Gary Siegel

The Federal Reserve’s ability to accomplish its dual mandate could be “undermined” by blurring the lines between monetary, fiscal and credit policy, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said Friday.

It’s “plausible” that individuals who were able to respond to low yields have done so, and further policy actions will not help those who have yet to respond, according to Federal Reserve Bank of St. Louis President and CEO James Bullard.

It makes sense to target “problem areas” of the economy rather than take across-the-board actions, Federal Reserve Bank of San Francisco President and CEO John C. Williams said Friday.

The University of Michigan's final February consumer sentiment index reading was 75.3, compared to the preliminary February 72.5, the final January 75.0, and the preliminary January 74.0 reading, according to market sources.

Claiming that the economy is doing better than the improving numbers suggest, Federal Reserve Bank of Dallas president Richard Fisher said talk of additional accommodation is “wishful thinking.”

Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “increased further in February, and expectations also climbed higher,” according to the bank’s monthly manufacturing survey, released Thursday.

The Treasury Department auctioned $29 billion of seven-year notes, with a 1 3/8% coupon, a 1.418% high yield, a price of 99.714418.

The Treasury Department said it will auction $20 billion 49-day cash management bills on Tuesday, Feb. 28.

The Treasury Department said Thursday it will auction $33 billion 91-day bills and $31 billion 182-day discount bills Monday.

Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “increased further in February, and expectations also climbed higher,” according to the bank’s monthly manufacturing survey, released Thursday.

Claiming that the economy is doing better than the improving number suggest, Dallas Federal Reserve Bank President Richard Fisher, said talk of additional accommodation is “wishful thinking.”

The Treasury Department Wednesday auctioned $40 billion of four-week bills at a 0.060% high yield and a price of 99.995333.

The Treasury Department Wednesday auctioned $35 billion of five-year notes, with a 7/8% coupon, a 0.900% high yield and a price of 99.878039.

Inflation expectations ticked up to 1.9% in the coming year from a 1.8% prediction last month, according to the Federal Reserve Bank of Atlanta’s monthly business inflation survey of firms in the Sixth Federal Reserve District.

Existing home sales increased 4.3% in January to a seasonally adjusted 4.57 million-unit rate, after a downwardly revised 4.38 million rate in December, originally reported as 4.61 million units, the National Association of Realtors announced Wednesday.

The Treasury Department auctioned $35 billion of five-year notes, with a 7/8% coupon, a 0.900% high yield, a price of 99.878039.

The Treasury Department Wednesday auctioned $40 billion of four-week bills at a 0.060% high yield, a price of 99.995333.

Inflation expectations ticked up to 1.9% in the comng year from a 1.8% prediction last month, according to the Federal Reserve Bank of Atlanta’s monthly business inflation survey of firms in the Sixth Federal Reserve District.

Existing home sales increased 4.3% in January to a seasonally adjusted 4.57 million-unit rate, after a downwardly revised 4.38 million unit rate in December originally reported as 4.61 million units, the National Association of Realtors announced Wednesday.

The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.310% yield and a price of 99.880464.