Gary Siegel

NEW YORK - The Chicago Fed Midwest Manufacturing Index rose 1.3% in February to a seasonally adjusted level of 83.3, as the steel, machinery, and auto sectors all showed improvement, the Federal Reserve Bank of Chicago reported Wednesday.

NEW YORK - Mortgage applications dropped 2.0% in the week ended April 1, as refinancings fell, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey.

The U.S. services sector expanded at a slower pace in March.

The shock to the economy from the residential housing market’s decline was so severe that the ensuing recession was going to be painful and challenging, “regardless of the policy response,” Federal Reserve Bank of Minneapolis president Narayana Kocherlakota told a workshop at the bank Tuesday.

Though a few members of the Federal Open Market Committee were uncertain about the benefits of buying $600 billion of longer-term Treasury securities by mid-year, they felt that the time was “not appropriate” to change quantitative easing at this point, according to minutes of the Feb. 15 FOMC meeting.

NEW YORK – Although a “few” members of the Federal Open Market Committee were “uncertain” about the benefits of buying $600 billion of longer-term Treasury securities by mid-year, they felt that the time was “not appropriate” to change the quantitative easing at this point, according to minutes of the Feb. 15 FOMC meeting.

NEW YORK – The shock to the economy from the residential housing market’s decline was so severe that the ensuing recession was going to be painful and challenging, “regardless of the policy response,” Federal Reserve Bank of Minneapolis President Narayana Kocherlakota told a workshop at the bank Tuesday.

NEW YORK - The Treasury Department Tuesday auctioned $24 billion of 364-day bills at a 0.280% high yield, a price of 99.716889.

NEW YORK - The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.050% high yield, a price of 99.996111.

NEW YORK – The U.S. services sector expanded at a slower pace in March as the non-manufacturing business activity composite index was 57.3 in March, compared to 59.7 in February, on a seasonally adjusted basis, the Institute for Supply Management reported Tuesday.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.050% high rate, off from 0.100% the previous week, and the six-months incurred a 0.130% high rate, down from 0.170%.

The Conference Board’s employment trends index rose to 100.9 in February from a downwardly revised 100.3 in February, originally reported as 101.7, and is up 8% from a year ago, the group announced Monday.

NEW YORK - Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.050% high rate, off from 0.100% the prior week, and the six-months incurred a 0.130% high rate, down from 0.170% the week before.

NEW YORK - The Treasury Department said Monday it will sell $40 billion of four-week discount bills Tuesday.

NEW YORK – The Conference Board’s Employment Trends Index (ETI) rose to 100.9 in February from a downwardly revised 100.3 in February, originally reported as 101.7, and is up 8% from a year ago, the group announced Monday.

When discussing the exit from monetary policy accommodation, the question isn’t whether the Fed has the tools — the more important aspects are the timing and the pace, Federal Reserve Bank of Philadelphia president Charles I. Plosser said Friday.

The overall economy grew for the 22nd straight time, while the manufacturing sector expanded for the 20th time, the Institute for Supply Management reported Friday.

SAN JUAN, Puerto Rico - New York Federal Reserve Bank President William Dudley said Friday that the Fed "can be patient" about withdrawing monetary stimulus so long as people remain confident in the Fed's ability and will to do so and so long as inflation expectations remain well-anchored.

NEW YORK - U.S. inflationary pressures were higher in March, as the U.S. future inflation gauge grew to 104.9 from a revised 103.6 in February, originally reported as 102.1, according to data released this morning by the Economic Cycle Research Institute.

NEW YORK – The overall economy grew for the twenty-second straight time, while the manufacturing sector expanded for the twentieth time, the Institute for Supply Management reported Friday.