U.S. News
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The cost of living in the U.S. probably eased in July, consistent with the Federal Reserve’s forecast that inflation will stabilize, economists said before a report this week.
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Treasury yields on debt maturing in 10 years and less fell to all-time lows as the Federal Reserve said economic growth was “considerably slower” than forecast and it would keep borrowing costs on hold through mid-2013.
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President Barack Obama will probably nominate two PhD economists with expertise in finance to serve as governors on the Federal Reserve Board, according to a person familiar with the matter.
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U.S. stocks fell for a third straight week, including the biggest one-day drop since 2008, as Standard & Poor’s reduction of the nation’s credit rating and Europe’s debt crisis fueled concern the economy will falter.
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