The 25 bps rate increase is a gamble that the banking crisis can be contained.

"Nobody wants to be systemic when it comes time for regulation, and everybody wants to be systemic when it comes time for bailouts."

A proposed SEC climate reporting requirement has legal experts worried about the litigation risk for companies that don't have a robust team in place for tracking emissions data.

In February, housing costs helped deliver a larger-than-forecast 0.5% gain in so-called core inflation, which excludes food and energy