Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
The U.S. Federal Reserve should wind down its bond purchases faster than planned and end it before mid-year, a hawkish Fed policymaker said on Wednesday, going a step further in his criticism of the stimulus.
Philadelphia Fed President Charles Plosser warned of looming communications problems if the central bank keeps buying assets while, as he expects, the U.S. unemployment rate falls below 6.5 percent some time in the first half of 2014, from the current 6.7 percent.
Plosser, who backed the Fed's decision last week to modestly trim the purchases, has long been in the minority of policymakers opposed to the 17-month old program of buying Treasurys and mortgage bonds to support the U.S. recovery, which has been slow in recent years but picked up toward the end of 2013.
While he is unlikely to sway new Chair Janet Yellen and the Fed's others core decision-makers, his speech suggests he is ready to dissent if the central bank continues trimming the program by only $10-billion monthly increments at future meetings, as most economists expect.
(Read more: Off-the-charts weather net bad for economy)
According to prepared remarks, Plosser argued that labor market conditions are "improving rapidly" and inflation, while low at just over 1 percent, "has stabilized" and is expected to strengthen.
"The longer we continue purchases in such an environment, the more likely we will fall behind the curve in reducing the extraordinary degree of monetary policy accommodation," Plosser was to tell an economic seminar in Rochester.
"With the economy awash in reserves, the costs of such a misfire could be considerably higher than usual, fomenting higher inflation and perhaps financial instability."
Besides the asset purchases, which are now running at $65 billion per month, the Fed has promised to keep interest rates near zero until well past the time unemployment falls below a 6.5-percent threshold, especially if inflation remains low.
(Read more: This is a 3% growth, 200,000-job economy: Zandi)
Though the Fed has stressed that the two easy-money policies—bond-buying and low rates—are separate, Plosser said "communications problems" loom if the economy continues to gather strength.
"My preference is to scale back our purchase program at a faster pace to reflect the strengthening economy," he said. "I would like to see purchases concluded before the unemployment rate reaches the threshold, which is likely during the first half of the year."
Plosser noted that, so far, turmoil in the emerging markets is not a big risk to the U.S. economy.
—By Reuters. CNBC contributed to this report.