Gary Siegel

The federal funds rate cannot remain zero forever, and it should be raised “sooner rather than later” Federal Reserve Bank of Kansas City president Thomas Hoenig said yesterday.

While many economic forecasters predict real gross domestic product will grow at a 3% pace this year and a 4% pace in 2011, Federal Reserve Bank of Minneapolis president Narayana Kocherlakota said yesterday he believes growth will be a little slower, averaging 3% over the next two years.

NEW YORK – Many private forecasters and the Federal Open Market Committee predict real gross domestic product will grow at a 3% pace this year and 4% next year, but Federal Reserve Bank of Minneapolis President Narayana R. Kocherlakota said today he believes growth will be a little slower, averaging 3% over the next two years.

NEW YORK - The Treasury Department today auctioned $31 billion of four-week bills at a 0.080% high yield, a price of 99.993778.

NEW YORK – The fed funds rate can’t remain zero forever, and it should be raised “sooner rather than later” Federal Reserve Bank of Kansas City President Thomas Hoenig said today.

About 3,957,000 online job postings appeared on leading Internet job boards in February, a 66,900 decrease from January’s 4,023,900, the Conference Board reported yesterday.

The overall economy grew for the tenth straight time while the manufacturing sector expanded for the seventh time, the Institute for Supply Management reported yesterday. The ISM index dipped to 56.5 in February from 58.4 in January.

Financial system health depends on the return of market discipline, Federal Reserve Bank of Richmond president Jeffrey Lacker said yesterday.

Federal Reserve Board vice chairman Donald L. Kohn yesterday announced he intends to resign when his term expires on June 23, the Fed said.

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 0.125% high rate, up from 0.100% the prior week, and the six-months incurred a 0.185% 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, March 3.

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

NEW YORK – About 3,957,000 online job postings appeared on leading Internet job boards in February, a 66,900 decrease from January's 4,023,900, The Conference Board reported today.

NEW YORK - The overall economy grew for the tenth straight time after seven months of contraction, while the manufacturing sector expanded for the seventh time after eighteenth months of contraction, the Institute for Supply Management reported this morning.

NEW YORK – Federal Reserve Board Vice Chairman Donald L. Kohn today announced his intention to resign when his tem expires on June 23 in a letter to President Obama, the Fed said.

NEW YORK – Financial system health depends on the return of market discipline, Federal Reserve Bank of Richmond President Jeffrey Lacker said today.

The University of Michigan’s final February consumer sentiment index reading was 73.6, compared to the preliminary February 73.7 reading and the final January 74.4.

New York City business activity expanded again in February, the Institute for Supply Management-New York’s Report on Business current business conditions index indicated.

The Chicago Purchasing Managers’ Business Barometer rose to 62.6 in February from 61.5 in January, the National Association of Purchasing Management-Chicago said Friday.

NEW YORK – The link between the fed funds rate and financial indicators must be stable and predictable in order to predict future economic activity, Federal Reserve Bank of New York President William C. Dudley said today.