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US growing modestly, signs of inflation subdued: Fed

Central bank said to be close to its dual goals of bringing unemployment as low as possible, inflation of 2 per cent

The numbers show that employment grew moderately, while some Fed districts reported "widening labour shortages", another sign the economy was at or near what economists consider full employment.


THE economy grew at a modest to moderate pace across the United States, further tightening the labour market but without significant acceleration in wages or inflation, a Federal Reserve survey showed.

The central bank's Beige Book economic report, based on information...

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