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    The Federal Reserve should make a change to its policy statement next month that would allow it to monitor inflation readings through the spring and then hike interest rates some time in the summer, a top Fed official said on Thursday.

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    Leading Republicans are clashing over a signature issue the party has treated as gospel for nearly 40 years: the idea that sharply lower taxes and smaller government are enough by themselves to drive a more prosperous middle class— and win national elections.That simple philosophy has been the foundation of every GOP platform since the days of Ronald Reagan.

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    Leading Republicans are clashing over a signature issue the party has treated as gospel for nearly 40 years: the idea that sharply lower taxes and smaller government are enough by themselves to drive a more prosperous middle class— and win national elections.That simple philosophy has been the foundation of every GOP platform since the days of Ronald Reagan.

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    It is not a great time to be in the business of selling homes. The Commerce Department on Wednesday said that builders in January sold 481,000 new, single-family homes at a seasonally adjusted annual rate. That was near the highest level since 2008, but still well below the levels that prevailed in the 1990 s, much less the early 2000 s.

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    History is a limited guide as Fed prepares to tighten. NEW YORK-- Federal Reserve Chairwoman Janet Yellen did little to change expectations the Federal Reserve will hike interest rates in the second half of 2015, but reassurances that any such move won't be hasty helped lift stocks, albeit modestly, to record levels on Wednesday. The lingering question, though, is what will happen when the Fed pulls the trigger?

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    If you’ ve noticed the steep upward trajectory of the stock market over the past few years, looked around and wondered why cash doesn’ t appear to be raining down upon your friends and neighbors, you’ d be justified in wondering: What’ s going on here? If corporate America is doing so well, shouldn’ t we feel like things are getting better, too? And lately, companies have even...

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    If you’ ve noticed the steep upward trajectory of the stock market over the past few years, looked around and wondered why cash doesn’ t appear to be raining down upon your friends and neighbors, you’ d be justified in wondering: What’ s going on here? If corporate America is doing so well, shouldn’ t we feel like things are getting better, too? And lately, companies have even...

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     . On Tuesday, Federal Reserve Chairwoman Janet Yellen testified in front of a Senate panel, and she continued her testimony on Wednesday, this time in front of a House panel. Yellen has given a preview to the March Fed statement that's positive for investors, Jon Najarian, co-founder of optionmonster.com and trademonster.com, said on CNBC's "Fast Money Halftime" show.

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    Yellen's second day of testimony is acrimonious. WASHINGTON-- Several House Republicans asked Federal Reserve Chairwoman Janet Yellen on Wednesday to release transcripts of her regular meetings Treasury Secretary Jacob Lew, in a contentious hearing. The House Financial Services hearing, the second of Yellen's two-day trip to Capitol Hill to present semiannual monetary policy testimony, came as House Republicans have passed several pieces of legislation aimed at...

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    Taxpayers are advised to file their returns as soon as possible, in part to reduce their risk of taxpayer identity theft. But what happens if you file right away, and then discover you've left key information out of your return? A Credit.com reader recently wrote to us asking, "I already filed my taxes and just got a 1099- C. What do I do?"

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    General Motors Co (GM) is cutting production at two of its North American car plants as supplies of vehicles including the Chevrolet Sonic and Buick Regal rise, a person familiar with the company's plans said on Wednesday. Automotive News initially reported GM's plans for its plants in Lake Orion, Michigan, and Oshawa, Ontario, citing sources.

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    By Matthew Karnitschnig and Nektaria Stamouli. Tax collection a top priority in reform plan. ATHENS--Of all the challenges Greece has faced in recent years, prodding its citizens to pay their taxes has been one of the most difficult.

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    U.S. new-home sales were flat in January, beating forecasts for a seasonally-adjusted decline. WASHINGTON-- Sales of new homes in the U.S. avoided a winter dip in January, with prospects growing for a surge in demand as spring approaches. New homes sold at annual rate of 481,000 last month, essentially unchanged from December, the Commerce Department reported Wednesday.

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    The U.S. Federal Reserve on Wednesday awarded $149.75 billion of overnight fixed-rate reverse repurchase agreements to 58 bidders at an interest rate of 0.05 percent, the Federal Reserve Bank of New York said on its website.

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    Federal Reserve Chair Janet Yellen on Wednesday fended off a stream of aggressive questions from Republican lawmakers who accused the central bank of making Democratic political causes a higher priority than its stewardship of the U.S. economy.

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    MetLife Home Loans LLC will pay $123.5 million to resolve alleged Federal Housing Administration mortgage lending violations, the U.S. Department of Justice said on Wednesday. The unit, a subsidiary of MetLife Inc (MET), knowingly violated the False Claims Act by originating and underwriting mortgage loans insured by FHA that did not meet requirements, the department said in a statement.