Lowered the Economic Growth outlook. If growth is anemic, dont expect as many Interest Rate increases. Not this year, not next and not even in 2018. That is a big shift in the Central Banks thinking since the fed chairs last news conference. Hampton pearson has more on what has changed and what the fed is sayiow halfway through 2016, fed chair janet yellen and her monetary advisers are still on hold when it comes to raising key short term Interest Rates. We really need to look at the data and pre specify a timetable. So im not comfortable to say its in the next meeting or two. But it could be. It could be. The latest speed bump on the road the Interest Rate hikes, an anemic may jobs report. Part of a mixed economy in the eye of the feds were the pace of job growth has slowed while Overall Economic activity has picked up due in part to increased spending. The market appears to have slowed down. And we need to assure ourselves that the underlying momentum in the economy has not diminished. There is also concern about the future of European Union if Great Britain withdraws. The brexit vote is just eight days away. It could have consequences in turn for the u. S. Economic outlook. It would be a factor in deciding on the appropriate path of policy. The vote for todays policy action was unanimous. With the odds increasing for just one rate hike this year. Policy makers are also lowering their long term trajectory for rate hikes as well. Leading economists now see the fed as losing touch with the real economy. There is no excuse at a 4. 7 Unemployment Rate to have a federal funds rate which is negative in real terms. Between 25 and 50 basis points. No excuse. The visibility of the jobs number earlier this month and the noise around brexit causes them on wait yet again. By the time of the next fed meeting in late july, the brexit vote will be history and there will be another batch of date including another jobs report, also on the table. For nightly business report. Scott joins us now with more analysis on the fed and the economy. He is global chief investment officer. Good to see you again, scott. Welcome back. Thank you. Lets start with your thoughts on what the fed did not do today. They did not move on rates obviously. And you think theyll be hard pressed to even more than one rate hike in. I think so. Yes. Given the weakness we got in the laster employment report, the fed will want to see more than one monthly report of strength. So given what is going on, i think in july, theyre not going to have enough information. And that gets us to the september meeting. When you get to september, that is historically a very rough month for financial markets. The fed has shown us in the past when markets are volatile, they dont like to move. So i think the clock is running out and the calendar is working against them. What i found interesting, i this. It is the projections for rates. They basically saw a downward projection for rates. All the way to 2018. That does be sound like it both well for the economy. I dont think so, sue. I think the fed has been very watchful of the employment market. Theyve been keeping an eye on innation. And even with the Unemployment Rate at 4. 7 , were not really seeing sharp uptick in inflation. Perhaps the fed is worried that unemployment has to be much lower than it was today at 4. 7 . So i think the chair woman was very cheer that she wants to keep an eye on the data. I think it will take more than one or two strong months. . Have the jobs numbers are complicated. You have an enormous number of people who are the quote unquote diskornlgd workers. Those who have dropped out of the work force for various reasons. Does that skew the number the fed has to deal with . It certainly does. One of the things theyve been looking for is the anticipation rate. To bring some workers back into the work forceful in the last employment report we saw, the Participation Rates fell rather sharply. And dr. Yellen has been very clear in the past that bringing these workers back into the work force is very important to her. And so i think theyll try to see the Participation Rate rise from here. And that i think will take a substantial period of lower Interest Rates than where we are today. How important is the british vote next week . As to whether they stay or leave the uk . The European Union . I think it is very important. If the uk decides to leave europe, it will raise questions what other nations might want to leave europe. And it is really going on bring a lot of discouragement to the ongoing existence of the youre dlox if the uk were to vote the leave, i think we would get a lot of market volatility. And we would see european stock much lower. That would spill over into the United States. The other issue we were hearing a lot about today was whether or not the market has lost faith or whether the fed has lost credibility in the market. I think the market is beginning to realize that