Gary Siegel

Economic recovery has been slow and still faces threats, yet 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 L. George.

The Treasury Department Monday auctioned $32 billion of three-year notes with a 1/4% coupon at a 0.370% yield, a price of 99.642968.

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.105% high yield, a price of 99.893833.

The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.000% high yield, a price of 100.000000.

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

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 and CEO John C. Williams said Tuesday.

The Conference Board’s employment trends index grew to 104.32 in December from 103.64 in November, and is up 4.7% from a year ago, the group announced Monday.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.010% high rate, down from 0.015% the prior week, and the six-months incurred a 0.050% high rate, off from 0.055% the week before.

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

The Conference Board’s Employment Trends Index (ETI) grew to 104.32 in December from a downwardly revised 103.64 in November, originally reported as 103.70, and is up 4.7% from a year ago, the group announced Monday.

The moderate recovery will continue this year, but a housing plan put forth by the Federal Reserve in a white paper this week could help boost the economy, Fed governor Elizabeth Duke said Friday.

The recovery remains slow, in part, as a result of the poor condition of household finances, which has stagnated new business formation, Federal Reserve Bank of Boston president and chief executive officer Eric Rosengren said Friday, suggesting the Fed could promote better recovery through stronger growth.

The Federal Reserve should consider further accommodation if the benefits outweigh the costs, Federal Reserve Bank of New York president William Dudley said Friday.

Newly issued Treasury securities held in stripped form decreased about $1.059 billion in December to a total of $195.464 billion, the Bureau of the Public Debt reported Friday.

The moderate recovery will continue this year, but a housing plan put forth by the Federal Reserve in a white paper this week could help boost the economy, Federal Reserve Board Governor Elizabeth Duke said Friday.

The recovery remains slow, in part, as a result of the poor condition of household finances, which has stagnated new business formation, Federal Reserve Bank of Boston President & Chief Executive Officer Eric S. Rosengren said Friday, and he suggested the Fed could promote better recovery through stronger growth.

The Federal Reserve should consider further accommodation if the benefits outweigh the costs, Federal Reserve Bank of New York President William C. Dudley said Friday.

U.S. inflationary pressures were slightly higher in December, as the U.S. future inflation gauge crept to 98.6 from a revised 98.4 in November, originally reported as 98.3, according to data released Friday morning by the Economic Cycle Research Institute.

The Conference Board said it made the following benchmark revisions to how it calculates the leading economic indicators.

The U.S. services sector expanded at a quicker pace in December as the non-manufacturing business activity composite index was 52.6 in the month, compared to 52.0 in November, on a seasonally adjusted basis, the Institute for Supply Management reported Thursday.