been tax reform. this week is disaster relief. puerto rico and now las vegas. what is next on the president's agenda? where do we expect him to focus his energy as you mentioned? it's important for congress to pass legislation. where do we see him headed next? is it going to be daca? libby:i think the house an senate leaders really hope the focus singularly is on tax reform because they need the support of his bully pulpit like
maybe scaling back. this will be politically difficult for these numbers and they need their president to provide some cover. that they willly be focused on tax reform, but things come up. this is what being the leader of the free world so to speak is. it means that you're dealing with domestic crises and geopolitical crises. your focus might be severed from the issue at hand. david: with the leaders in washington right now, we quoted jim brady a la liga. -- a little while ago. is at the heads of these committees or the folks on the big stage? libby: certainly the ways and means chair and the senate finance chair are very important, so the speaker ryan and mcconnell. after the most important and the hardest thing that will have to do is get 50 votes in the senate. senator rand paul, senator collins, senator mccain, senator
corker -- those folks are going to be necessary to get them above that 50 threshold to pass a bill and to get that signed into law. watching them and watching their statements is going to be absolutely critical. david: great to see you and think you for coming as always. that is libby cantrell. shery: coming up next, the wynn resort in las vegas implements new security measures following sunday's mass shooting. why it could offer a glimps into the city's future. we will bnext, especially when s to security measures everywhere else in the other casinos as well and their global headquarters. this is bloomberg. ♪ . .
casinos to rethink their security measures. joining us is chris paul mariam. what changes that we seem put in place so far and with the city feels like on the day after what happened yesterday? >> the most immediate change i saw was that wynn resorts was checking bags and using metal detectors on people before they entered any part of the hotel. the only casino i can see doing that on the strip. steve wynn has always been a leader in the industry i spoke to several casino experts who said that maybe where the industry goes, much tighter security, because i lost you prevent someone from bringing guns into a hotel like this person dead? the mood in america's party capital is pretty somber. is the start of a global gaming expo, the largest tradeshow for the casino industry with 26,000
people from all over the world. normally steely casino executives jumped up in public addresses and meetings are canceled and rescheduled and topics refocused to address what has really been a tragedy here. shery: the businss lead you spoke , what did thetell you about reconciling, keeping guests safe and not restrict in their freedom? -- not restricting their freedom? chris: there's going to be trade-offs. it took longer to get into the wynn, because there was a line. below is a little less busy, i can not be sure to contribute that to the security. it's happening at a time of transition for the las vegas casino industry, and they tried to get people out of the casino
and created these experiences, sporting events, concerts that attract younger people in particular. as they make the shift, and have to rethink their security. already one of the tightest regulated businesses in the world, and now they have to think about the outdoor environment as well. david: you mentioned the change of casserley -- security at the wynn casinos. what are they saying about what changes may come yet? ,es to las vegas in the strip but more broadly when we talk about entertainment venues in this country? chris: one of the big wake-up calls with this is the shooter younot the concert and so have to think more realistically. like the secret srvice in terms of the talls and all the avenues of attack and do that groundwork before an event
and after an event. spotters, theams, presidential visit. shery: are they talking to and more people and security personnel? are they hiring more people? chris: right now, the only fallout -- call out is for grief counselors. i certainly know that a lot of meetings and there will be many more in the future to address the security issue. david: thanks for your fine reporting, chris paul mary -- palmeri. mark crumpton has more. mark: house speaker paul ryan says there is no plan for the house act soon on a national rifle association backed bill to ease regulations on gun silencers. paul ryan was pressed on the
legislation today in the wake of the mass shooting in las vegas that killed 59 people and wounded more than 500 others. focused on passing the budget and we are bringing the budget up this week. reason we are bringing the budget up this week as we want to pass tax reform because we think it's one of the most important things we can do to improve people's lives. that's our present focus. mark: e-house panel pass the house wasmonth and excited to move ahead. britain's pregnant -- brexit minister says he is confident, but still planning on the possibility they may break down. he told the conservative party's annual conference that britain will be ready for the alternative, if negotiations and without a deal -- end without a deal. >> we want to start -- we will honor our commitment, because we obey the law. but we will do our duty by the
british taxpayer and challenge europe's claim line by line. mark: he said good progress was being made toward the deal, dismissing what he said were liberated accounts of -- lurid accounts of crisis and breakdowns. afghanistan security for his -- forces are engaged for the first time in 16-year-old war. secretary mattis said afghan forces are suffering fewer casualties as they continue to improve. in august, president trump announced a plan to end america's longest war. the white house is weighing the idea of replacing the use of social security numbers as personal identifiers in the wake of the equifax ciber hack. a conference sponsored by the washington post, the white house is cybersecurity coordinator says it's a flawed system that outweighed its usefulness.
