Gary Siegel

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "expanded further with continued strong expectations" in February, according to the bank's monthly manufacturing survey, released Thursday.

The Chicago Fed National Activity Index for January dropped to negative 0.05 from an upwardly revised positive 0.18 in December, first reported as positive 0.14, while the three-month moving average (CFNAI-MA3) dipped to negative 0.03 from an upwardly revised negative 0.02 in December, first reported as negative 0.07, the Federal Reserve Bank of Chicago reported Thursday.

Gradual monetary policy tightening should be appropriate if the economy continues as it's going, Federal Reserve Board Governor Jerome H. Powell said Wednesday, noting the Fed is not behind the curve.

Existing home sales grew 3.3% to a seasonally adjusted 5.69 million-unit rate in December from an upwardly revised 5.51 million sales pace the previous month, initially reported as 5.49 million, the National Association of Realtors announced Wednesday.

The natural rate of interest, or r-star, "will not reverse anytime soon," Federal Reserve Bank of San Francisco President and CEO John C. Williams wrote in an Economic Letter published Tuesday.

If the economy stays on track, three 25 basis point rate hikes would be appropriate this year, Federal Reserve Bank of Philadelphia President Patrick T. Harker said Tuesday.

Stating that he hates to make predictions about changes in monetary policy, Federal Reserve Bank of Minneapolis President Neel Kashkari seemed to indicate Tuesday he still believes the current monetary policy is appropriate.

The region's non-manufacturing sector "activity continued to expand in February," although the general business conditions index fell to 29.3 from 37.7 in January, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

The composite index of Leading Economic Indicators was up 0.6% in January following an unrevised 0.5% increase in December, the Conference Board reported Friday.

The region's manufacturing sector expanded in February, as the general business conditions index soared to 43.3 from 23.6 in January, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The New York region's service sector activity "continued to grow modestly," according to the Federal Reserve Bank of New York's February Business Leaders Survey, released Thursday.

The three interest rate hikes projected in the Federal Reserve Summary of Economic Projections is a starting point for this year if the economy grows as projected, Federal Reserve Bank of Boston President and CEO Eric S. Rosengren said Wednesday.

Builders' confidence in the market for new single-family homes dipped as the National Association of Home Builders' housing market index fell to 65 in February from 67 in January.

Industrial production was down 0.3% in January, the Federal Reserve reported Wednesday.

The Empire State Manufacturing Survey showed "business activity expanded at a solid clip in New York State," the Federal Reserve Bank of New York reported Wednesday, as the general business conditions index increased to 18.7 in February from 6.5 in January.

Refusing to be pinned down to whether rates will be increased at either the March or June Federal Open Market Committee meetings, Federal Reserve Board Chair Janet Yellen said, "Every meeting is live."

The Federal Reserve is "very well aware" of the possibility of policy changes that could impact the economy, but will not move on "speculation."

If the Fed followed the Taylor rule, unemployment would be higher and inflation lower, Federal Reserve Board Chair Janet Yellen said Tuesday.

Federal Reserve Board Chair Janet Yellen reiterated she will complete her term as chair.

The Fed funds rate target needs to be raised quicker than expected, Federal Reserve Bank of Richmond President Jeffrey Lacker said Tuesday.