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I’m told that Treasury Secretary Scott Bessent and Chinese Vice Premier He Liefeng will speak by phone today to discuss the ongoing trade negotiations between the United States and China. I don’t have details on timing or content of the call, but it’s is notable that it is happening.

Weekend.

EXCLUSIVE, from me: Mystery of former Federal Reserve Governor Kugler's resignation deepens: www.cnbc.com/2025/09/05/t...

EXCLUSIVE, from me: Mystery of former Federal Reserve Governor Kugler's resignation deepens: www.cnbc.com/2025/09/05/t...

Stand by for Fed news.

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A White House official confirms to me that today’s multilateral leaders meeting is over.

I misspoke when I said earlier Zelensky wore a suit to his address of Congress - as you can see, he did not. My apologies. www.nytimes.com/2022/12/21/u... via @NYTimes

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Heres my full exclusive interview with Treasury Secretary Bessent in Stockholm this past hour. I sat down with him just after he got off a phone briefing with President Trump on the outcome of today’s China trade meeting: www.cnbc.com/video/2025/0...

Stockholm is really something this time of year…

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Fascinating essay: raises the prospect of extraordinary, unprecedented economic growth with benefits from AI concentrated in very few hands and enormous, society-warping changes for everyone else. What do you think: is humanity equipped to handle this? www.economist.com/leaders/2025...

I’m told by two sources familiar that President Trump met with billionaire Jeff Bezos at the White House last week for more than an hour. No details available on topics discussed between the two men, but clearly there’s a lot to talk about.

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The question to ask the FBI on the Epstein scandal is not whether or not there is a “client list” or “files.” It’s about the video we know the FBI confiscated from Epstein’s homes. The question is this: Are there any men other than Epstein in the videos, and if so, who are they?

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Yeah. I have very mixed feelings about this, given that my dad was shot and wounded while covering that story. But the locals clearly need the money. And there are important historical lessons to learn in every generation about where absolute loyalty to a charismatic leader can lead.

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We were talking about the cautionary tale of Howard Hughes on @SquawkCNBC this morning: a billionaire aviator playboy on the cutting edge of technology and defense, who descended into paranoia and drug abuse. Seems potentially relevant again!

President Trump’s Tesla is still parked at the White House as of 8:45 this morning …

A senior White House official tells me President Trump and Chinese leader Xi Jinping are likely to have a direct conversation this week. I’m told the call will come “very soon,” but probably not today.

Controversial opinion: Rogue One is the best Star Wars movie. By a lot. And I say this as a guy who watched the first one as a five year old in the back seat of my parents’ VW Beetle in 1977.

Weekend.

AI is going to have social and economic consequences the size and speed of which we can’t even imagine: (From Axios) Dario Amodei — CEO of Anthropic — has a blunt, scary warning: AI could wipe out half of all entry-level white-collar jobs — and spike unemployment to 10-20% in the next 1 to 5 years.

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Just spotted NY Mayor Eric Adams in the West Wing. He said his meeting with President Trump is over, but didn’t offer any details on it.

On that Punchbowl story about the president pushing for a tax hike on the highest bracket, a source familiar with the President's thinking now says this:

Reporters are gathered and waiting for the 10 am WH trade announcement- which is clearly running late. I was told about an hour ago that details in the agreement were still changing, and no information was final until the actual event. So that could explain the hiccup here.

I’m told UK PM Keir Starmer will be participating in the Oval Office announcement remotely today. Maybe by video or speakerphone. But he’s not in Washington today.

Weekend.

Thrilled to see that my investigation into Russian insider trading on Wall Street, called “Putin’s Trader,” received an Emmy nomination today! It’s a story involving spies, hackers, oligarchs, American cops on the beat, and a luxury ski trip in Switzerland that didn’t go at all according to plan.

WH press secretary Karoline Leavitt statement on a media report that National Security Advisor Mike Waltz could be leaving the administration as soon as today: “We are not going to respond to reporting from anonymous sources.”

I asked Stephen Miller if the White House is considering the US Chamber of Commerce’s request today for small business tariff relief. The Chamber says that’s necessary to save small businesses and stave off a recession. In short, Miller said no.

Important story from the NYT this morning: The President running a crypto operation with largely anonymous offshore investors at a time when he regulates the industry is a huge red flag that you can’t imagine being tolerated by Washington or the public in any other era.

Really interesting comment from Howard Lutnick in his interview just now with @SullyCNBC . He said: "Treasury Secretary Bessent is focused on China. That's his that's his portfolio. He's got to get something done with China. And my portfolio is the rest of the world's trade deals."