Exhibit (j) under Form N-1A
                                            Exhibit (23) under Item 601/Reg. S-K


   Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm


We  consent  to the  references  to  our  firm  under  the  captions  "Financial
Highlights" in the Institutional  Shares,  Institutional Service Shares, Class A
Shares,  and Class Y Shares  Prospectuses  and  "Independent  Registered  Public
Accounting  Firm" in the  Statement  of  Additional  Information  for  Federated
Short-Term Income Fund in Post-Effective Amendment Number 54 to the Registration
Statement  (Form N-1A, No. 33-3164) of Federated  Short-Term  Income Fund and to
the  incorporation by reference of our report,  dated June 8, 2005, on Federated
Short-Term  Income Fund (one of the portfolios  comprising the Federated  Income
Securities  Trust) included in the Annual Report to Shareholders  for the fiscal
year ended April 30, 2005.



                                                   ERNST & YOUNG LLP


Boston, Massachusetts
June 24, 2005