Gary Siegel

"New York City purchasing managers reported strong optimism in addition to a faster pace of activity in March," the Institute for Supply Management-New York's Report on Business index, released Tuesday, indicated.

Three rate hikes appear to remain appropriate for this year, Federal Reserve Bank of Philadelphia President and CEO Patrick T. Harker repeated Monday, noting they can be spread out.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.790% high rate, up from 0.780% the prior week, and the six-months incurred a 0.910% high rate, up from 0.905% the week before.

The Treasury Department said Monday it will sell $55 billion of four-week discount bills Tuesday.

According to the ISM's monthly report on business, the ISM index decreased to 57.2 in March from 57.7 in February.

The University of Michigan's final March consumer sentiment index reading was 96.9, compared to the preliminary March 97.6 and the final February 96.3, according to market sources.

The Chicago Purchasing Managers' Business Barometer crept to 57.7 in March from 57.4 in February, the National Association of Purchasing Management-Chicago said Friday.

The seasonally adjusted Milwaukee Report on Business rose to 61.77 in February from 58.69 in February, the Institute for Supply Management-Milwaukee reported Friday.

The Midwest Economy Index improved to 0.27 in February from 0.01 in January, the Federal Reserve Bank of Chicago said Friday.

While the removal of accommodation needs to pick up the pace from the once a year rate increases of the past two years, the Federal Open Market Committee does not need to raise rates at every meeting, Federal Reserve Bank of Cleveland President Loretta Mester said Thursday.

With the dual mandate in sight, the Federal Reserve needs to determine how to sustain the recovery, Federal Reserve Bank of San Francisco President and CEO John C. Williams said Wednesday.

Four rate hikes this year, one at every other meeting, would still be a gradual rate of increase, Federal Reserve Bank of Boston President and CEO Eric S. Rosengren said Wednesday.

Pending home sales increased 5.5% to an index reading of 112.3 in February, after an unrevised 2.8% drop to 106.4 in January, according to a report released Wednesday by the National Association of Realtors.

Inflation will slowly move toward the Federal Reserve's 2% target, and for the first time in a long time, risks to growth are more on the upside, Federal Reserve Bank of Chicago President Charles Evans said Wednesday.

Although the economy and labor market continue improving, challenges remain, and monetary policy may not be the answer, Federal Reserve Board Chair Janet Yellen said Tuesday.

Texas service sector activity "grew in March," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index grew to 15.2 from 14.1.

Service sector activity "continued to improve in March," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturers in the central Atlantic region "were generally upbeat in March," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index rose to 22 in March from 17 in February.

The consumer confidence index increased to 125.6 in March from a revised 116.1 last month, The Conference Board reported Tuesday.

Home prices in 20 U.S. cities rose 5.9% in the 12 months through January, setting a 31-month high, according to S&P CoreLogic Case-Shiller data reported Tuesday.