Steve Schwarzman is in charge of about $300 billion, he has fingers in every financial pot in every part of the world and he is currently heading up President Trump's Council of CEO Super Friends, so if anyone knows what's going on, it's The Schwarz.
So it was pretty canny of Bloomberg to speak to him after his meeting with POTUS this morning (we assume they lured him across the White House lawn by putting crab legs under a box and then propping that box up with a stick and then tying a string to the box), because it's high time we got some clarification on key campaign promises from the chaos chamber of non-information that is 1600 Pennsylvania Avenue.
And here's how Trump's most trusted CEO (who isn't Jack Welch) reassured us all that the president will follow through on his pledge to officially designate China as a currency manipulator:
The Trump administration is expected to issue a report in mid-April that will include a determination on whether China manipulates its currency, the renminbi. “I would doubt that would happen,” Stephen Schwarzman, Blackstone Group chairman and chief executive officer said Tuesday in a Bloomberg Television interview.
Schwarzman said China didn’t come up Tuesday in his meeting with Trump and five cabinet secretaries, or in the CEOs meeting.
Well, what about that subject so near and dear to every billioniare investors heart; tax reform? Are we going to see that even before August like the White House has said since Trump has finally set aside health care reform?
Trump’s plan to overhaul the tax code, meanwhile, will follow “a more deliberate, logical approach than trying to pass health care in 17 days,” Schwarzman said. “That is not going to happen” for the tax plan, he said.
But Steve also gave an interview to CNBC in which he took a question on economic nationalism that he managed to wriggle free from by pivoting to spouting pablum about infrastructure, but not before the network slapped this on the screen and made Tony James throw a paperweight through his office flatscreen:
So all in all a pretty standard Tuesday.