. that is 92% for you any. >> tomorrow,pite irschweizer is joining us, we hope you will too, good night from new york. neil: well, that interest rate hike you were worried about relax, it looks like it is not happening this year, i am neil cavuto fed signaling a june late hike is not in the cards and as my friend surmised rates stay likely where they are to the end of the year. you say it is say good thing why? >> well, they are looking at numbers, and employment data is not where they want it to be not the top number, the big overall is 10.9%. they don't like wage data. and lastly, whether we like it or not fed driven by world

events, you saw deflation numbers in u.k. accident over the weekend that is a bad sign, that means our dollar will strengthen and british pound will strengthen that is not good for exporting side of our economy, i don't think that the fed the move any time soon. >> it seemed they were tell telegraphing atelegraphing mood. >> they can't move, paced on where data is, politically there is a will to move, they want to-the nation's savers, right now you are saving at 0%, that is terrible. neil: are they worried about creating a bubble. >> that is interesting we never know there is a bubble until after the bubble has burst.

you look at where rates are around the world not just where fed sets rate but where market is driving rates it does not look like we're in a bubble right now. bull markets do not end in a ex perkingexpiration of length they end in uphoria. neil: borrowing at 0%, and make money on that like shooting fish in a barrel. but you don't think that feds make a mistake keeping rates low. >> i don't. neil: you don't see inflation? in no, we'll look at this 40 years from now have have saying they were masterful at running this. historically it looks like a over played hand by federal reserve. but looking at context of what is going on in world 2.5 billion in western capitalistic

experience they are not just in india and china but in east africa and southeast asia, that onboarding is creating this excess goods and services, factory capacity, and two weeks ago with chairman ben bern energy inbernankein the green room, he said listen in old world looking at way things work, we would be raising rates but not right now because of this dramatic change in what shaping what is happening in globalization. neil: is this music too the ears of hillary clinton? >> yes, and no, likely federal reserve the start raising rates in 2016. >> you think that 2016 is going to happen? >> you will get a 50 base, 2 two 25 basis point moves anything

into the election. i am prone to drama but feds may wait until after the election. i think that data is improving enough it will not happen. neil: thank you very much wall street week. sunday 11 a.m., i am glad for his success but i am recent full it has -- so just because he is italian i'm not saying he like a pal, but if is annoying. just saying. anthony thank you. neil: forget when rates go up but how with more liz an saunders saying they might be cautious, chief investment strategy at charles schwab. what happens?

>> so, you know, i agree with anthony june is off of table fed minutes said that, but i do believe in -- 4 months between now and september. so i would not write is off as done deal. neil: you say possible? >> it is in data. i think there is a misper misperception by some that fed knows what they're going to do. what i think is likely to happen i think that fed to would like to get off of zero bound, that is not going to look like what it did in last cycle in last cycle in mid 2000, federatefed-- raised rates every quarter circle. but that is not the case this time there is a perhaps a one

temporarily done, they sit back and assess impact. neil: a quarter point move? >> yes, i think a quarter point move, but then they pause. neil: what would that do? >> i am not sure it does a heck of a lot looking back at history of fast tightening cycles or slow tightening cycle we have mostly fast tightening cycles, you have to go to late '70s to see a cycle with fed moves slowly, market does better in that environment slow tightening cycle. the other issue if the fed moves for whatever reason market feets they are moving too slowly then you have to watch long end not just short-term rates that are a factor in what the stock market is likely to do but also trajectory of lang term interest rates -- long-term interest rates. neil: all right to your point fed has no control over long

rates. if they inch up it would be largely on fear they feel 23ed fed is not addressing potential signs inflation. >> i think it gets bad if we see upward pressure on wages and the notion of i inflation scare gains track, i don't see that, we're seeing leading indicators of wage increases average hourly earnings is common metric but. costin dex is a better measure -- employment cost index is a boatsbetter measure. if you start to get a little bit of a whiff. and fed opted to hold back that is maybe you could see issues on long end that could cause stock markets problem.

