Blackstone's Byron Wien says the economy lacks 'natural momentum' and stocks are fully priced

Byron Wien
Olivia Michael | CNBC

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Blackstone's Byron Wien said Thursday that the U.S. economy needs more stimulus from the government to continue improving from the recession caused by the coronavirus pandemic.

Wien, the vice chairman of Blackstone's Private Wealth Solutions Group, joined CNBC's "Squawk Alley" to discuss the economic recovery, the stock market and the presidential race. His appearance came as Initial jobless claims for last week rose above 1 million again, according to the Labor Department, and talks for another round of stimulus have stalled in Washington.