joining us tonight is kevin hasset the chairman of the president's council of economic advisors, and it is great to have you with us, kevin. >> great to be here. lou: this proposal, you had an important part to play in its formulation. the idea that an immigration plan, a border security plan could generate economic growth, that's a fascinating concept and i think perhaps an unheard of economic impact statement on a border plan, an immigration plan in the country's history. >> right, well, you know, the president as you know all the way back to the campaign has said that we need to switch to a merit-based system. and he was right. he also said, you know, the politicians didn't design this plan. well, he's a politician. he was in the middle of it all, but he did tell the border security guys to give him their best advice, and on the legal immigration side, he told us that at the council of economic advisors to look at best practices around the world and think about what immigration plan could maximize economic growth here in the u.s. we think if the president's plan became law, that i

here's what kevin hasset said last night to erin burnett about walmart. >> do you think the cfo knows what he's talking about. >> you go up and down the aisles, there are a millions of things and some products don't have close substitutes but a lot of them do and in the end it's empirical question, which is dominating, i don't think uyou can say the tariffs caused this. it's not in the aggregate data. >> clearly white house strategy to down play what will be a consumer effect of these tariffs. walmart is not the only retailer warning tariffs will hit customers. macy's wednesday said it will raise prices on some merchandise because of the trade war. stanley black & decker announced plans to move production of craftsman wrenches out of choin and back to the u.s., building a new plant in fort worth, texas. opening in late 2020. stanley said the fort worth plant will employ 500 full-time workers and it's going to be a high-tech plant with all kinds of cool technology, robotics, an upgrade from the lower tech plant. >> thousands of jobs because of the automation. >> moving to other countri

here's what kevin hasset chairman of the economic council said last night about walmart's announcement> doesn't the cfo of walmart know what he's talking about. i don't think he's going to say prices are going up, unless they're going to go up. >> there's a million things and of course there are going to be some products that don't have close substitutes, but a lot of them do. which is dominating. if you look at inflation, it's been decelerating. >> you think he's got it wrong? >> it's not in the data what he's saying, not in the aggregate data for sure. >> clearly the white house wants to down play the notion that consumers are going to pay the price for the president's trade war. walmart isn't the only retailer warning tariffs will hurt consumers, macy's will raise prices on merchandise because of the trade war. on the other side, stanley black and decker announced it plans to move production of craftsman wrenches out of china and to the u.s. building a new plant in fort worth, texas, that will open in late 2020. the tariffs make it profitable for them, more profitable for them to ma