we don't think that an inflation problem is in the cards. but a little bit of a pick up, you never know how bond market will pick up. neil: do they worry you about feeding or fostering a bubble? do you agree? >> i'm not so sure they worry. i think that fed has to concede we have seen inflation in asset prices no question that asset inflation is there. neil: thank you liz ann. >> biggest wild card could be oil. to phil flynn. you don't agree with that forecast? >> i see prices going higher, what fed just did will guarantee that one major factor in price

of oil is been value of dollar. one thing that drove oil prices down other than opec price war is when dollar was on fire. if you bridge bring in that divergence with u.s. interest rates and european interest rates and we say on hold that will give oil a boost biggest factor that goldman sachs is missing they are underestimating global qe . >> you are a genius, a lot of countries are doing quantitative easing. if is inflationary down the road? >> it is. 63% of global banks have lower rates or are printing more money, when they do that, this is -- an attempt to stimulate the economy. what we have seen in past when

united states did qe, third fourth and stimulated oil demand. prices went up. neil: you don't see 45 dollar oil, what do you see? a quick view of gas prices. >> i think oil prices go to rate 080 by year end looking like 2008 2008. when we saw this price crash we saw billions of capital spending cuts which has an impact on output the low prices stimulate more demand, and the stimulus to the economy that is meaning more demand. we'll get caught short. this surplus will probably begun by the end of the year.

neil: all right phil flint thank you. >> thank you. neil: look at this, you see this dude he is trying to rope then drag away a atm . there is an easier way to steal people's money. a atm warning you need to know about.

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cell. but, people are hacking debit card data, they are stealing card data from atm's at the highest rate we've seen in decades, what are they doing? >> they are being is using skimmers they are old piece of technology, that steals card numbers off your debit card. they use the skimmer when we put our card into the atm machine. neil: what is a skimmer? >> just a piece of technology that reads strip on the back of your card, it takes those numbers, therefore they can replicate your card, and set up a camera to capture your movement as you type in your pin code. neil: is that right. >> yeah, they use them to clean you out. neil: what can you do to police or protect yourself. >> here is the issue, the good

guys are always a step behind bad guys with technology. as merchant switch over to computer chip cards atms have not switched to this technology, this last quarter non-bank property atms have a 300% increase in this fraud and bank owned attacks americas are up over 175%. so neil, you have to do is old school stuff cover-up the old pad as you type in your pin code or go inside, maybe talk to someone. get cash from the teller. neil: judge from an actual teller. >> yeah, and you get a free sucker too it's not that bad. neil: they get info from your card not the code, is that a problem for last person that used machine before bad guy does

or does bad guy have all of the cards. >> bad guy sets up a device on the atm itself, for next -- >> it is attached to the asm machine? >> in most cases it is a physical device that is developed -- >> what does it look like. >> to blend it, they are in different forms people had a clean your debit card scraper connected to the top of atm that looked like it was closing, but it was capturing that electronic data, that how people got their money stolen. neil: scary stuff peter thank you. he knows about this stuff. all right. >> for now. for now on calmer things, because they are calmer right now. certainly more calmer than they were a couple of weeks ago in places like baltimore and ferguson riots have stopped.

but this -- suspects that it remains. bishop said time to take advantage of the calm. he has great ideas.

neil: quit fanning the flames start providing some light. how preacher and politicians seize on racial tensions in basically baltimore and elsewhere to make things worse for martin luther king's niece it went back to both sides to trying to keep the peace. and bishop is with us now saying be patient. easier said than done, right. now how do we take advantage of that before the storm. >> i think patience is possible when we see progress. i think if we have incremental

steps of progress that people can quantify we'll see greater patience the frustration is when people don't see progress or hope of coming to a resolution. neil: you say progress, you are talking young african-american male in particular, who feel that the chips are stacked again them? >> i think all, but particular the black and brown people are facing some disparities. it is an over simp weighing simplification to reduce it to race alone. many people get in a quagmire of under employees or unemploymenty . if you serve a federal offense in your past it is forever on your record, you can tell

people, this is america get's job, but they say are you antic fell exfelon something you did when you were 17, and now you are 43, you still can't get a job. neil: the president said, stop with military-type weaponry. you don't need drones or this other stuff if it gets that level, leave it to military. >> as i understand, he was not saying they could have access to it but he wanted approval to get it done. that is appropriate every time we panic we should not come out with tanks in the streets and point it at our citizens. >> i understand that, i have a lot of police chiefs from these communities, they said he is

assuming we're all murderers and we're going after kids, the message is, he has to rein us in he is doing nothing to rein as one said the thugs in. >> there has to be a comprehensive effort, not all fault is on one side to be sure. we have serious problems in the communities that have to be tackled with a multipronged approach. until everyone owns it, and stops saying this is a black problem or a brown problem -- no this is san american -- is an american problem. >> i am wondering what do you tell young men it seems to be focused on young african-american males what do you tell if they are angry and feel victims. >> it is stacked again them, we have to move down from barriers that exist. only thing left for you if you serve time in anyway, you will serve time if you cannot afford

