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Housing price declines remain the greatest challenge to financial markets and could prompt a deep recession , according to Pimco's Bill Gross . Gross, who manages the world's largest bond fund at Pimco, said U.S. home prices are set to decline another 10% in the coming year and suggested that the U.S...
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Minutes from the Federal Open Market Committee's March 18 meeting revealed several members saw a risk of a "prolonged and severe" downturn and that there had been "little indication" of stabilization in the U.S. housing market. Officials had concerns that price expectations might loosen and had discussed...