nouriel roubini tells us and may not happen as soon as we think. saudi arabia's king salman's meeting with president obama at the white house for the first time since he became king. we will hear the items topping the agenda for the two leaders. and maybe 4th be with you -- force be with you. we will be joined by the genius, the brains behind all of the star wars toys. story, the jobs report, adding 100 73,000 jobs in the month of august and the unemployed rate fell to 5.1%, a level many believe the fed considers to be full employment. stocks selling off on this news as investors worry this could mean the fed will raise rates when they meet in two weeks. joining me now is very banister, equity strategist. he lowered his year-end target earlier this week to just 2200 from 2350. we are still well below 2000 right now. barry, thank you for joining us. does today's report bolster your case for lowering your forecast? >> august in the last four years has seen the most upward revisions in the next three revisions of the data, so i would expect this numbe

nouriel roubini was with us earlier today.ed about how he thought inflation was a bigger factor for the fed than jobs -- than the jobs outlook. i want you to hear what he said about that. nouriel roubini: on the labor criteria and job creation, things are confirmed to be positive. but there is now reasonable doubt the fed may not be achieving in the short run its own objective of 2% inflation given the international development. that could be the factor rather than the labor market keeping the final hold in september. betty: does that sound right, that inflation could be a bigger factor? >> on this particular topic, you have to listen to stanley fischer, the vice chair. he told us two things. he said they will not wait until inflation is at the target. if they wait until inflation is at the target of 2%, it will be too late. the second thing he told us is he is confident inflation is coming back in. today's numbers were encouraging. that is a positive part of the report. right now there is not the inflation, blinking yellow si

dr.than: nouriel roubini, doom, talking about when the fed will move depending on the big labor markettoday. if there's a fed official has not decided maybe the report today will put them over the line. let's bring in a man who's not dr. doan. he is the opposite. manus cranny. manus: a discussion on what you were saying before. i love nouriel. he did not waver through that. it is all doom and gloom. jonathan: with a tie like that? manus: we have an interesting lineup. we have a former ecb lead, jean-claude trichet. jonathan: another thing about policy mistakes -- who cares about mistakes that you've made. i would like for him to answer questions. jonathan: all 15 major central banks have hiked rates, the ecb being one of them, had to reverse course. up to one third who have raised rates have reversed and that is the risk the fed runs. the fed is looking up policy for the united states. i was corrected on the pulse. it sets policy to the united states and exposure to china is limited. correct, ig to the will have a go at correcting you. upathan: manus cranny coming after the break tryin

dalio say -- he is channeling nouriel roubini. michael: the big move would be to bring in additional qe. do you think qe works anymore? ray: it will work a lot less than it did last time. we will have a downturn and the downturn should be worrisome because we do not have the spreads. qe is the purchase of those assets to get the premiums up. when you keep pushing and you buy more bonds, if there is not an attractive investment relative to bonds, if there is not much spread in something else, you get less effective monetary policy. we call that pushing on a string. we are not there yet, but we are closer to being there. europe is there. michael: they are pushing on a string? ray: what are you going to buy in the way of bonds? michael: you cannot buy a german two-year. ray: the effectiveness of monetary policy comes through the currency. when the person who is receiving the cash has to do something, it is there -- there is a pressure to move it out to the country. if you look at us, we have very high rates in the world by comparison

big picture, nouriel roubini saying that the fed won't because he is worried about global growth storywing, china being a big factor that that in fact could factor in. what do you think about that? >> i don't often agree with roubini because he operates at fringe. in this case i do. i think the fed is worried about the volatility. i think they're worried about the psyche out there. i think they're going to make a conclusion, you know what? things are so wild out there, we can do this in object. so we don't have to do it in september. we can wait a month and see if things calm down in that case- nicole: gary, 10 seconds left, 25 basis points or 50 basis points if they dot hike? >> 25 basis points in october. >> he actually did a real change. >> unless they don't. nicole: you want us to rewind in case. gary b. smith, thanks so much. >> you're welcome. nicole: appreciate you got up with us. be sure to watch "mornings with maria." maria bartiromo complete coverage of august jobs report, market reaction, starting 6:00 a.m. eastern time right here on the fox business network. >> all right. l

nouriel roubini is weighing in on when the fed will pull the trigger. s don't hold your breath for a september hike. nouriel: i do believe the fed is not going to hike interest rates in september but there will be a rate hike in december. i do not think they will wait until next year. manus: german factory orders fell more than expected in july. signal of the recovery in germany is a bit bumpy. over to spain now. one of european economies hardest hit by the international financial crisis. august data has shown arise in unemployment for the first time in six months. in a bloomberg is was it, francine lacqua spoke to the spanish economy minister about the spanish recovery. luis: you have to bear in mind that the crisis in spain was tru ly profound, extremely long, extremely painful, and had an impact on the evolution of the markets in 2009, spain's economy lost 1.5 million jobs. it had to do with the relation of the spanish economy, the developed market relation. and it has to do with the weight of construction in spain's economy. construction, labor in te

morgan chase and we will also .ave nouriel roubini they will weigh in on what the fed should do and whenguy: with respect to turkey, having a conference on the shores of lake como wins it. enjoying the italian lakes today. mainland markets remain close today. -- closed today. they closed for a second day because of the commemorations of the end of these second world war -- the second world war. open, perhapss some investors which they were not. -- wish they were not. it is being supported by a pickup in a number of commodity somes, we have seen picking up. china is closed for another session, but the market here in hong kong opened after its one-day public holiday. index -- aise visiting mainland shares owned by foreigners and institutions has resumed. it has slumped by 2.6%. it is now down 14 out of the past 15 sessions. we have a raising yen in japan, it is weighing in on the overall nikkei which is down 2%. this is the picture of the asia-pacific benchmark ridge index. you can see in late trade, every sector is lower, even oil and gas. it is down 1.4%. we are seeing telco heavily sold