St. Louis Fed President James Bullard said last week that he thinks full employment is closer to 6 percent and therefore we're about 0.6 percent away from full employment.
Apple has nearly $170 billion in cash on its balance sheet.
Nakao's quote on emerging markets has been corrected to "they have pursued good macroeconomic policies," from "they have passed good democratic processes."
The version corrected that Wal-Mart Stores posted earnings excluding items of $1.60 a share, beating analysts' estimates by a penny a share.
This article has been updated to reflect the correct revenue comparison.
An earlier version of this story included an incorrect figure for the Fed's monthly bond purchases. The correct figure is $65 billion.
This version corrected the year the National Association of Home Builders' monthly sentiment index began: 1985.
An earlier version of the story incorrectly stated that BNP and Citi expect a 25 basis point cut in March and May. It should, in fact, be a rate hike.
This story corrects throughout to change currency to C$ from US$.
This article has been updated to reflect that Dan Morris is the global investment strategist at TIAA-CREF.