Gary Siegel

Existing home sales declined 0.9% to a seasonally adjusted 5.33 million-unit rate in August from a downwardly revised 5.38 million sales pace the previous month, the National Association of Realtors announced Thursday.

The Chicago Fed National Activity Index for August plunged to negative 0.55 from a downwardly revised positive 0.24 in July, first reported as positive 0.27, while the three-month moving average (CFNAI-MA3) narrowed to negative 0.07 from a revised negative 0.09 in July, first reported as negative 0.10 the Federal Reserve Bank of Chicago reported Thursday.

The fed funds target should go up once this year if "no new major risks" pop up and the economy continues on its current course, Federal Reserve Board Chair Janet Yellen said Wednesday.

One rate hike is predicted this year by the summary of Economic Projections, released by the Fed Wednesday, and the fed funds rate target is seen at just over 1.00% at the end of next year.

The Federal Open Market Committee left the federal funds rate target at 0.25% to 0.50%, according to a statement released by the Fed Wednesday.

The region's non-manufacturing sector "grew at a slightly slower pace" in September, as the general business conditions index declined to 23.7 from 24.8 in August, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

Builders' confidence in the market for new single-family homes was higher as the National Association of Home Builders' housing market index rose to 65 in September from a downwardly revised 59 in August.

Industrial production fell 0.4% in August, the Federal Reserve reported Thursday.

The region's manufacturing sector expanded in September, as the general business conditions index soared to 12.8 from 2.0 in August, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

U.S. current account deficit fell to $119.9 billion in the second quarter of 2016 from a $131.8 billion deficit in the first quarter of, the Commerce Department reported Thursday.

Initial jobless claims rose 1,000 to 260,000 in the week ended Sept. 10, the Labor Department said Thursday.

The Empire State Manufacturing Survey showed "business activity edged lower in New York State," the Federal Reserve Bank of New York reported Thursday, as the general business conditions index narrowed to negative 1.99 in September from negative 4.21 in August.

The federal government ran a $107.1 billion deficit in August, the Treasury Department reported Tuesday.

Although the economy has made progress, inflation still remains below target, which gives the Federal Reserve time to wait before raising rates, Fed Governor Lael Brainard said Monday.

Consumers increased their expectations for inflation, according to the August Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.

While refusing to opine on the remaining Federal Open Market Committee meetings for the year, Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis Lockhart Monday urged the panel engage in a "serious discussion" of a rate hike.

The Federal Reserve should wait to see more evidence of sustained inflation before raising rates Federal Reserve Board Governor Daniel Tarullo said Friday.

Despite low gross domestic product growth, and without offering a timetable, Federal Reserve Bank of Boston President & Chief Executive Officer Eric S. Rosengren Friday called for gradual interest rate hikes.

Consumer credit increased by $17.7 billion in July to $3.661 trillion, the Federal Reserve reported Thursday.

Labor market conditions were "little changed and momentum remained high in August," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) remained at 0.09 in August from a revised 0.09 in July, first reported as 0.041, according to the Bank.