low Interest Rates are not a cureall for the economy. And unless the Federal Reserve continues to maintain this policy Going Forward, it is making equity prices and others in the market vulnerable to a sudden shock. So i think that the fed is in a trap at this point. Any increase in Interest Rates in the United States will be looked to slow the u. S. Economy. The fed doesnt want food so theyve become a hostage of their own policy. Thank you very much. Always a pleasure to speak to you. Well, stocks gave up their gains following the fed chairs news conference. The Dow Jones Industrial average posting the first fiveday losing streak since february. By the close the blue chip index lost 34 points. The nasdaq fell 8 and the s p 500 was off 3. Inflation is on the radar. We saw that goods and services rose. The Labor Department has more than expected ask the bifgt gain since january. Most of the increase was due to Higher Energy prices. Inflation has been running below the Federal Reserves preferred 2 target. The nations ceos are turning more bullish investment. More plan to increase Capital Expenditures this year. 37 of the ceos of the countrys largest firms say they intend to spend more in the next six months. Up from 34 in the First Quarter. 18 say they man to cut back but thats fewer than the 23 who cited a reduction in Capital Spending in the last survey. An upturn in Business Investment is considered a positive for go long term growth because it improves productivity, wages and profits. There is one industry that will not be spending a lot. That is oil and gas business. A new report from consultant Wood Mckenzie shows the industry could cut 1 trill from spenttures on exploration and development. The reason is that long slump in prices. Worldwide oil and Gas Production has fallen sharply since the drop in crude that gab in 2014. As we mentioned earlier, fed chair janet yellen said one of the reasons they did not raise rates was because of the upcoming referendum in the uk. But the rise of the movement to leave the United Kingdom has some similarities to the rise of donald trump. Trump versus brexit. Lots of comparisons, be just because they shared crazy blond hair of the donald and the boris. Lets explore it. Number one, they both have a straight talking nature that endears them to voters. Second, their supporters tend to be older, part of smaller businesses or selfemployed. For similarities, a definite connection on immigration all be with it some important differences. But i would argue, some crucial overall differences far outweigh those similarities. First up, free trade. Trump opposes it and advocates measures. There and they seek free trade as much as the uks main camp does theflt just seek night different way. Difference, too, trumps rise seeks the washington insiders, brexit is about unelected brussels outside siders. Bits british sovereignty. Whereas american sovereignty is not in doubt, whether under trump or clinton as president. Finally, trumps rise in recent. But the uk is from 1951. There has even been an in house referendum before in the uk in 1975 which was delivered by a labor government high heighting the extent and longevity of the antieurope debate in the uk. So observations between the two but in my eyes no, conclusions to draw for next weeks uk vote election. From brexit to Interest Rates. Now a new concern for investors. Rapidly falling expectations for the Second Quarter. Analysts are looking for a 4. 7 decline in Profit Growth for the Second Quarter. That is a dramatic change from two months ago when earnings were expected to fall just 2. 5 . So does this mean the profit recession may not be over . Lets turn to lindsey bell. Analy analyst. Lets start with why this big change. What can you tell me . Well, i think the big change that youre discussing is really, it started at the beginning of the year. We saw Global Economic uncertainty, weaker than expected Economic Data here in the u. S. , and we had an unseasonable weather. All that combined to make the perfect storm to cause analysts to cut their earnings estimates as the First Quarter earnings began in april. So those numbers were slashed dramatically. The First Quarter numbers came down by 9 Percentage Points which is huge. But when all was said and done about, where were at, the numbers came only, only 2. 5 Percentage Points better. Tip which i, any given quarter, it comes in 4 to 4. 5 Percentage Points better. 5. 4 is certainly weak. The Third Quarter in a row that we saw earnings decline. It is not a good thing. And management outlook for the Second Quarter in the remainder of the year remained subdued. Even provided downward. Because this was so much uncertainty in the environment. A hot of people thought we were in a recession that was ending but it doesnt sound hike thats whats happening. Im not so sure thats the case. The Silver Lining is that the Second QuarterEarnings Growth, while it was supposed to decline 4. 