hoping to find a better system using modern technology. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. shery: mark, thank you. coming up on bloomberg television, dnc chair tom perez joins us for a live for cirilli atith kevin 4:00 p.m. on "what you missed." former equifax ceo richard smith testifying before congress on a muscle data breach that reveal the personal information of 145 million americans. that's xt. this is bloomberg. ♪
david: "bloomberg markets: balance of power." i'm david gura. shery: i'm shery ahn. gm after u.s. auto sales were released for the month of september. joining us now to talk about jim gains is abigail doolittle. that must have been a pretty decent feet for auto sales. abigail: the stock is another all-time high, q1 positive analyst commentary and today we have new autosales for the month of september up 12% versus the estimate of 7.9%. itretty decent beat and
looks like some of this is on post hurricane harvey demand in the month of august. there were less car sales because of that. sales, even though august was hit by hurricane harvey, it has the largest auto sales area in the united states. we now have two months of games -- of gains with the gm. decline, we also had a pretty strong incentive with extra selling days, smallest helping out. an industry sales may have accelerated to 18.1 million vehicles on an annual basis, perhaps the best pace since september of last year. has been stuckck in neutral for some time. what's changed? abigail: when i think of this stock, i have thought about it
of being stuck in neutral. this is g #btv 2332 and if we go the stock is trading between 32 and down here, right around 16 or $16 to $17. stain --ad lumbee lumpy same-store sales, but what investors really li and what thing to drive this breakout is lots of upgrades recently. bank of america and merrill lynch saying the company is accelerating some of its expansion opportunities, plus, they have solid truck sales. in focusing on the possibility of electric vehicles and seems that all the stars are aligning and we now have gm breaking out of this range. it produces a measured move, it could take gm a measured move to the upside, it could take shares of gm to $50 or higher.
gains may continue. shery: abigail doolittle, thank you. former equifax ceo richard smith answered questions about them massive database breach. he defended executives who sold stock after the breach occurred. collects all the new at the time was there was suspicious activity. >> it could be a breach, right? it was deemed suspicious activity. we had no idea that the pii was that compromised. we had no idea if data was extricated at that time. shery: joining us now is elizabeth deck summer. the executives who did those shares honorable men. tell us some of the highlights.
elizabeth: we learned that echo facts messed up. -- equifax messed up. there were systems in place the companies did not follow in the company was not prepared to deal with the fallout of this massive breach. it's going to be a fame of moving forward as we start to see more policy issues debated to prevent these ranges from andening or improve systems standards in place. the central question is are didn'tules and equifax follow them, or do there need to be better rules and regulations put in place? david: the lawmakers first -- heard,makers' voice is she reintroduced legislation to deal with data breaches. see responsibility
lie? elizabeth: it's a great question. as you just mentioned, the legislation was reintroduced. congress is tried to address the issue of data breaches, specifically around notification and standards. for years now. they haven't been successful. that's largely well everyone can agree, democrats, republicans, in lots of different industries, that something needs to be done -- once you get into the details, the talks break down fast. specifically industries -- no individual company wants to be on the hook or responsible when something goes wrong. you got factions within the tech industry and the banking industry, and within the retail industry. as well as the different committees and members of congress on committees, who oversee those different industries. shery: last week, we were speaking to the head of u.s. counterintelligence, and he was
talking about a different issue, but the point was, when it comes to technology, you never know where technology is going to be in the next three months. it's veryard to predict where thbranches of. -- where the breaches are going to come from. how is a going to get around with this cap mouse game they have to play? think you are right. you talk to any ceo in the industry and they say cybersecurity issues are at the very top of their list of concerns. equifax reiterated that they invested a lot of money and resources into beefing up their own security, as have lots of other industries. i think the issue comes down to whether or not the companies are liable. and what is the incentive for them to fix these issues in advance? and who bears the responsibility when something goes wrong? the systems are changing and the bad guys are out there. their whole goal is to break
into the current system that exists and do bad things. me get back to the outrage from you talk about bearing the responsibility, what's that look like in the context of equifax? mr. smith retiring, as the company put it, from ceo. how are their calls for accountability? elizabeth: their calls for a number of regulatory agencies and law an agencies. there could be fined and consequences in that respect. there are additional calls for changes to leadership and we will continue to see that. , we're the first hearing just getting started. shery: we have three more hearings, when are we expecting to hear what kind of questions he expected to get? lot more of focusing on the basics. who, what, when, what are the
