New York Federal Reserve Bank President William Dudley said that time to raise interest rates is approaching and it could come about as early as September. Housing starts also rose 2.1% in July from June to a seasonally adjusted annual rate of 1,211,000, beating the consensus estimate of 1,175,000, according to the U.S. Department of Commerce. Separately, the Labor Department reported that Consumer Price Index (CPI) remained unchanged in July, in line with the consensus estimate.