jan hatzius will be with us to give us his take on the economy and fed policy going forward. that's coming up on "closing bell." happy friday, everybody. bring us your aching and sleep deprived. bring us those who want to feel well rested. aleve pm. the only one to combine a sleep aid... plus the 12 hour pain relieving strength of aleve. be a morning person again, with aleve pm. hello. i am here to offer sophisticated investing strategies. my technology can help you choose the right portfolio. monitor it. and automatically rebalance it. all without charging advisory fees, account service fees or commissions. that may be hard to compute. but i'm a computer. so trust me. it computes. say hello at intelligent.schwab.com >>> a stumble for stocks after a strong week overall. the only sector in the green right now is technology. google a large part of that story. worst performing sector is energy. utilities getting hit. lower yields. also lower prices of crude oil. >> best buy down the most in six months today. bank of america downgrade edd to underperform from a buy rating. the fi

joining us now exclusively is jan hatzius.ng to change expectation sns. >> i don't think significantly. our own expect tagation is that december is the most likely liftoff date. september is a possibility. this report doesn't really change that significantly. it was a mixed report. some aspects were a little more conducive to a rate hike. that's the drop in the unemployment rate and the drop in broader measures of underutilization. there are some questions about the statistical reasons for that, because it was driven by a sharp drop in labor force participation. with he no we know sometimes those moves month to month were a little noisy. there were some weaker aspects as well. >> is that a surprise in terms of wages? >> it was a little lower than we thought. we are looking at all of the different wage indicators. we are seeing tentative evidence of acceleration but this was a step back. >> can you frame the 5.3 unemployment rate. it is a seven-year low. >> yes. >> how much lower can it get until we get to full employment? is 5