a good lawyer. neil: let's say you are just judged by your skin. before you became a famous man were you ever pulled over because of your skin color. >> absolutely, that is a reality. neil: what did you do? >> you be careful as a minority, not only me but my children. i sat to the floor and cried with my own sons as little boys, they were introduced to racism by the time they were 6 or 7. neil: what do you tell them. >> strong families to tell you who you are. you can't depend on your neighbors, and if you have a strong family you get it at home. neil: what about that mom. >> she looked like my mom. she would have grabbed me byny nose we need those family strengths. but hard to have a strong family if dad is in jail, and when you

have -- we know the stats but we have not done anything about them weakerwehave to do something with what we know. neil: do you think al sharpton over hypes these events. >> he has a role to play, and plays it. neil: that does not answer my question. >> no, i did. i didn't say what you wanted my to say. i think we we have a tendency to demonize people. >> i have no problem with a community going to al sharpton, that is fine, but i think they should go to someone like you who is fair. >> i think it is a tragedy that a black community still has to get to a pastor to getting any done. >> but you know, white and black, you are religious. >> that whole issue that we have

to go and contort a clergyman to a civil right leader to get something done, you have without a fight is the problem. no matter where they go to al, me or they should not have to go to anyone. >> but are you worried that fewer people go to church, they profess belief in god. >> people report say fewer people go to denominations, but not less faith. i think that world has changed. and if you look closely at people pew report suggested that nondenomming deflational churns are growing. neil: have you always had this deep voice. >>al my life, my daddy gave it to me. neil: when you are three. >> i sound like isaac hayes. >> thank you. neil: millennials responding to charlie gasparino who is not near god.

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>> i probably have 5 times twitter followers than the girl with the glasses. >> really? those comments, did not endure charlie gasparino to those millennials, in particular one smart lady, did not do much to win him any fans of national review. and other sites, you know charlie surprise is not apologizing. now some news that could have him reloading. half of college graduate fully expect their family to support them money home or anything else even if mom and dad go to the poor house. some millennials have no problem with that -- no, some insists

that does not make them moochers. katherine, you were the one he was talking about. >> yeah. >> i liked about your her verge you took -- your revenge you took pen to paper keyboard to the internet. and just answered back. >> right. well he claims he has nothing to learn from millennials i teach him phrase is hold my jock strap not wear my jock strap. a wired thing to say. i never claimed to be better than him. >> do you use that language. >> generations learn from each other, and maybe, let's say you know millennials are horrible. moron or not i could think of a better youth out reach strategy.

neil: you know that is what i told him. he does not listen to me. what did you think of his language. >> i think some of those amateur boxers from his youth might have knocked fun out of him. neil: or brain. but what he is saying, is that when he hears news like this, he starts to say your generation -- those kids. you know sponging off their parents, they can't handle it. >> we have to admit the economy is different from 10 or 20 years ago, things have changed college has gone up, but as a millennial, i think millennials need to get out get a job make their own way in the world. that is how you develop independence that work ethic that will keep you above competition in your field. neil: can i introduce you to my daughter. >> i am note sure my girlfriend would like that. neil: all right many

millennials dis agree. >> i am not saying you can't live at home for a while take baby stipes, but this is huge mistake for millennials to rely on their parents for 2 to 4 years, they will never beat competition. >> i disagree. it is nice to have your family support you while you safe money, for example -- >> they don't really want to do it. >> my parents are happy. neil: you seem like a nice young lady. they don't want to do it because they are squandering their retirement savings because they love you to death. >> i don't think squandering anything. i think it important i want to save for a house, i am 26, i just graduated from law school, i want to put 20% down on a house. neil: are you living at home now? >> i am. >> i have not lived at home since i was 17. neil: did they kick you out? >> no, they did not.

