SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Consumer IPOs from Snap to Uber have been disappointing and serve as a reminder that private investors are making all the money.Technologyread more
The 2019 PGA Championship wraps up on Sunday, May 19. Here's how much money the champion will earn.Earnread more
China's currency has been an important barometer for progress in U.S.-Chinese trade talks, and right now it's signaling things aren't going well.Market Insiderread more
The move comes after star runner Alysia Montaño's May 12 op-ed in the New York Times in which she detailed her experiences with Nike.Business Newsread more
While the prolonged fight has been devastating to an already-struggling agriculture industry, there's little indication Trump is paying a political price.Traderead more
The outrage has even inspired a Change.org petition called "Remake Game of Thrones Season 8 with competent writers," with over half-a-million signatories and climbing.Entertainmentread more
The company's comments Friday come after the White House said U.S.Trade Representative Robert Lighthizer will "address the threatened impairment" of national security from...Autosread more
There's one key economic model that the Federal Reserve has struggled to understand, Charles Evans, the president of the Federal Reserve Bank of Chicago, told CNBC on Wednesday.
"We don't have a great understanding of why it's gotten to be so flat," Evans said about the so-called Phillips curve.
This model states that as the unemployment rate decreases, inflation should pick up with more people in work. However, despite decreases in the U.S. unemployment rate, which currently stands at about 4 percent, the inflation rate has kept falling since the start of the year.
It is the Fed's main aim to stabilize prices at an inflation rate of about 2 percent. Recent data suggest that core inflation, which excludes food and energy, stood at 1.3 percent in September. At the start of the year, inflation was at 1.9 percent.
"So it's hard to really speculate and theorize as to why it might all of the sudden steepen, now as the unemployment rate continues to go lower … surely wage pressure should re-emerge," Evans said.
A steepening Phillips Curve would suggest that wage growth is rising, while a flat curve would highlight an economy that has little inflation but low unemployment.
Evans added that he is not worried in case there is a sudden pickup in inflation.
"I also take great heart from the fact that if we get inflation we know how to deal with inflation," he said. "We increase interest rates."
Evans, who believes that the actual expectations regarding inflation is one of the factors driving inflation itself lower, said that the Fed should reinforce its commitment to bring inflation to 2 percent.
"It's a challenge for monetary policy to communicate that our inflation objective is 2 percent," he said. But communicating it and thus raising sentiment surrounding inflation "would help us to get to 2 percent on inflation itself."