robert: they kicked that down th road, cayla, but they haven't addressed immigration. what's your read on the nextep or a possible dreamer's package? willakhe moderates crole? will this be another leadership deal? >> we hea senator jeff flake saying there is a deal even though we haven't seen the contours of that actually get agreedo. but what struck me this week is you heard mitchcconnell and paul ryan say that they would move toward an immigration debate and regular order on immigration, but not guaranteeing any outcome. it seemed that they were hedging their bets because they didn't c want tomit to actually agreeing to a package because they don't know what the president will support at this time. that's something that speaker ryan said again and senator majority leader mitch mcconnell doesn't know where he can get the vot. robert: can they have leader schumer and mcconnell hatch another plan on immigration? >> i think top officials at the house are going to be deeply engaged. e vice president and as well as john kelly. although he's had a rocky week. we've seen thi

the s&p 500 fell 156789 cayla tausche starts us off tonight with a closer look at the central bank's latest plan to keep raising rates. >> reporter: the federal reserve's january mting was the first since tax reform passed. that's one big t reason fed pointed to a stronger growth grout look than before. business may use the money to grow and add capacity even though companies are deciding how to al skate their savings. while the fed of upside risks from that growth. the white house chief economist doest expect the economy to overheat. >> what we have here is a supply side stimulus which is going to increase supply and i think allows to grow without getting inflation out of control. >> reporter: the feral reserve plans to raise interest rates gradually this year and next and says for now that strategy remains prriate. the market treating the minutes from this fed meeting the first of eight t ts year as leaves for the new fed's direction. et moreestors will information next week. the newly installed fed chair jayowell will be testifying in front of congress twice. >> i think jay powell

we go to cayla toushy. >> in the blue print, the new chair sticks to the script touting data base decisionsa strong labor market, and inflation that is moving toward that ever important 2% target. it should be noted that in this report the majority of fed members said they saw inflation at that target by 2019 and stabilizing at that target over the next few years. they did say that they're monitoring the effect of online retailers and international effects on that inflation level over time. for unemployment, the fed report said that hourly wage growth has been moderate but the labor market is near or a little beyond full employment at this point. for 2018 and 2019, the median estimate is 3.9% ticking up to 4.0% in 2020 as for the markets, the fed report pointed out that notwithstanding recent weeks, that is the mention to volatility that we've seen in the markets that equities remain higher and bond spreads have been narrowing this fed report echoed the minutes we saw on wednesday saying that valuation pressures remain elevated, specifically in equities and in commercial real estate they sa

so thank you, robert >> thank you >> we have breaking news on trade policy we want to get to cayla inhington. she has that for us. >> hey, david. later this morning we're expecting the commerce department to publicize some of the recommendations that its made to the white house on this multimonth investigation into steel and aluminum imports or what the white house called a steel and aluminum dumping this report concerns both steel and aluminum but we have obtained from a source with knowledge of the proposal some of the these recommendations on the aluminum industry according to this source, the commerce department has recommended to the white house a 7.7% tariff on exports from all countries. a 23.5% tariff on all products from china, russia, venezuela and vietnam. and import quota on all countries, that is a maximum of 86.7% of all countries, aluminum imports to the u.s. as of 2017 some of the most important information will be which countries are exempted that's the information that we are still hoping to obtain butthese high level numbers ar going to be extremely impactful for th