Fed Chair Jerome Powell commented this week that "inflation is much too high" and the Fed would raise policy rates until it is under control.

Supply chain issues caused factory durable goods orders to fall more than expected in February, snapping a 5-month streak of increases.

Last week's jobless numbers hit the lowest level since 1969. Fed Chairman Powell described the labor market as "tight to an unhealthy level."

February’s existing home sales fell more than expected, down 7.2% from January, as mortgage rates rose and supply remained tight.

New home sales also dropped in February, falling 2% for a second straight monthly decline. They were still above their pre-pandemic level.

Quickly rising mortgage rates contributed to a 2% decline in purchase applications last week. Apps were 12% lower year over year.