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Auto sales from January through June topped 7.8 million, their best first half since 2007, according to Autodata Corp. and Ward's AutoInfoBank. Sales of previously occupied homes exceeded 5 million in May, the first time that's happened since November 2009. New-home sales rose at their fastest pace in five years. A stronger economy makes it more likely that the Federal Reserve could begin to taper its stimulus later this year. Chairman Ben Bernanke said last month that the Fed would slow its bond purchases later this year and end them next year if the economy continues to improve. Bernanke and Fed Vice Chair Janet Yellen have both said that they monitor the job openings report for signs that the job market is improving in a sustainable way. The Fed will release minutes from its June meeting Wednesday. The report should provide further insight into what Bernanke and other policymakers are thinking.
[Associated
Press;
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