7 . Thats better than what we saw, the decline we saw in the First Quarter of 5. 4 . Consequentially it is better. For the three prior quarters, the earns recession we thought would bottom in each of those quarters and it kept getting pushed out. We are finally seeing that the First Quarter seems to be a draw. If the Second Quarter comes in better than the 5. 4 decline chrgs it should as things currently stand. Assuming the 4 percentage opponent rate. Then we can get a hill more encouraged about the profit finally beginning to see growth rates increase. What does it mean for the economy overalthough, lindsey . I think it goes to show what your first guest talked about. This is a show Economic Growth environment. And you cant expect Earnings Growth to grow substantially higher than Economic Growth. In this type of en a huge weight on the s p 500 this quarter and then past four quarters. Where weve seen negative growth has been the Energy Factor and Energy Prices are finally starting to rebound. Theyre up over 10. In the last two months. I know weve stalled out here just below the 50 mark. But also were seeing currencies, the u. S. Dollar, the strength in that has begun to weaken. These are all very good things for corporate profitability. That will be a good thing Going Forward but again were in this uncertain environment. We have to see what happens with brexit. That will be really important. That could Pressure Energy and the dollar all together, that is going to pressure earnings. Lindsey bell. Thank you. Still ahead, the brain drain at via com. When it might stop and what the company is doing about the democratic nominee Hillary Clinton outline part of her economic man to usa today. She said that if elected she will use her executive action to end the tax loophole for wealthy americans. She said she would ask the Treasury Department to close the carried interest loophole which allows Hedge Fund Managers to pay lower rate than other taxpayers by counting their income as investment income. The 93yearold media mogul reportedly went to visit two of his companies recently, cbs and paramount. Redstone stayed in his vehicle while he met with executives. The rare appearances came in a heated battle between the ceo. Both are fighting for control of the company. Meantime, redstones dollar reportedly met with the alibaba founder. As first reported by the new york post, the two spoke last week and the talks come as sherry gets up to speed to studios sale process. Something being orchestrated by via coms ceo. And every twist and turn in the drama seems to come at the expense of morale at the company where executives are leaving at a rapid pace. Heres more on the depart you of the top talent. Morale is miserable, say sources at the media giant. Under the cloud of a legal battle between controlling share holder,er redstone, and the ceo. Plus, Television Ratings have been in decline and there has been a string of disappointments at viacom. All of this in a slew of departures. Just this week the mtv executive lauren stepping down after 19 years. Earlier this month, nickelodeon president are announcing his this departure. Via com including the networks and the creative side. I think you need continuity. I think in the human relationships, with people running the networks, and creatively on the air, are very important. With a ruling penaltying on the lawsuit challenging his removal from redstones trust, there is no sign of upheaval in the management ranks, slowing any time soon. The lead independent director sending a letter to redstone yesterday imploring him for more transparency about his mans for the company and staying opposition to selling a stake in paramount is not in their best interests. It is under pressure because performance has been lagging. Recent teenage mute ant ninja turtle sequel the falling slack. I think it is really on the. I think there is too much of a tendency for the actual engineering. With them battling over whether it should remain wholly owned by via com, they predict he could be out of a job within nine months. For nightly business report, los angeles. Retailer bad beth beyond buys one kings lane. One kings lane which sells Discount Home decor on its website was once valued at a billion dollars in 2014. Today Ecommerce Company is likely worth a lot less. Bad bath and beyond bought the company said the price is not material. Bank of america is cutting more jobs. Up to 8,000 positions are expected to be eliminated in the companys Consumer Banking division with the majority coming from attrition. At the same time, banff of america will be hiring in its sales unit. Shares up a tick to 13. 34. This new core rose on better than expected guidance. The company said it expects the benefits from higher than average selling prices and improved volumes. That sent shares up. Shares. Whole foods were hit after a letter saying it found serious violations in a massachusetts plant during a february inspection. The organic grocer responded to the claims in march saying it would address the issues but the agency remains unconvince asked gave the company 15 days from the time they received that letter to provide proof of the corrections. Shares fell nearly 5 to l30. 