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Biden Adviser Says Fed Hikes Are Helping to Cool Housing Prices

  • Inflation remains ‘uncomfortably high,’ Bernstein says
  • Decline in gas prices gives US families ‘breathing room’
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Housing’s Global Slump Is Deepening From Rate-Hike Pain

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The US Federal Reserve, which meets this week to decide on interest rates, has helped to cool the overheated housing market even though inflation across the country is still “uncomfortably high,” White House economic adviser Jared Bernstein said.