Michelle Girard News
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New-home construction in the U.S. climbed in March to the highest level in almost five years, propelled by a surge in multifamily building that will support economic growth.
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Fewer Americans than forecast filed first-time claims for unemployment insurance last week, a signal the U.S. labor market is maintaining its recent progress.
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Six central banks led by the Federal Reserve made it cheaper for banks to borrow dollars in emergencies in a global effort to ease Europe’s sovereign-debt crisis.
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The Federal Reserve could if necessary dig deeper into its toolkit to ease the sovereign-debt crisis in Europe, by cutting the U.S. discount lending rate or restarting a program that auctions loans to banks.
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Housing starts in the U.S. plunged to the lowest level in almost a year in February and wholesale prices rose more than forecast, hurdles for a recovery that the Federal Reserve said yesterday is on a “firmer footing.”
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The Obama administration, concerned about the weakening U.S. recovery, is pushing Congress to approve proposals to stimulate growth in the final two months before congressional elections.
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The index of U.S. leading economic indicators climbed more than forecast in July, and consumer confidence unexpectedly improved this month, signs of sustained expansion in the world’s largest economy.
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The Federal Reserve-led global effort to ease borrowing costs for financial firms shows both the central bank’s power to jolt markets -- and the limits of its ability to alleviate the European debt crisis.
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Federal Reserve officials retained a pledge to keep the benchmark interest rate at a record low for an “extended period” and signaled that European indebtedness may harm American growth.
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