Jeff Cox

The Bank of America CEO said Wednesday that consumers are continuing to spend and growth should be solid though slower this year

The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year.

Fed officials see inflation moving up this year more rapidly than previously expected, but they also expect the trend to be short-lived.

Retail sales were expected to show a 0.6% rise in February, according to the Dow Jones consensus estimate.

The University of Michigan's Survey of Consumers was expected to show a reading of 63.2 for March.

The producer price index was expected to rise 0.3% in February, according to the Dow Jones consensus forecast.

essent said the administration is attentive to market moves, he predicted that both the economy and markets would prosper over time.

On the surface, February's inflation data released this week brought some encouraging news.

The core consumer price index was expected to increase 0.3% in February and 3.2% from a year ago.

The U.S. debt and deficit problem worsened during President Donald Trump's first month in office.