and join in for michael gapen later in the show. you're watching cnbc, first in business.orldwide. your business needs better technology to drive better performance. so you need it to be reliable and fast. really fast. introducing the comcast business summer savings event. fast internet speed to drive performance, plus cutting edge wifi for your employees and customers, and voice mobility so your calls find you wherever you are. get some of our most advanced products at a great price with over $500 in savings. call today and ask how to get these savings plus a $250 prepaid card. comcast business. built for business. >>> good morning. fed in focus. the market looks desperately from direction from fed officials gathering right now in jackson hole. >>> and ignore at your own risk why putting off yourm iphone software update could get you hacked. it's friday, august 26, 2016 and you're watching "world wide exchange" on cnbc. >>> good morning and welcome back to "world wide exchange" cnbc on a friday. i'm sara eisen along with dom who is in for wilfred today. >> it's new music

covering the economic angle for us is michael gapen. chief economist at barclays. good morning to both of you. >> thank you. >> why don't we star with you. where do you think the fed stands. we mentioned 60-80% chance they raise in september. >> we never left september. our view was september or never. if labor markets were rolling over moving to december department make sense because i felt you'd never get there. if the april may data was a fluke, they would be right back looking at september hike. if you get a good number, we can debate on what good means. if you get a good number, i think they'll go. >> charlie evans out there morning how he thinks the economy is likely to slow down and a bad time to be raising rates. how much does something like that matter in this debate. >> there's certainly a core within the committee and charlie is one of them that would prefer to say let's wait. make sure inflation is 2%. gin up a little demand before we go. that's a minority view. i think yellen's comments were pretty clear. labor markets will move on forecast of inflatio