9. The Electronics Manufacturer also announced a 400 million share buyback. Shares fell after hours. On weaker than expected forecasts for the Current Quarter and the full year. Shares finished down a fraction to 18. 43. Am surge which operates ambulatory Surgery Centers in a deal valuing the coil at about 10 billion. Shares rose in the extended session while shares of health care coming up, what you can do to show the rise of abuse on the elde a milestone for the state of california. That state economy is now bigger than frances. And the biggest, the sixth biggest in the world. According to a newly released data. It has a Gross Domestic Product of 2. 5 trillion. Tech company like apple and facebook are helping to drive the economy i know what a growing agricultural industry. Last month california created more jobs than any state. A big nike Health Insurance premiums. According to the Kaiser Family foundation, premiums for the popular low cost plans are expected to rise an average of 10 in 2017. The impact for consumers will depend on whether they receive government six dis. Today is world elder abuse. They are exploited by scammers and sometime even a family. Heres some advice on what people can do to help. Good to be here. Not only is this a terrible situation for many elderly people but it is a costly one as well. It is very costly. The 5 million victims that are expected to fall prey to Financial Abuse every year, that number could be much higher. 20 times higher when you consider that it often goes under reported one. Report found one in every 44 cases only 1 in 44 is ever reported. When you talk about the cost of criminal, fraud and theft. Financial exploitation and abuse by caregivers and sometimes family members. Were talking about 36. 5 billion a year. Why is it under reported . Are peel afraid on report it . Scammed . Theyre embarrassed i think shame has something to do with it. But one person who has prosecuted a lot of cases against scammers said another convenient cognitive impairment, dementia, alzheimers. And elderly being afraid to admit theyre suffering from alzheimers. And family members not wanting to see it. So if that is the case, what are some of the red flags that family members or caregivers or others should look for . One of the things to keep in mine. Financial Services Companies want to do something about this. It is difficult for them often to be able to share information they may see in terms of suspicious activity with family members. You need to be as a family member, really diligent and looking at your elderly parent and seeing whats happening. Piled up notices from creditors. Bills unpaid. Boxes of things they purchased and you dont know why they purchased them. Big withdrawals from their accounts. Look at those as warnings. How do we protect them is that perhaps more importantly hourgs do we empower them on protect themselves . They need to be able to protect themselves. Another thing on keep in mind, they should look for some common squams medicare. Any time you get a call saying medicare will our something for free and it doesnt sound right, or youll get a knew car or give me your Social Security number, your medical number. Thats often a very common scam. So be wary of that. The important thing family members can do is to have the talk. It is such a difficult conversation to have but it is so important to do as soon as possible. And find out how you can help your parents. Perhaps it is ougautomating bil pay. Making sure you have oversight. Making sure you are aware of the purchases theyre making. Where their documents are being kept and keep someone else in the loop. Like Financial Adviser or tax professional. Gals to have you here. For more tips on how to protect Older Americans from elder abuse, head to our website at nbr. Com. That does it for tonight. Thanks for joining me and have a great evening. Well see you back here. That nest is getting ready to hatch. Look at em all. Are you kidding me . Goodness narrator each year from late july to november, tiny sea turtle hatchlings seemingly vanish into the vast ocean along floridas coast. The sea turtle lost years includes the time from which the turtles emerge from their nests, crawl down and enter into the ocean, and then they swim off shore. Narrator bound for destinations unknown. For decades, researchers were left to guess where the hatchlings journeyed during their lost years. We dont really know what they do, where they go, in part because its really difficult to access those offshore waters. That life history stage has been historically understudied. Before now we just called them the lost years and kind of threw up our hands