Fed expected to postpone rate hike despite being upbeat about economy

Washington

FEDERAL Reserve policymakers are more confident about the US economy, but are expected to again put off hiking interest rates at the end of a two-day meeting that begins on Tuesday.

Members of the Federal Open Market Committee (FOMC) appear ever-closer to raising interest rates for the first time since 2006, analysts say, but want to see a bit more positive US economic data - including signs of a tighter labour market and of firmer inflation - to move.

Fed chair Janet Yellen has said twice this month that she expects the benchmark federal funds rate to b…