bottom line is whatever it is, that can advance your career, if staying at home will help you get further along that is good. neil: you don't judge your pellowpehlfellow millennials. >> if depends why you do it if you are comfortable and you are stuck there this is one thing i slept on a yoga ma in long beach to get a inturn tern ship -- internship. >> there is a difference between living at home for a year or 2 and being supported by parents i hear support you are getting monoamono-- money on raymondly basis. neil: here is rub. i think that every generation, is annoyed biogen the generation before the generation. and i am wondering if that is

what it is about. >> it has something to do with millennials told that economy is bad, if you need to stay home that is fine. a lot of people i wonder if they are scared into staying home rather than trying. >> this is not just a millennial problem. neil: i was around during the depression. >> we need to think about boomers, you talk about boomers it takes two to tango millennials are empowered by baby boomer parents for doing this. >> are you blaming us after all that we've done for you? >> you better believe it. neil: do your parents hate you. >> they love me, maybe not after this. neil: you have a view, that you know too each his or her own but you can't make a sweeping like charlie gasparino did. >> and you are an attorney, right? >> you can't stay home catching television doing nothing. >> do you think he has apple

ground to sue for using language like that? >> i am sorry. >> you hate my. >> if you do not like the way the youth is going on, maybe make yourself a bit more like able to them. >> i have told him that but he does not. he is not a nice person. >> he looks in a mirror. >> we need to battle it out. neil: you are thick-skinned even thousandthough you are all thin. >> so gaspo, if you are watching really? >>ure you planning to move your business to l.a., get ready to pay your lowest worker $50 an hour, it -- $15 an hour, it will soon be the law there. a dry mouth can be a side effect of many medications. but it can also lead to tooth decay and bad breath. that's why there's biotene

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neil: randy newman might love l.a., but i am not so sure about a lot of businesses finding out l.a. city council approved hiking minimum wage to $15 an hour by 2020. councilman bernard parks said it is a good thing. sitting next to him mitchell. only councilman who voted again it saying it will be bad for business and for l.a. thank you for joining us. >> so, englander if i could begin with you. you first why do you think this is a mistake. >> well, first and foremost there are a lot of people living in poverty we do note to help them, but city of l.a. in this policy did not have skin in the

game, we have an opportunity to reduce taxes we have helpingses instead of putting full burden on them to do this. >> all right councilman parks? maybe with best of intensions have you priced out a lot of businesses from your fine city. >> i don't think so, if you look at the district i represent and surrounding areas we led in increasing jobs, that are dealing with the lowest of jobs and lowest pay, you have to look at is the larger issue that there is a need to realize that people in city of l.a., even at $15 an hour, condition live in l.a. -- can't live in l.a. on $30,000 a year, okaying at business tax business tax has

grown each year, and this year, for next budget, we'll hit 500 million for the first time in our history, i think that businesses are flourishing city will look forward to increasing jobs in the area in particular jobs for residents. neil: okay, but considered big wage hikes and approved them in l.a. area case, argument has been where else are they going to go. what could compare to being in los angeles. >> you say this creates an island out of 88 cities, in county of los angeles in last 20 years, we gained a million people, and lost 100,000 jobs, we recovered a lot of those jobs lost in recession, but unfortunately, we recovered them either rat high inand low -- at the high-end and low end we is a lot of under employment in the city of los angeles we do not do a lot of vocational training, thousand trying to put it on

thinnest profit margin businesses to their back, creating a unfair disadvantage to buying business in stay of -- to doing business in the city of los angeles if that assault we do businesses gets tax credits. >> that is not part of this you but, this raises a issue why could you have not been more creative and say to those businesses that hire kids at a starting wage in high school or college, they can be paid in a lower rate. so not so onerous to the smaller businesses that is one size does not fit all. >> i think that issue is that, there is a state law that allows people to pay individuals that are 14 to 18 years of age at 85 percent of the minimum wage. so if they already laws in place to compensate for that not lose the interns and younger people in the. in. amemployment feel.

>> okay you get to $15 and small business with younger workers can pay at that rate. >> it is not $15 it is $16.85 once you add taxes that is not including workers comp, and insurance. >> and san francisco they said, businesses under 500 employees will not have to pay that minimum wage. we have to do something about this but we have to balance their books and make sure we're open for business in los angeles. >> as i mentioned one thing to look at most of the businesses that are small do not even qualify to by business tax. -- to pay payings tax. we can't merge the two issues. >> okay we'll know in next few years how it pans out i

appreciate your time. >> thank you. neil: i know the tiny self driving cars are a thing of the future, but even if they are not all self driving it is clear to me that fat people will not be the ones driving. ♪ ♪ ♪ ♪ ♪ ♪ the ones with the guts to stand apart - join a league all their own. ♪

