world bank out with a new warning about gloeblg growth speaking with the world bank president david malpass>> mike santoli. joining us to talk about the fed and the economy is seth carpenter from morgan stanley. mike, what are you focused on? big rebound. do you believe it? >> it's actually doing what it is supposed to do to make the case that this is just a routine pullback for the whipsaws in the sector that is we didn't get to a 5% pullback yesterday before that dip buying reflex kicked in. there's an enough recovery mode in the market. big growth stocks and speculate ifr growth stocks to righting ourselves. back up to the 4700 line that was what the bulls were hoping to hold on the downside and to find that upper end of the trading range. just been hanging around there equal weighted s&p underperforming today and has been okay. at yesterday's lows we were really not that far above where we peaked out in september so you kind of bring the trends into play. but the s&p in general has reaseshted the trend for now and basically in the middle at the moment take a look at the nasdaq 100. clea

david malpass is president of the world bank and we are thrilled he could join us this morning. ook at the world bank president, and europe modeling -- you are modeling growth to slow. how fragile is it right now? you and i have modeled stan fischer and other crises. how closed instability in emerging markets are we? david: good morning. i think that is a big challenge. as you slow down, the population growth is still fast in some countries and if you're not getting ahead people look at it and say what is in it for me and that brings us to the physical insecurity we are seeing in some parts of the world. the solution is to grow more and get higher per capita income as well as health programs, vaccinations, education, all that goes with good development practices. tom: is the institutional integrity there, and across the street the international monetary fund, are these nations listening to you as they struggle with the financial challenges they have? david: many countries do listen but a big part of the challenge is the global environment. it is very unequal. people at the lower