The Federal Reserve said the economy is expanding at a moderate pace and inflation is below its goal while maintaining a commitment to keep interest rates near zero for a “considerable time” after asset purchases are completed. “Labor market conditions improved somewhat further” while “significant underutilization of labor resources” remains, the Federal Open Market Committee said today in a statement in Washington. “Inflation has been running below the committee’s longer-run objective.” In July, the Fed said inflation was “somewhat closer” to its goal. Policy makers tapered monthly bond buying to $15 billion in ... (full story)