Gary Siegel

Texas factory activity, as measured by the production index, “increased for a second month in a row in April,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released Monday.

Existing home sales grew 5.1% to a seasonally adjusted 5.33 million-unit rate in March from a revised 7.3% drop to a 5.07 million sales pace, first reported as a 7.1% decrease to a 5.08 million pace the previous month, the National Association of Realtors announced Wednesday.

Market expectations of one 25 basis point increase in the fed funds rate target in each of the next three years does not reflect the fact the economy is “fundamentally sound” and is “inconsistent” with other projections, Federal Reserve Bank of Boston President and Chief Executive Officer Eric S. Rosengren said late Monday.

The Federal Open Market Committee will be gradual and cautious in raising the fed funds rate target, Federal Reserve Bank of New York President William Dudley said Monday.

The New York region's service sector activity "was flat," according to the Federal Reserve Bank of New York's April Business Leaders Survey, released Monday.

Builders’ confidence in the market for new single-family homes was unchanged as the National Association of Home Builders' housing market index remained at 58 in April.

The University of Michigan's preliminary April consumer sentiment index reading was 89.7, compared to the final March 91.0, and the preliminary March 90.0, according to market sources.

Industrial production fell 0.6% in March, the Federal Reserve reported Friday.

The Empire State Manufacturing Survey showed "business activity expanded for New York manufacturers," the Federal Reserve Bank of New York reported Friday, as the general business conditions index improved to 9.56 in April from 0.62 in March.

The federal government ran a $108.0 billion deficit in March the Treasury Department reported Tuesday.

Turning a little to the conservative side, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Patrick T. Harker Tuesday suggested holding off raising the fed funds rate target until inflation increases.

Market participants increasingly see monetary policy as being data dependent, according to an Economic Letter released Monday by the Federal Reserve Bank of San Francisco.

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

While backing a “gradual path of policy normalization,” Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther L. George, warned of costs if increases are delayed too long.

Consumer credit increased by $17.2 billion in February to $3.568 trillion, the Federal Reserve reported Monday.

While Federal Reserve Bank of Kansas City President Esther George was the only voter to dissent at the latest Federal Open Market Committee meeting, minutes show she was not alone in wanting a rate hike.

The Federal Open Market Committee should be able to gradually raise the fed funds rate target this year, Federal Reserve Bank of Cleveland President and Chief Executive Officer Loretta J. Mester repeated Wednesday.

Labor market conditions “declined modestly, while momentum moderated,” as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) decreased to negative 0.02 in March from a revised positive 0.01 in February, first reported as negative 0.05, according to the Bank.

The U.S. services sector expanded at a faster pace in March as the non-manufacturing business activity composite index was 54.5 in the month, compared to 53.4 in February, on a seasonally adjusted basis, the Institute for Supply Management reported Tuesday.

New York City business activity “continued to expand at a slower rate, settling close to a stall speed in the latest month,” as the current business conditions index fell to 50.4 in March from 53.6 in February, the Institute for Supply Management-New York’s Report on Business index, released Monday, indicated.