Gary Siegel

The U.S. economy is recovering and monetary policy remains accommodative, but the crisis in Greece needs to be watched because it is already causing volatility in world markets, Federal Reserve Bank of St. Louis president James Bullard said yesterday.

NEW YORK - The Treasury Department today sold $25 billion 56-day cash management bills, dated May 13, due July 8, at a 0.150% high tender rate.

With public sentiment expecting higher inflation, the Fed must not wait “too long” to raise the federal funds rate target, Federal Reserve Bank of Richmond President Jeffrey Lacker said yesterday.

NEW YORK – With the public sentiment expecting inflation to rise, the Fed mus not wait “too long” to raise the Fed funds rate target, Federal Reserve Bank of Richmond President Jeffrey M. Lacker said today.

NEW YORK - The Treasury Department today auctioned $38 billion of three-year notes with a 1 3/8% coupon at a 1.414% yield, a price of 99.885991.

NEW YORK - The Treasury Department today auctioned $31 billion of four-week bills at a 0.150% high yield, a price of 99.988333.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower yesterday, as the three-months incurred a 0.155% high rate, down from 0.165% the week before, and the six-months incurred a 0.230% high rate, down from 0.245%.

The Conference Board’s employment trends index rose 0.9% to 94.7 in April, from a revised 93.9 in March, and is up 7.1% from a year ago, the group announced yesterday. The March reading was initially reported as 94.4.

Financial crises and bailouts are inevitable and legislators should focus on containing them rather than trying to prevent them completely, Federal Reserve Bank of Minneapolis president Narayana Kocherlakota said yesterday.

NEW YORK – Like death and taxes, crises and bailouts are inevitable, and regulatory reform will not change that, so legislation should instead focus on limiting their magnitude by taxes on financial institutions, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said today.

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 0.155% high rate, down from 0.165% the prior week, and the six-months incurred a 0.230% high rate, down from 0.245% the week before.

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

NEW YORK - The Treasury Department said it will sell $31 billion of four-week discount bills tomorrow.

NEW YORK – The Conference Board’s Employment Trends Index (ETI) rose 0.9% to 94.7 in April, from a revised flat 93.9 in March, which was originally reported as a 0.7% rise to 94.4, and is up 7.1% from a year ago, the group announced today.

U.S. inflationary pressures were higher in April as the U.S. future inflation gauge rose to 100.8 from a downwardly revised 101.0 in March, according to data released Friday by the Economic Cycle Research Institute.

The fed funds target rate will have to go up “well before” the labor market fully recovers, Federal Reserve Bank of Philadelphia president Charles I. Plosser said Friday.

NEW YORK – With inflation in check, and little risk of deflation, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said today the fed funds target rate will have to go up “well before” the labor market fully recovers.

NEW YORK - U.S. inflationary pressures were higher in April as the U.S. future inflation gauge rose to 100.8 from a downwardly revised 101.0 in March, according to data released this morning by the Economic Cycle Research Institute.

While recent economic indicators provided much good news, it could be “several years” before the economy rebounds completely from the recession, Federal Reserve Bank of Richmond president Jeffrey M. Lacker said yesterday.

Auditing monetary policy decisions, as currently proposed, “could diminish the independence of the Fed,” Federal Reserve Bank of St. Louis president James Bullard said yesterday.