Gary Siegel

The Chicago Fed National Activity Index for October fell to 0.14 from a revised 0.29 reading in September, while the three-month moving average (CFNAI-MA3) dropped to negative 0.01 from a revised positive 0.12 in September, the Federal Reserve Bank of Chicago reported Monday.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "expanded at a slightly faster pace in November, and producers' expectations for future activity increased further" in November, according to the bank's monthly manufacturing survey, released Thursday.

Clarity in communication from the Federal Open Market Committee makes policy more effective, but improvements can be made because the Great Recession caused the Fed to alter its behavior, making it difficult for markets to read how it will react to economic developments, according to Federal Reserve Bank of Cleveland President and Chief Executive Officer Loretta J. Mester.

The composite index of Leading Economic Indicators was up 0.9% in October following a revised 0.7% rise in September, first reported as a 0.8% climb, the Conference Board reported Thursday.

The region's manufacturing sector expanded at a faster pace in November, as the general business conditions index soared to its highest reading since December 1993, 40.8 from 20.7 in October, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The Federal Open Market Committee apparently had a long discussion about whether or not to keep the phrase "considerable time" in its statement regarding how long it would keep the fed funds rate target zero lower bound after its asset purchase program was ended, according to minutes from its Oct. 28-29 meeting, released Wednesday.

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

Builders' confidence in the market for new single-family homes grew as the National Association of Home Builders' housing market index climbed to 58 in November from 54 in October.

Fears that highly accommodative monetary policy will lead to a surge in inflation are unfounded, according to a Federal Reserve Bank of San Francisco Economic Letter release Monday.

Growth projections were lowered slightly by those responding to the Federal Reserve Bank of Philadelphia's quarterly Survey of Professional Forecasters, and unemployment rate projections for the next three quarters were also revised down in the report released Monday.

The Empire State Manufacturing Survey showed "business activity continued to expand for New York manufacturers," the Federal Reserve Bank of New York reported Monday, as the general business conditions index grew to 10.16 in November from 6.17 in October.

Business inventories rose 0.3% to $1.756 trillion in September, while sales were unchanged at $1.353 trillion, the Commerce Department reported Friday.

The University of Michigan's preliminary November consumer sentiment index reading was 89.4, compared to the final October 86.9 and the preliminary October 86.4, according to market sources.

Low inflation does not warrant keeping the fed funds rate target near zero, according to Federal Reserve Bank of St. Louis President James Bullard.

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota reiterated his belief that based on his outlook the fed funds rate should be steady in 2015.

Adjusting the perceived neutral rate of monetary policy need to be considered only "with great care and discipline," Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said Thursday.

Wholesale inventories increased 0.3% in September, the Commerce Department reported Wednesday. Wholesale sales grew 0.2%.

Consumers' view of inflation expectations were steady in October, with buyers expecting 3.0% inflation over the course of one year and three years, 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) gained to 123.09 in October from an upwardly revised 121.91 in September, and is up 7.7% from a year ago, the group announced Monday.

U.S. inflationary pressures were higher in October, as the U.S. future inflation gauge grew to 105.9 from a revised September 104.8 reading, according to data released Friday morning by the Economic Cycle Research Institute.