Gary Siegel

NEW YORK - The Treasury Department said it will sell $26 billion of four-week discount bills tomorrow.

NEW YORK – It is too soon to determine the end of the recession, according to the Business Cycle Dating Committee of the National Bureau of Economic Research.

U.S. economic growth will remain moderate, which will keep jobless rates high, Federal Reserve Board vice chairman Donald Kohn said late Thursday.

The lessons learned from the Great Depression were useful in preventing "an even worse cataclysm" that could have resulted from the recent financial crisis, Federal Reserve Board chairman Ben Bernanke said last week.

NEW YORK – The lessons learned from the Great Depression were useful in preventing “an even worse cataclysm” that could have resulted from the recent financial crisis, Federal Reserve Board Chairman Ben S. Bernanke said late Thursday.

NEW YORK – U.S. Economic growth will remain moderate, which will keep jobless rates high, Federal Reserve Board Vice Chairman Donald Kohn said late Thursday.

The Treasury Department yesterday auctioned $13 billion of 29-year, 10-month bonds with a 4 5/8% coupon at a 4.770% high yield, a price of 97.692939.

The European Central Bank announced that its Governing Council held interest rates at current levels at yesterday's monetary policy meeting.

While the Federal Reserve has been laying the groundwork to allow it to raise interest rates when appropriate, the termination of special liquidity facilities "need not be followed in short order by the initiation of tightening measures," Fed governor Daniel K. Tarullo said yesterday.

NEW YORK - The Treasury Department today auctioned $13 billion of 29-year, 10-month bonds with a 4 5/8% coupon at a 4.770% high yield, a price of 97.692939.

NEW YORK - The Treasury Department said today it will auction $26 billion 91-day bills and $27 billion 182-day discount bills Monday.

NEW YORK – While the Federal Reserve has been laying the groundwork to allow it to raise interest rates when appropriate, the termination of special liquidity facilities “need not be followed in short order by the initiation of tightening measures,” Federal Reserve Board Governor Daniel K. Tarullo told community bankers in New York today.

NEW YORK - The European Central Bank announced its Governing Council held interest rates at current levels at its latest monetary policy meeting this morning.

Asset bubbles are unique and difficult to identify, and while studying how central banks should respond, perhaps the best ways to attack them may be "bully pulpit and macro-prudential tools, such as rules limiting loan-to-value ratios or leverage," Federal Reserve Bank of New York president and chief executive officer William C. Dudley said yesterday.

Preferring to move too soon rather than too late, Federal Reserve Bank of Kansas City president Thomas M. Hoenig yesterday suggested the Federal Open Market Committee "initiate sometime soon" a move toward a 1% federal funds rate target, with added rate hikes dependent on "how economic and financial conditions develop."

Though the financial crisis appears "mostly behind us," with the economy stabilizing and showing some growth, the U.S. faces "daunting" challenges on the economic front, Federal Reserve Board chairman Ben S. Bernanke said yesterday.

NEW YORK – Preferring to move too soon, rather than too late, Federal Reserve Bank of Kansas City President Thomas M. Hoenig today suggested the Federal Open Market Committee “initiate sometime soon” a move toward a 1% Federal funds rate target, with added rate hikes dependent on “how economic and financial conditions develop.”

NEW YORK – Although the financial crisis appears “mostly behind us,” with the economy stabilizing and showing some growth, the U.S. faces “daunting” challenges on the economic front, Federal Reserve Board Chairman Ben S. Bernanke said today.

NEW YORK - The Treasury Department auctioned $21 billion of 9-year, 10-month notes with a 3 5/8% coupon at a 3.900% high yield, a price of 97.763192.

NEW YORK – Asset bubbles are unique and difficult to identify, and while studying how central banks should respond, perhaps the best ways to attack them may be “bully pulpit and macro-prudential tools, such as rules limiting loan-to-value ratios or leverage,” Federal Reserve Bank of New York President and Chief Executive Officer William C. Dudley said today.