Federal Reserve Bank of New York

Federal Reserve Bank of New York President William Dudley sounded a positive note on the U.S. economy, saying the central bank wanted to tighten monetary policy “very judiciously” to avoid derailing the expansion that began in mid-2009.

The Empire State Manufacturing Survey showed "business activity rebounded strongly in New York State," the Federal Reserve Bank of New York reported Thursday.

Inflation expectations fell and consumers expect to spend less, according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.

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

The Empire State Manufacturing Survey showed "business activity leveled off in New York State," the Federal Reserve Bank of New York reported Monday, as the general business conditions index decreased to negative 1.0 in May from positive 5.2 in April.

The Federal Reserve is on track to begin unwinding its balance sheet this year or next, although U.S. central bankers are not in a rush to tighten and will take care to ensure their actions don’t trigger disruptions that harm the global economy, Federal Reserve Bank of New York President William Dudley said.