Gary Siegel

Richard Fisher, president of the Federal Reserve Bank of Dallas, said Wednesday that the Fed should discontinue its Treasury purchases.

WASHINGTON – The U.S. government recorded an $80.0 billion deficit in December, the Treasury Department reported Wednesday.

NEW YORK - The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 2 5/8% coupon at a 3.388% high yield, a price of 93.664061.

NEW YORK – The Federal Reserve should not continue Treasury purchases, Federal Reserve Bank of Dallas President and CEO Richard W. Fisher told an audience in New York Wednesday.

NEW YORK - The Treasury Department Wednesday sold $25 billion 56-day cash management bills, dated January 13, due March 10, at a 0.155% high tender rate.

Falling property prices were the underlying cause of the recent recession, according to Federal Reserve Bank of Minneapolis president Narayana Kocherlakota.

The Federal Reserve’s accommodative policy may prove problematic without steps to remove accommodation, Federal Reserve Bank of Philadelphia president Charles Plosser said Tuesday.

NEW YORK – The underlying cause of the recent recession, the drop in land prices, dictated a painful, challenging period regardless of any policy response, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Tuesday.

NEW YORK - The Treasury Department today auctioned $32 billion of three-year notes with a 1% coupon at a 1.027% yield, a price of 99.920611.

NEW YORK - The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.145% high yield, a price of 99.988722.

NEW YORK - The Treasury Department Tuesday auctioned $22 billion of 364-day bills at a 0.275% high yield, a price of 99.721944.

NEW YORK – The Federal Reserve’s accommodative policy “may soon backfire” unless steps are taken to remove accommodation, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said Tuesday.

NEW YORK – Chain store sales dropped 3.2% in the week ended Jan. 8, as consumers abandoned stores after the holidays, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:

The Chicago Purchasing Managers’ Business Barometer was revised downward to a December reading of 66.8 from a previous level of 68.6, the National Association of Purchasing Management-Chicago said Monday.

Dennis Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, said the 18-month-old economic recovery gained momentum heading into 2011, but could be restrained by uncertainty.

The Conference Board’s employment trends index rose to 99.0 in December from 98.5 in November and is up 7.6% from a year ago, the group announced Monday. The November reading was revised downward from an initial level of 99.0.

NEW YORK – The year-and-a-half-old economic recovery has momentum heading into 2011, but could be restrained by uncertainty, which continues told hold back spending, ongoing credit market repair and “consumer spending and the interplay between household finances and the housing market,” according to Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis P. Lockhart.

NEW YORK - Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.150% high rate, unchanged from 0.150% the prior week, and the six-months incurred a 0.180% high rate, off from 0.190% the week before.

NEW YORK - The Treasury Department said it will auction $25 billion 56-day cash management bills on Wednesday, January 12.

NEW YORK - The Treasury Department said Monday it will sell $25 billion of four-week discount bills Tuesday.