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Fed slightly upgrades view of U.S. economy

The Federal Reserve slightly upgraded its view of the US economy, saying the jobs market and consumer and business spending had improved since January. But it kept its ultra-low interest rate and its liquidity-boosting bond repurchase operations in place, citing the depressed housing sector and the lack of inflationary pressures. The outcome of the…

California economy to slowly improve in 2012: study

LOS ANGELES (Reuters) - California’s economy, the biggest in the United States and the ninth-largest in the world, will see a slight improvement in 2012 but a recovery in the crucial housing market is at least two years away, according to a report released on Wednesday. California was one of states hardest hit by…

U.S. home sales rise for third month

Sales of previously owned homes in the United States surged five percent in December from November, industry data showed Friday, in a report that pointed to recovery in the housing market. Sales of so-called “existing” homes rose to an annual rate of 4.61 million from a downwardly revised 4.39 million in…

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