As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
Delta is gathering more data from customers than ever in hopes of avoiding customer service problems and increasing customer satisfaction, its CFO says.At Workread more
The Biden team's second-quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
Chicago Federal Reserve President Charles Evans said Thursday the central bank should push any interest rate hike into next year, despite what he expects to be a rebound in the economy in the second quarter and the rest of 2015.
"There are uncertainty reasons to sort of make you say, 'Why should you be in a rush to do this,'" he told CNBC's "Squawk Box " in an interview.
"Accommodation is helping the economy move up," he argued. "And if inflation were to pick up more strongly than I'm expecting, we know how to deal with that, we can increase rates."
The initial look at U.S. economy in the first quarter—out at the end of April—already signaled weak growth. That slow growth is now expected to be revised even lower based on recent sluggish data, when revised figures are released later this month.
"We kind of think that was transitory, in part because the dollar has been high, inventory accumulation was high, [the] consumer was weaker. But we think things are going to improve," said Evans, among the most dovish voting members on the central bank's policy committee.
He said he's looking forward to a stronger second quarter that's "more consistent with the stronger growth outlook that I and so many other people have of like 2.5 percent to 3 percent this year."
Investors get a major piece of the puzzle for the second quarter when the government releases the closely watched April employment report. Following Wednesday's worse-than-expected ADP private jobs numbers for last month and a lower-than-expected weekly jobless claims number Thursday, economists expect Friday's Labor Department report to show job growth of 224,000 for April, compared with the meager 126,000 nonfarm payrolls added in March.
Rising bond yields served as a headwind for stocks Wednesday, with the 10-year yield trading at levels not seen in months—over 2.27 percent early Thursday before pulling back.
Asked to explain the recent spike in yields, Evans said, "Investors are probably looking at Europe and wondering, 'Well maybe things are better off.' And they're trying to see through what the ECB is going to do."
The European Central Bank is currently engaged in a Fed-style quantitative easing bond purchase program. "I'm confident that the ECB is going to continue with their choose path for quite some time," he said.
Another knock on stocks Wednesday was Fed Chair Janet Yellen saying market valuations are "quite high."
Evans defended Yellen's decision to talk about stocks. "I think it's incumbent on us to talk about financial stability [and] financial instability risk."
"In that context, it's quite natural that policymakers and the chair of the Federal Reserve [are] going to make some comments," he said—adding he agrees with Yellen. "The stock market is high, there's no doubt about it."