Gary Siegel

Fewer consumers sought credit, and the number of those too discouraged to even apply grew, according to the quarterly Survey of Consumer Expectations (SCE) Credit Access Survey, released by the Federal Reserve Bank of New York Monday.

Last week's rate hike by the Federal Open Market Committee, was "prudent," Federal Reserve Bank of Philadelphia President Patrick T. Harker said in a televised interview Monday.

Three rate hikes by the Federal Reserve this year is "entirely possible," Federal Reserve Bank of Chicago President Charles Evans said in a televised interview Monday.

The Chicago Fed National Activity Index for February increased to positive 0.34 from an upwardly revised negative 0.02 in January, first reported as negative 0.05, while the three-month moving average (CFNAI-MA3) soared to positive 0.25 from an upwardly revised positive 0.07 in January, first reported as negative 0.03, the Federal Reserve Bank of Chicago reported Monday.

Labor market conditions were "little changed and momentum remained high in February," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) climbed to 0.31 in January from a revised 0.30 in January, first reported as 0.25, according to the Bank.

The University of Michigan's preliminary March consumer sentiment index reading was 97.6, compared to the final February 96.3, and the preliminary February 95.7, according to market sources.

The composite index of Leading Economic Indicators was up 0.6% in February following an unrevised 0.6% increase in January, the Conference Board reported Friday.

With slack remaining in the labor market and inflation still below the Fed's 2% target, Federal Reserve Bank of Minneapolis President Neel Kashkari voted against raising the fed funds target rate this week.

Industrial production was flat in February, the Federal Reserve reported Friday.

The region's manufacturing sector expanded in March, but at a slower pace than in February, as the general business conditions index declined to 32.8 from 43.3 in February, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The New York region's service sector activity "expanded slightly," according to the Federal Reserve Bank of New York's March Business Leaders Survey, released Thursday.

The Federal Reserve's Summary of Economic Projections was changed slightly from the dot plot issued three months ago, with three 25 basis point rate hikes still projected for this year.

As expected, the Federal Open Market Committee Wednesday announced it raised the fed funds target by 25 basis points to between 0.75% and 1.00%.

Builders' confidence in the market for new single-family homes jumped as the National Association of Home Builders' housing market index grew to 71 in March from 65 in February.

The Empire State Manufacturing Survey showed "business activity continued to grow at a solid clip in New York State," the Federal Reserve Bank of New York reported Wednesday, as the general business conditions index decreased to 16.4 in March from 18.7 in February.

Despite a dip to 105.3 in February from 105.9 in January, the National Federation of Independent Business' monthly Small Business Optimism index published Tuesday, stayed near a 43-year high.

The producer price index was up 0.3% in February on a seasonally adjusted basis, while the core rate, which excludes food and energy rose 0.3%, the Labor Department reported Tuesday.

Consumer expectations on inflation "shows a slight uptick in median three-year ahead inflation expectations," according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.

The Conference Board's Employment Trends Index (ETI) grew to 131.394 in February from a downwardly revised 129.91 in January, and is up 3.1% from a year ago, the group announced Monday.

The Federal Reserve Bank of Atlanta picked economist Raphael W. Bostic as its 15th president and chief executive officer, the Bank announced Monday.