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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The single best idea

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Speaker 1: on a Monday. We'll keep it short. It's incredibly busy week.

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Speaker 1: We have all the major earnings, Apple, all the rest

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Speaker 1: is you know, we're not part of it. Umpteen trillion

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Speaker 1: dollars will report this week and give no guidance forward

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Speaker 1: given all the insertin around. We have an early jobs

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Speaker 1: report on Friday, and then beginning Friday we go to

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Speaker 1: the Miami Grand Prix. The F one Grand Prix comes

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Speaker 1: back from the other side of the world and goes

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Speaker 1: to Miami. So it'll be just an interesting time plus

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Speaker 1: all the politics. Mister Bess and I believe in a

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Speaker 1: press conference tomorrow he certainly moved markets today and CNBC

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Speaker 1: and Fox and you know we watch that observed it

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Speaker 1: to see the markets go from red to green. At

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Speaker 1: least for now, I should say they went from read

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Speaker 1: to green. Robert Kamplin with us. He is the vice

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Speaker 1: chairman of Goldman Sachs is the former president of a

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Speaker 1: Dallas Fed. Someone that beautifully links the business world to

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Speaker 1: the economics world, the FED world, and also back to

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Speaker 1: the heritage of the University of Kansas. Robert Kamplin on

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Speaker 1: Washington and DOGE.

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Speaker 2: The nub of the issue right now is it's unclear

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Speaker 2: how much costs savings we're getting out of DOGE okay,

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Speaker 2: And I think that's part of this discussion, and I

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Speaker 2: think they're still a little bit wetted that we're going

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Speaker 2: to get the offset. We're going to get revenue from tariffs,

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Speaker 2: and that'll help us in the de leveraging. They'll help

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Speaker 2: us justify bigger tax cut. And I think all the

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Speaker 2: studies I've looked at have shown that every dollar of

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Speaker 2: tariff revenue you get, you give it back a portion

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Speaker 2: of it in terms of lower growth and damage groups.

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Speaker 2: But that's the key to I think why they're clinging

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Speaker 2: to these tariff tariffs at higher levels, not at zero,

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Speaker 2: and I think they may be better served letting go

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Speaker 2: a little bit on that concept.

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Speaker 1: And a touch on there. I'm really focused on the

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Speaker 1: growth changes, the growth dynamics that we see off of

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Speaker 1: this moment of a tariff trade or special Shout out

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Speaker 1: to David Gura up at AUTO. I had a lot

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Speaker 1: of fun with it, but you know, I did some

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Speaker 1: research on a gut and though I believe it is

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Speaker 1: across the river from Ottawa, seventy one percent French speaking

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Speaker 1: is a population and really only only I believe eleven

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Speaker 1: or twelve percent English speaking is we forget about the

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Speaker 1: bilingual nature of Canada and all of that heritage. We'll

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Speaker 1: have coverage of that tomorrow. And again, what an out

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Speaker 1: end of April we're into. May second, excuse me gasping

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Speaker 1: over Stephanie Ross's number for the jobs report. We were

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Speaker 1: at two hundred something last time. The survey is one

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Speaker 1: hundred and thirty thousand non firm payrolls, and Stephanie Roth

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Speaker 1: at Wolf Research is at ninety thousand, nine zero this Friday.

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Speaker 1: Let's listen.

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Speaker 3: The thing that we haven't really talked about yet when

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Speaker 3: it comes to labor market is we also have a

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Speaker 3: significant reduction. From an iggration perspective, there's going to be

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Speaker 3: conflicting forces on the unemployment rate where you have the

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Speaker 3: slowdown in the economy putting upward pressure on the unemployment rate,

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Speaker 3: yet a lot of jobs apply reducing because of immigration

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Speaker 3: putting downward pressure. So that's why the unemployment rate is

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Speaker 3: not going to rise as much in our forecast versus

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Speaker 3: what it would otherwise be the case.

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Speaker 1: Stephanie Wroth there on the dynamics, really sophisticated dynamics of

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Speaker 1: how Michael McKee and others come up with the unemployment

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Speaker 1: rate given reduced immigration and increasing actually increasing joblessness as well.

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Speaker 1: We're on your commute across the nation. Good morning, ninety

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Speaker 1: nine one FM in Washington, ninety two nine FM in Boston,

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Speaker 1: and Bloomberg eleven three to zero, and around the world.

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Speaker 1: Good morning on YouTube as well. We're out on YouTube podcasts.

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Speaker 1: This is the single best idea