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US housing market picks up, inflation pressures muted

Data is supportive of Fed's slow approach to exiting monetary accommodation
Wednesday, August 20, 2014 - 06:00

[WASHINGTON] US housing starts rebounded strongly in July, pointing to momentum in the economy, but a moderate increase in consumer prices suggested the Federal Reserve has room to keep interest rates low for a while. Groundbreaking surged 15.7 per cent last month to a seasonally adjusted annual