Gary Siegel

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

The Empire State Manufacturing Survey showed “manufacturing activity expanded in New York State in January,” the Federal Reserve Bank of New York reported Tuesday as the general business conditions index improved to 13.48 in January from 8.19 in December.

The University of Michigan’s preliminary January consumer sentiment index reading was 74.0 compared to the final December 69.9, according to market sources.

Monetary policy does not influence economic activity as much as people think, Federal Reserve Bank of Richmond president Jeffrey Lacker said Friday.

The Fed is not achieving either part of its dual mandate, Federal Reserve Bank of Chicago president and chief executive officer Charles Evans repeated Friday, according to prepared text of a speech for delivery to the Indiana Bankers Association Economic Outlook Forum, which was practically the same as his speech earlier in the week to an Illinois Rotary Club gathering.

Noting that his forecast for growth of 3.0% in 2011 missed dramatically, Federal Reserve Bank of Richmond President Jeffrey M. Lacker said he sees a “growing sense that there are relatively persistent impediments holding back economic expansion,” especially the housing market.

Protecting the financial system has “costs,” but despite that, regulators should try to minimize costs, Federal Reserve Board Governor Elizabeth A. Duke said Friday.

The University of Michigan's preliminary January consumer sentiment index reading was 74.0, compared to the final December 69.9, the preliminary December 67.7, and the final November 64.1, according to market sources.

The Treasury Department today auctioned $13 billion of 29-year 10-month bonds with a 3 1/8% coupon at a 2.985% high yield, a price of 102.746849.

The Treasury Department said it will sell $15 billion 10-year inflation-indexed bonds on Thursday, Jan. 19.

The Treasury Department said Thursday it will auction $29 billion 91-day bills and $27 billion 182-day discount bills Tuesday.

The European Central Bank announced its Governing Council held interest rates at its latest monetary policy meeting Thursday.

Despite its promises, economic conditions may force the Fed to raise rates before the middle of next year, according to Federal Reserve Bank of Philadelphia president and chief executive officer Charles Plosser.

The Fed is not achieving either part of its dual mandate, Federal Reserve Bank of Chicago president and chief executive officer Charles Evans said Wednesday.

The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 2% coupon at a 1.900% high yield, a price of 100.890462.

Despite its promises, economic conditions may force the Fed to raise rates before the middle of next year, according to Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser.

The Fed is not achieving either portion of its dual mandate, Federal Reserve Bank of Chicago President and Chief Executive Officer Charles L. Evans said Wednesday.

The “notably weak” economic recovery will continue, with “frustratingly slow” growth despite the Fed’s efforts because they lack complementary tax and spending policies, Federal Reserve Bank of San Francisco president John Williams said Tuesday.

While obstacles remain to recovery, Federal Reserve Bank of Cleveland president Sandra Pianalto said Tuesday that the United States is near price stability but remains far from the 6% unemployment rate she views as full employment.

Economic recovery has been slow and still faces threats, but the key to reaching a balanced and sustained recovery may be making “difficult, but necessary, adjustments,” according to Federal Reserve Bank of Kansas City president and chief executive officer Esther George.