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Breaking News

Housing Starts up 1.5 Percent; CPI at 0.3 Percent

Aired May 16, 2001 - 08:31   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL LIN, CNN ANCHOR: Some fresh numbers are just in right now. Housing starts are up 1.5 percent. These numbers are just in -- the economy is still rolling along. The consumer price index is better than expected, at 0.3 percent.

The consumer price index is an important economic indicator as to whether people are still spending, and housing starts are important, of course, because people out there are still buying houses, especially with these low interest rates.

The Federal Reserve Board, however, is less worried about inflation right now and is still worried about keeping the economy moving along -- and thus yesterday's half point rate cut.

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