CNBC Economy

Home price gains are accelerating at an alarming pace, a sharp, pandemic-induced inflation that some claim is not getting enough attention from the Fed.

The Fed is not keeping monetary policy easy to help the government run up debts and deficits, Waller said.

At some point, that will allow the central bank to dial back the help it has provided, though Powell said now is not that time.

Claims totaled 684,000 for the week ended March 20, the first time the number has been below 700,000 during the Covid-19 era.

Banks have improved their capital positions and should be allowed to continue to buy back their own shares, Yellen said.

Higher mortgage rates do not appear to be dampening demand for home purchases but are crimping refinance volume.

Sales of newly built homes fell more than expected in February, as builders faced higher costs and persistent delays.

The Federal Reserve has taken another step forward in efforts to ensure that the financial system is protected against climate risks.

Dallas Federal Reserve President Robert Kaplan told CNBC he likely will favor an interest rate increase before the end of 2022.

The supply of homes for sale fell 29.5% year over year, the largest annual decline ever, to 1.03 million homes.

"Vaccines are rolling out, case rates and hospitalizations are falling, excess savings and fiscal stimulus should help fund pent-up demand," said Thomas Barkin.

Inflation-fighting tools come with a cost, and can be deadly to the kinds of growth periods the U.S. is experiencing.

The Fed declined to extend a pandemic-era rule that relaxed the amount of capital banks had to maintain against Treasurys and other holdings.

Jobless claims totaled 770,000 for the week ended March 13, an increase from 725,000 during the previous period.

The Federal Reserve sharply ramped up its economic expectations for 2021, according to the central bank's Summary of Economic Projections.

As widely expected, the policymaking Federal Open Market Committee also voted to keep short-term borrowing rates steady near zero.

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policy-making meeting on Jan. 27.

Higher mortgage rates are cutting into demand for refinances, as fewer and fewer borrowers can now get worthwhile savings.

A monthly index measuring builder confidence in the single-family housing market fell, as homebuilders face rising interest rates and rising material costs.

Just over a year since Covid-19 turned the world upside down, investors are starting to get over it.