Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread 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
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread 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 United States will likely experience some level of secular stagnation in coming years as demographics and the nature of the recovery cap growth, a senior economist at Ameriprise Financial said Thursday.
"Quite frankly, the speed limit for the American economy today probably is around 3 percent, as compared to historically, when most of us were growing up. We remember recovery periods where the economy could grow, 4 or 5 percent," Russell Price said on CNBC's "Squawk Box." (Tweet This)
Slower population growth and America's aging society will create less demand for credit, keeping interest rates and inflation relatively low, he said. The current recovery, which saw Americans work to reduce their debt, will also contribute to persistently lower bond yields, Price added.
However, he said he is "very comfortable" with roughly 2.5 percent GDP growth because with it comes continued improvement in the labor market. Ameriprise forecasts GDP growth of 2.9 percent in 2016.
"The speed limit being 3 percent, until we really start to generate some inflation, I think that that's positive. We're still generating pretty good job growth, so that's favorable for the consumer, and I think fundamentals continue to improve in that type of environment," he said.
Ralph Segall, co-founder and chief investment officer at Segall, Bryant & Hamill, told "Squawk Box" he agreed with that assessment but said the problem in this environment is companies have not been able to drum up much sales growth.
While sales since 2009 have risen about 5 percent, operating profit has grown roughly 14 percent on the back of "a vast amount of cost cutting," he said.
"At a certain point in here, our concern is that if the economy doesn't pick up, you 've squeezed out most of what you're going to squeeze out, and the risk to margins could be tough," he said.
Segall, whose firm manages $5 billion in fixed income and $4.7 billion in equities, questioned why the price of oil and commodities and interest rates are down if the economy seemed to be getting better.
"This is six or seven years into a global recovery. There is no real improvement there," he said. "Companies don't have pricing power, and you don't see enough strength in the economy—at least we can't find it—to figure out where that's going to be coming from."
Read More US job openings tick up in Apri
Price believes a boost to the economy will come from the consumer.
"Even though retail sales have been weak up to this point, consumer fundamentals are very good," he said. "Wages and salaries are growing at a better pace. Aggregate wages and salaries are growing between 4.5 and 5 percent."
Any weakness in areas that reflect consumer confidence levels, such as homebuilders and home improvement and travel and leisure, would be cause for concern, he said.