Gary Siegel

The U.S failed to take advantage of three great opportunities during a period of "unprecedented liquidity and low interest," by not reforming Social Security and Medicare, not passing strong regulatory reforms, and by not restructuring government debt, Federal Reserve Bank of Dallas President Richard Fisher said Wednesday

The economy continued to improve modestly to moderately through early February, although weather dampened activity, according to the Beige Book, released by the Federal Reserve on Wednesday.

The U.S. services sector expanded at a slightly slower pace in February as the non-manufacturing business activity composite index was 51.6 in the month, compared to 54.0 in January, on a seasonally adjusted basis, the Institute for Supply Management reported Wednesday.

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.045% high yield, a price of 99.996500.

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.120% high yield, a price of 99.878667.

New York City business activity grew at a slower pace in February, as the current business conditions index dropped to 57.0 from 64.4 in January, the Institute for Supply Management-New York's Report on Business index, released Tuesday, indicated.

The Federal Reserve will raise interest rates in the middle of next year, Federal Reserve Bank of San Francisco President John Williams predicted, and suggested verbal forward guidance should replace numerical guidance.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.050% high rate, up from 0.045% the prior week, and the six-months incurred a 0.080% high rate, up from 0.075% the week before.

The Treasury Department said Monday it will sell $35 billion of four-week discount bills Tuesday.

Construction spending rose 0.1% in January, the Commerce Department said, 9.3% above the January 2013 level.

The overall economy grew for the fifty-seventh straight time, while the manufacturing sector expanded for the ninth consecutive month, the Institute for Supply Management reported Monday.

Personal income rose 0.3% or $43.9 billion in January following an unrevised flat reading in December, the Commerce Department reported Monday.

Clear communication is required for effective monetary policy strategy, Federal Reserve Bank of Chicago President and Chief Executive Officer Charles L. Evans said Friday.

The Federal Open Market Committee must decide what the purpose of forward guidance is going to be, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said Friday.

The Treasury Department Tuesday sold $20 billion 66-day cash management bills, dated March 3, due May 8, at a 0.050% high tender rate.

Supervisory tools are the optimal way to lessen risks of instability from easy money policy, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Friday.

Pending home sales inched up 0.1% to an index reading of 95.0 in January, after a revised 5.8% decline to 94.9 in December, according to a report released Friday by the National Association of Realtors.

The University of Michigan's final February consumer sentiment index reading was 81.6, compared to the preliminary February 81.2, the final January 81.2, and the preliminary January 82.5, according to market sources.

The Chicago Purchasing Managers' Business Barometer inched up to 59.8 in February from 59.6 in January, the National Association of Purchasing Management-Chicago said Friday.

Preliminary fourth quarter gross domestic product rose 2.4%, down from the advance estimate of 3.2% growth, the Commerce Department reported Friday.