“Labor-market conditions bottomed during the summer, then improved gradually until the government shutdown began — which led to some renewed weakness in spending and hiring. Firms are mostly seeking ways to cut costs by adopting technology and trimming hiring. Altogether, we believe the Fed can and probably should cut rates in December to sustain the fragile recovery that began during the summer.”Meanwhile, the Federal Reserve’s latest Beige Book on Wednesday, covering October and early November, is likely ...