Gary Siegel

Economic conditions should allow the Federal Open Market Committee to raise the fed funds target later this year Federal Reserve Bank of New York President and Chief Executive Officer William C. Dudley said Friday.

U.S. inflationary pressures were up slightly in May, as the U.S. future inflation gauge grew to 101.3 from a revised April 101.0 reading, first reported as 101.1, according to data released Friday morning by the Economic Cycle Research Institute.

May layoff intentions decreased sharply to 41,034 from April's 61,582, Challenger, Gray & Christmas reported Thursday.

About 5,445,000 online job postings appeared on leading Internet job boards in May, an increase of 83,100 from April, the Conference Board reported Wednesday.

The U.S. services sector expanded at a slower pace in May as the non-manufacturing business activity composite index was 55.7 in the month, compared to 57.8 in April, on a seasonally adjusted basis, the Institute for Supply Management reported Wednesday.

The European Central Bank announced its Governing Council held interest rates at its latest monetary policy meeting Wednesday.

With first-quarter data coming in weak, forestalling an "immediate" rate increase, time for liftoff is getting "clearer," Federal Reserve Board Governor Lael Brainard said Tuesday.

New orders for manufactured goods decreased 0.4% in April, after gaining a revised 2.2% in February, first reported as a 2.1% increase, the Commerce Department reported Tuesday.

New York City business activity "moderated" in May, as the current business conditions index declined to 54.0, from 58.1 in April, the Institute for Supply Management-New York's Report on Business index, released Tuesday, indicated.

The overall economy grew for the seventy-second straight time, while the manufacturing sector expanded for the twenty-ninth consecutive month, the Institute for Supply Management reported Monday.

Construction spending increased 2.2% in April, the Commerce Department said Monday, and is 4.8% above the April 2014 level.

Real gross domestic product growth will slow to 2.1% this year from 2.4% last year before surging to 2.7% in 2016, according to participants in the Federal Reserve Bank of Chicago annual Automotive Outlook Symposium.

Urging "continued patience" on monetary policy because conditions haven't been met, Federal Reserve Bank of Boston President Eric Rosengren suggested Monday economic weakness may not be a transitory event.

The University of Michigan's final May consumer sentiment index reading was 90.7, compared to the preliminary May 88.6 and the final April 95.9, according to market sources.

The Chicago Purchasing Managers' Business Barometer fell to 46.2 in May from 52.3 in April, the National Association of Purchasing Management-Chicago said Friday.

The seasonally adjusted Milwaukee Report on Business slipped to 47.7 in May from 48.1 in April, the Institute for Supply Management-Milwaukee reported Friday.

The Midwest Economy Index slipped to 0.29 in April from a downwardly revised 0.33 in March, first reported as 0.39, the Federal Reserve Bank of Chicago said Friday.

The Federal Open Market Committee must display extraordinary patience and hold off raising the fed funds rate this year to reach its dual mandate, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Thursday.

Promising higher prices, which would increase inflation, may be the best policy to relieve credit market stress when zero lower bound rates threaten, according to a study released by the Federal Reserve Bank of St. Louis Thursday.

Pending home sales increased 3.4% to an index reading of 112.4 in April, after a revised 1.2% increase to 108.7 in March, according to a report released Wednesday by the National Association of Realtors.