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neil: tiny is the new big in auto industry, size does matter, and bigger is not better but smaller circumstance especially if the car in question, can squeeze itself into tight spots but the thing is you have to be in shape or not even have a shape, because these things are

so small that even small adults will have a small hard time getting in. what do you think of this technology. >> this is exciting, we're seeing a change in way that people interface with technology that surrounds our lives. you have cars that dreyfus whether self driven or it is traditional way of driving 92 they scare me, they look like electric razors on the road but go ahead. >> if you think about the car that shown there by time mechanics change our way of interfacing will change too there is no reason we need a dashboard or that driver to pull out a magazine, and relax and read it. >> roller coaster cars, great adventure, they unlock, and -- >> i think this a incomplete story of where technology could go.

if you have the way that information is presented to us, control or voice command think about wear able technology like your smart watch we don't need fixed asset we had 10 years ago. >> i don't know rights now? >> i don't think that car is hitting road right now we're seeing. neil: next month. >> i have no idea. >> i -- >> you have faith longer term they will get it done right. >> i do, i think we've seen, my background in military, we've seen the ability for ai control aircraft to have almost no mistakes in landing. these are controlled experiments but this is the start of the right types of technology applied to right types of problem they will give us solutions where we don't have to

be focused on is that driver texting? neil: the fact we hear so much more about the self driving cars and that is here and now. >> yep. true. i think that is coming. it is a question of when, when do we have full package of the technology not just a piece of the technology to do it well. that is where you have policy making sure wire going through stipes to get it right with fewer number of errors along the way. neil: i would never read a news paper in the car. but i guess if you are not responsible. >> if you are being drug behind a chain of 50. >> thank you very much. >> these protestor must be giving congress ideas not in support of higher wages for fast-food workers but higher wages for themselves.

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neil: last time they got a raise

was 2009. and when it comes to comparing their salaries, they are woefuly behind this not wall street, this is washington d.c., and congress. some of whom are pushing for a hike in pay because $1 75 now,000just does not cut it. dennis kucinich agrees. good to have you here, you say it makes sense. >> i think as i remember, i might be wrong, i think 1725. i did quick matthew math, you paytivity 50,000 in tax you have 46,000 a year in cost of living in washington. one of the highest cost of

living. you know, i am not a millionaire, i served 16 years in congress, i understand what happened if someone comes from ordinary background you get there, and unless you are a millionaire you are have two homes, and family, they are not living high on the hog some members of millionaires got that unless you just' millionaires or more represents people have you you have to pay. neil: you make a good point. most of congress is stacked with millionaires. they are doing well. and i know many who you know, share row houses in district because they have homes back home. they save money sleeping in the office. what bothers a lot of americans what are i doing for me for that money. >> that is the bottom line. you and i agree on that.

but, i would tell you someone who spent 16 years in congress, the cost of living in washington is through the roof. and you can't get a rental for that -- you know that decent for under 3,000. >> i thought you were treated to dinner with people trying to buy off. >> not this guy. >> i am kidding. >> i know, we have have to make it clear, ordinary people who want to gets to congress, their expenses are high, they will be struggling you might net city00 a6300 a month but then you have to pay your bills. neil: okay, i get it. let's say we make it 300,000 then people make it a choice now worth a financial leap, when i look at government service it was a sacrifice, but one you were willing to make it is worth

walling and cost. >> it true, at same time, you have to make it possible for people to serve they have to have a place to stay, unless they sleep in their office, you want them to live in a decent housing back home. but they -- but a you said, initially those who serve should have something in common with the people they come from. that is happening less and less in congress, and less -- you know they can bump up pay a bit i don't think that mr. hoyer is asking for anyone extreme, but congress not had an increase in 7 years american people need an increase in their wages absolutely. they need too have their investment protected unless we blake's hold -- breaks hole some of the interest groups have we'll see the divide going on in in where rich get richer and poor get poorer, let's make it possible for average people to get to congress.

>> i see pigs flying right now thank you issue dennis kucinich. >> thank you. >> we'll see you tomorrow. tomorrow. >> a world record car collection. >> he just kept going. he never stopped. >> i believe his goal was to have one of every car ever made. >> a maverick driven to leave a mark. >> he went to the auction, bought the whole lot. >> his family promises to carry out his grand plan. >> i think there was a feeling of dread, relief excitement, and enthusiasm. >> love it. love the hair flowing. the top down. >> but can they fulfill the patriot patriarchs dying wish? >> you don't want that car oil on your hand.