Gary Siegel

Not only wouldn’t further monetary policy accommodation help the economy, it would make the Federal Reserve complicit with the federal government’s “mischief,” Federal Reserve Bank of Dallas president Richard W. Fisher said Tuesday.

Despite signals of a “global slowdown,” and mixed economic data in the U.S., the Federal Reserve should continue its “wait-and-see” approach to monetary policy, Federal Reserve Bank of St. Louis President James Bullard said Tuesday.

The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.040% high yield, a price of 99.996889.

The U.S. services sector expanded at a slightly faster pace in May as the non-manufacturing business activity composite index was 53.7 in the month, compared to 53.5 in April, on a seasonally adjusted basis, the Institute for Supply Management reported Tuesday.

Not only wouldn’t further monetary policy accommodation help the economy, it would make the Federal Reserve complicit with the federal government’s “mischief,” Federal Reserve Bank of Dallas President and CEO Richard W. Fisher said Tuesday.

The U.S. economy should continue to improve, with real growth in gross domestic product expected to be 2.3% this year and 2.6% next year, according to a Federal Reserve Bank of Chicago symposium consensus opinion.

The Conference Board’s employment trends index crept up 0.29% to 108.34 in May from a downwardly revised 108.03 in April, and is up 7.6% from a year ago, the group announced Monday.

New York City business activity contracted in May as the current business conditions index fell to a six-month low of 49.9 in May from 61.2 in April, according to the Institute for Supply Management-New York’s report on business index, released Monday.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.075% high rate, down from 0.085% the prior week, and the six-months incurred a 0.130% high rate, off from 0.140% the week before.

The Treasury Department said Monday it will sell $30 billion of four-week discount bills Tuesday.

The U.S. economy should continue to improve, with real GDP growth expected to be 2.3% this year and 2.6% next year, according to a Chicago Federal Reserve Bank symposium consensus opinion.

The Conference Board’s Employment Trends Index (ETI) crept up 0.29% to 108.34 in May from a downwardly revised 108.03 in April, originally reported as 108.04, and is up 7.6% from a year ago, the group announced Monday.

New York City business activity contracted in May as the current business conditions index fell to a six-month low of 49.9 in May from 61.2 in April, the Institute for Supply Management-New York’s Report on Business index, released Monday, indicated.

The overall economy grew for the thirty-sixth straight time, while the manufacturing sector expanded for the thirty-fourth time, the Institute for Supply Management reported Friday.

U.S. inflationary pressures were slightly higher in May, as the U.S. future inflation gauge climbed to 102.3 from an upwardly revised 101.4 in April, originally reported as 101.2, according to data released Friday morning by the Economic Cycle Research Institute.

The overall economy grew for the thirty-sixth straight time, while the manufacturing sector expanded for the thirty-fourth time, the Institute for Supply Management reported Friday.

The Chicago Purchasing Managers’ Business Barometer dropped to 52.7 in May, its third straight decline and its lowest level since September 2009, the National Association of Purchasing Management-Chicago said Thursday.

Monetary policy must evolve based on Federal Open Market Committee projections, Federal Reserve Bank of Cleveland president Sandra Pianalto said Thursday.

The Treasury Department said Thursday it will auction $30 billion 91-day bills and $27 billion 182-day discount bills Monday.

The Chicago Purchasing Managers’ Business Barometer dropped to 52.7 in May, its third straight decline and its lowest level since September 2009, from 56.2 in April, the National Association of Purchasing Management-Chicago said Thursday.