systems of the company has in place and how do they protect data and how are they going to fix this? how are the customers who are affected or could be affected years down the road, what is equifax going to do to help consumers deal with that? there is a proposal around freezing requiring free credit freezes and restricting what information and data all the credit agencies can use during a credit freeze. those are things we will continue to hear about. shery: bloomberg's congressional reporter elizabeth dexheimer on capitol hill. tomorrow,00 a.m. politicians and business leaders gather for russian energy weak i-17 in the highlight of that gathering, president vladimir putin speaking during a panel discussion moderated by bloomberg. the 6:00 new york time. the latest on special counsel robert mueller's investigation
the white house expect it will clear a backlog of requests for special counsel robert mueller. us inn pettypiece joins d.c. today. what do we know of how this investigation is proceeding and what robert mueller is expecting? shannon: in late july, early august right when the special congress -- counsel to the president was coming in, mueller asked the white house for a lot .f documents the firing of comey, the firing of michael flynn, the statement was written by the president about don junior's meeting with the attorneys that trump tower. they requested all these documents and it has been taking ty cobb's office months to produce them. he's had people close to him say he's had very little staff
support. but finally, they are getting close to producing some documents. shery: what's it going to be next for the eller investigation? they assembled a team of at least 16 attorneys. they will have theng from them? documents by the end of the week and be able to put those in context. the next episode be interviewing white house staff. we've been told that mueller has reached out to a number of white house staffers who are at this point believed to be witnesses in this investigation. he will set of those interviews and then once those interviews are completed, you may request additional documents from the white house based on information that comes out. we talked about at times the end easy relationship between the white house counsel anti-coffee was brought in to oversee this investigation and the others that are going on in to the white house as well. any indications that they are getting on better?
and perhaps they were at the beginning? i talked to a person who is familiar with the investigation who said there is not a sense that those bad feelings once they spilled over into the new york times and became public have gone away. particularly the tensions were exacerbated because of that new york times story. we do not have this tension between don mcgann, the white house general counsel anti-count, and was brought into specifically advised the president on issues related to the pressure investigation and help meet the requests of mueller of the special counsel office. it's a quite an interesting position we are in right now with white house is in right now and the fact you have two very high-powered attorneys who report directly to the president having this friction and tension between each other. shery: what is mueller steam when it comes to having to work with e dynamics of otr investigations going on at the same time? we know congressional committees
are having their own investigations. this russian investigation with the congressional committees and mueller has been a cloud hanging over this white house domestically and even more so internationally and how it deals with u.s. international relations with russia and our allies in other parts of the world. there is a desire in the white house by the administration to get this investigation results quickly because they feel it will exonerate them cloud off of the administration so they can go on to doing the other things they are trying to accomplish and focus on things in the west wing that don't have to do with russia, because right now is a lot of strange us personally on the staff who are being pulled in an interview done tens of thousands of dollars of legal bills they are facing. david: bloomberg reported a focus of this investigation rests on social media companies and facebook, admitting that
many ads were purchased by a russian troll farm. on the -- what is the latest on the investigation into social media and the role of played? shannon: they are heating up their focus on the social media aspect and we reported also the dots a major focus -- that that is a major focus of mueller's investigation. you have mueller looking at the white house, asking the white house for specific documents, you also have other key characters being investigated -- paul manafort, michael flynn, and the social media element in the ea is was the any involvement between the campaign in russia and this micro-targeting on social media. it's a very broad investigation of this point i don't think we can really say at if one aspect of this investigation is taking precedent over another. they seem to be all on tracks moving forward. david: shannon, great to see you. shannon pettypiece joins from
the bureau and washington, d.c. shery: you can find more on youmberg politics.com and can get the latest in your inbox every day. dnc chair shopper rose joins with a live interview with our chief washington correspondent kevin cirilli at 4:00 p.m. on "would you miss"? david: you can catch all the interviews on the bloomberg with the function tv , and you can watch breaking news, charts, and related functionality for the course of that program and at the bottom left you can ask questions. tv on the bloomberg. this is bloomberg. ♪
scarlet: we're live in bloomberg world headquarters in new york over the next half hour. you're the top stories we are covering from around the world. issident donald trump assessing the damage and recovery efforts after hurricane maria. the visit took couple of turn the he said that aid to island's throwing the budget is little out of whack. think is ceo larry concerned about trump's proposal to end a state and local tax reduction. he says this plan will expand deficits. more on that expose of you just ahead. equifax coming under sharp criticism on capitol hill. richard smith, the former ceo play defense is lawmakers grilled him for three hours over the company's actions and miss actions. u.s. markets close in about two