SAN FRANCISCO, California, Dec. 13 -- The Federal Reserve Bank of San Francisco issued the following Dec. 5 edition of Fed Views by Robert G Valletta:

Here are excerpts:

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* The U.S. economic expansion has slowed this year but remains solid. Cooling of the overall economy has helped bring supply and demand conditions in the labor market into better balance and supported the progress of inflation toward the Federal Reserve's 2% longer-run goal.