Gary Siegel

Builders' confidence in the market for new single-family homes fell as the National Association of Home Builders' housing market index - a monthly gauge of builder sentiment - dipped to 56 in January from a revised 57 in December, first reported as 58.

The Chicago Purchasing Managers' Business Barometer annual revisions moved December's reading to 60.8 in from the 59.1 initially reported, the National Association of Purchasing Management-Chicago said Thursday.

While recent experience indicates zero lower bound (ZLB) is a bigger problem than believed, but forward guidance, large-scale asset purchases, and sometimes fiscal policy can offset the issues, Federal Reserve Bank of San Francisco President John C. Williams wrote in a paper presented Thursday.

Initial jobless claims dropped 2,000 to 326,000 in the week ended January 11, the Labor Department said Thursday.

Moderate expansion with a positive outlook was reported by most regions, according to the Federal Reserve's Beige Book report, released Wednesday.

Low inflation suggest it will be "appropriate" to keep the Fed funds rate low for "quite some time," according to Federal Reserve Bank of Chicago President and Chief Executive Officer Charles L. Evans, who backed a change in forward guidance to show the Federal Open Market Committee is "in no hurry to raise rates."

The Empire State Manufacturing Survey showed "business activity expanded for New York manufacturers, and did so at a faster pace than in recent months," the Federal Reserve Bank of New York reported Monday as the general business conditions index grew to 12.51 in January from 2.22 in December.

The Federal Open Market Committee's decision to taper bond purchases "pleased" Federal Reserve Bank of Dallas President and CEO Richard W. Fisher, who said Tuesday he would have preferred a larger taper and he will push to end asset purchases as quickly as possible.

The economy has reached the "significant improvement in labor market conditions" that the Federal Open Market Committee set as the criteria to end quantitative easing, and the start of tapering is a positive move, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said Tuesday.

The Treasury Department Tuesday auctioned $15 billion of four-week bills at a zero high yield, a price of par.

The year 2014 should provide a transition, with GDP growing 2.5% to 3.0% this year, setting the stage for further tapering, Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis Lockhart said Monday.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.035% high rate, down from 0.055% the prior week, and the six-months incurred a 0.055% high rate, down from 0.080% the week before.

Americans' expectations of inflation and home prices haven't changed in the past few months, according to the initial Survey of Consumer Expectations by the Federal Reserve Bank of New York.

The Treasury Department said Monday it will sell $15 billion of four-week discount bills Tuesday.

The Conference Board's Employment Trends Index (ETI) gained to 115.76 in December from an upwardly revised 115.72 in November, and is up 5.2% from a year ago, the group announced Monday.

Inflation, which surprised to the downside last year "remains a wildcard" for the Federal Open Market Committee this year, according to St. Louis Federal Reserve Bank President James Bullard.

U.S. inflationary pressures were slightly higher in December, as the U.S. future inflation gauge climbed to 100.7 from the revised November 100.4 reading, originally reported 100.3, according to data released Friday morning by the Economic Cycle Research Institute.

While supporting the Federal Open Market Committee's decision to cut asset purchased by $10 billion a month, Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther L. George called it a "modest" but "important" step toward normalization.

The Treasury Department Thursday auctioned $13 billion of 29-year 10-month bonds with a 3 3/4% coupon at a 3.899% high yield, a price of 97.378077.

The Treasury Department said Thursday it will auction $28 billion 91-day bills and $26 billion 182-day discount bills Monday.