Gary Siegel

With monetary policy quite accommodative and the economy performing better than expected, the Federal Open Market Committee is “on pause,” but needs to be wary that it doesn’t spark inflation, Federal Reserve Bank of St. Louis president James Bullard said Wednesday.

The forward guidance of easy monetary policy through 2014 is “subject to revision” if “significant” improvement is seen in the economy, according to minutes of the most recent Federal Open Market Committee meeting, released Wednesday.

The forward guidance of easy monetary policy through 2014 is “subject to revision” should “significant” improvement is seen in the economy, according to minutes of the most recent Federal Open Market Committee meeting, released Wednesday.

With monetary policy quite accommodative and the economy performing better than expected since Fall, the Federal Open Market Committee is “on pause,” but needs to be wary that it doesn’t spark inflation, Federal Reserve Bank of St. Louis President James Bullard said Wednesday.

Industrial production was gained 1.1% in April, while capacity use increased to 79.2%, the Federal Reserve reported Tuesday.

Builders’ confidence in the market for new single-family homes declined as the National Association of Home Builders’ housing market index surged to 29 in April from 25 in April.

The Empire State Manufacturing Survey showed manufacturing activity “expanded” in New York State, the Federal Reserve Bank of New York said Tuesday, as the general business conditions index rose to 17.09 in May from 6.56 in April.

The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.075% high yield, a price of 99.994167.

Builders’ confidence in the market for new single-family homes declined as the National Association of Home Builders' housing market index - a monthly gauge of builder sentiment – surged to 29 in April from 25 in April.

The Empire State Manufacturing Survey showed manufacturing activity “expanded” in New York State, the Federal Reserve Bank of New York reported Tuesday as the general business conditions index spiked to 17.09 in May from 6.56 in April.

The Treasury Department said Monday it will sell $30 billion of four-week discount bills Tuesday. There are currently $60.000 billion of four-week bills outstanding.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.095% high rate, up from 0.090% the prior week, and the six-months incurred a 0.145% high rate, unchanged from 0.145%.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.095% high rate, up from 0.090% the prior week, and the six-months incurred a 0.145% high rate, unchanged from 0.145% the week before.

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

The University of Michigan’s preliminary May consumer sentiment index reading was 77.8, up from the final April 76.4, the preliminary April 75.8 and the final March 76.2, according to market sources.

Almost three out of four professional forecasters expect inflation to be near the Federal Open Market Committee’s 2% target, according to the Survey of Professional Forecasters released by the Federal Reserve Bank of Philadelphia Friday.

Almost three out of four professional forecasters surveyed expect inflation to be near the 2% the Federal Open Market Committee targets, according to the Survey of Professional Forecasters, released by the Federal Reserve Bank of Philadelphia Friday.

The University of Michigan's preliminary May consumer sentiment index reading was 77.8, compared to the final April 76.4, the preliminary April 75.8, and the final March 76.2, according to market sources.

The labor markets are closer to full employment than data suggest, Federal Reserve Bank of Minneapolis president Narayana Kocherlakota told the Economic Club of Minnesota Thursday.

The labor markets are closer to full employment than data suggest, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Thursday.