Will They Spend?

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The market indices posted declines for the week. Casting a cloud over Americans’ future spending was another record high hit by oil prices and an indication of higher interest rates from the Federal Reserve as it lifted the key Fed Funds rate by a quarter point on Tuesday. Some big-ticket purchases are already slowing: The National Association of Realtors said sales of existing U.S. homes slipped by a much larger than expected 2.7 percent in August.

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