Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
The FDIC on Tuesday votes to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.Financeread more
Stocks slipped on Tuesday as investors digested a sharp rebound from a strong sell-off last week.US Marketsread more
For investors still haunted by last week's monster sell-off, the market's comeback is set to last, according to J.P. Morgan's quant guru.Marketsread more
An under-the-radar hedge fund is ruling the industry with a nearly 30% return this year so far, and it's more than doubling its bet on gold.Marketsread more
The National Rifle Association is turning to old stock footage of Dana Loesch, their former spokeswoman, to rally supporters in the wake of the recent mass shootings and...Politicsread more
The move comes as Facebook continues to grapple with its privacy practices and lawmakers' scrutiny over how it uses personal data to display ads. But it will probably won't...Technologyread more
The launch follows a "preview" earlier this month that allowed only limited customers to apply.Technologyread more
"The hawks on the Fed are going to be gunning for no more rate cuts, which is obviously not what the market wants," says CNBC's Jim Cramer.Marketsread more
U.S. interest rates will keep falling and follow global interest rates all the way down to zero, hedge fund manager Kyle Bass said.Marketsread 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."