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US home construction sinks to new record low
AP - Construction of new homes plunged 4.5 percent last month to the lowest level on government records dating back to 1959, as U.S. builders slashed production while Wall Street nosedived.
Fed sharply lowers forecasts, hints of rate cut
AP - The Federal Reserve on Wednesday sharply lowered its projections for economic activity this year and next, and signaled that additional interest rate reductions may be needed to help combat the worst financial crisis to jolt the country in more than a half-century.
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