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Low prices, weak hiring raise odds of Fed action

By Christopher Rugaber
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Low prices, weak hiring raise odds of Fed action

WASHINGTON (AP) — The U.S. job market is flagging, and consumer prices are barely rising. The picture sketched by data released Thursday has made some economists predict the Federal Reserve will announce some new step next week to boost the economy.

Applications for unemployment benefits rose last week, pointing to a fourth straight month of sluggish hiring in June. And consumer prices were pulled down in May by a plunge in gas prices.

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