steve leishman has a rundown on what we can expect. >> expecting a quarter point increase to a new range of 173 to 2%. there is other stuff going on that might put a hawkish till on the fed's commentary let me go through those. one is the quarter point hike. we might get to a consensus of possible four hikes beine consensus for this year. inflation was higher, both the ppi and the cpi was higher and unemployment lower since the last time the fed met. also some of the guidance, forward guidance change. i don't know about this meeting but it is certainly on the fed's mind and we expect commentary on that from the chairman's press conference one upward revision is a three move the median. let's check. august and november it goes down those are non-meeting months there is that talk of an additional press conference out there. that's why because it doesn't want the market to not price in the possibility of rate hikes. that's potentially hawkish depending how it is characterized to the markets it could mean 25 or 50 basis points all this extra hawkishness of rate hikes if all of this stuff hap

they will end the bond buying program by the end of the year our very own steve leishman is trackinge will check in next. we will check in next. stick aroundmed - and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see. what adding futures can do for you. >>> a judge approving at&t major acquisition of time warner,.com cast expecting to be bidding >> this is the likes we haven't seen in a long period of time. >> the federal reserve raising interest rates to a range of 1.75 to 2% >> the economy is in good shape. we are trying to sustain that expansion, keep the labor marks strong and right at 2%. >> welcome back, everybody, let's get to steve leishman at cnbc headquarters. he is monitoring mario draghi's conference >> one, they will taper quantitative easing beginning in october, now doing 30 billion euros taper it down to 15, october, november, december, ending it in december. two, going to reinvest the proceeds from that paper it holds until well past qe that's something that eases the effectiveness

steve leishman who does not overstate numbers, he's now at 3.7 for the current quarter.u read the papers every day, you watch cnbc. you know that what the people were saying about the possibility of us getting back to 3%. now you had some people that were in the obama administration like larry summers or jason ferman, so they didn't want to get back to 3% the democrats don't want to get it back to 3% necessarily under this guy here we are. now the narrative it was a stimulus with the tax cut. it's going back to the base level. i heard in 2020 they are talking about it it will be 1.5%. they're acknowledging we may do 3% this year it was a sort of a sugar high a one-shot deal. is it possible we are in a permanent higher growth rate now from this? do you think >> nothing is permanent. but i do think that it is a kind of a goldilocks economy now as these two gentleman just said. if you look at all the indices, they look very favorable i think 3.7 and beyond is above where we are going to be i think we will be close to 3% in the second quarter maybe 2.8 to 31 to 3% for the ye