Fed sees ‘moderate’ growth, says considering December hike

FEDERAL RESERVE Chair Janet Yellen and her colleagues have been watching for more labor-market improvement and signs that inflation is rising toward their goal, despite headwinds from overseas, as they debate the first rate increase since 2006. / BLOOMBERG NEWS PHOTO/ANDREW HARRER
FEDERAL RESERVE Chair Janet Yellen and her colleagues have been watching for more labor-market improvement and signs that inflation is rising toward their goal, despite headwinds from overseas, as they debate the first rate increase since 2006. / BLOOMBERG NEWS PHOTO/ANDREW HARRER
WASHINGTON - Federal Reserve policy makers said the economy is still expanding at a “moderate” pace and they will consider tightening policy at their next meeting in December without making a commitment to act this year. Even with a slower pace of recent job gains, “labor market indicators, on balance, show that underutilization of labor…

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