The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
Sundar Pichai's note reads like a response to growing scrutiny from regulators, press and employees, and echoes a consistent theme of how Google helps people.Technologyread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Berkshire Hathaway chairman Warren Buffett and J.P. Morgan Chase chief executive Jamie Dimon told CNBC the U.S. economy is in rare form and could continue to prove strong for years to come.
"Right now, there's no question: It's feeling strong. I mean, if we're in the sixth inning, we have our sluggers coming to bat right now," Buffett said in the "Squawk Box " the interview that aired Thursday.
"I'm no good at predicting out two or three or five years from now, although I will say this: There's no question in my mind that America's going to be far ahead of where we are now 10, 20 and 30 years from now," the 87-year-old billionaire added. "But right now, business is good. There's no question about it."
But Buffett cautioned that a strong economy doesn't necessarily mean it's a good time to buy stocks.
"The decision on the stock market should be made independent of the current business outlook," Buffett said. "I don't think you should buy stocks based on what you think the next six months or year is going to bring."
Dimon — who has been J.P. Morgan CEO since 2005 — echoed Buffett's positive comments on economic growth, saying that the current uptrend in business could last years.
"The way I look at it, there is nothing that is a real pothole," he said. "Business sentiment is almost at the highest level it's ever been, consumer sentiment is at its highest levels, markets are wide open, housing's in short supply and my guess is mortgage credit will expand a little bit."
The two business leaders spoke as indicators of economic health continued to show strength. The unemployment rate, for example, fell to an 18-year low of 3.8 percent, according to figures released Friday, while second-quarter growth may reach 4.5 percent, according to the Atlanta Fed's GDPNow tracker.
Source: U.S. Bureau of Labor Statistics, FRED, Federal Reserve Bank of St. Louis
"If you look at how the table's set, consumers are in very good shape," Dimon said. "Their balance sheet, their incomes, wages are going up, their debt levels are low, all the credit written since the Great Recession is pristine, whether it's mortgage credit — other than student lending, which is done by the government."
"So," he concluded. "It looks pretty good."