PREHEAT oven to 350° F. Line baking sheets with parchment paper or foil; lightly grease.
COMBINE flour, oats, baking soda, baking powder, salt, cinnamon and nutmeg in medium bowl. Beat butter, brown sugar and granulated sugar in large mixer bowl until combined. Add pumpkin. Gradually beat in flour mixture. Stir in morsels. Drop by rounded tablespoons 2 inches apart onto prepared baking sheets.
BAKE for 12 to 13 minutes or until light golden brown. Cool on baking sheets for 2 minutes; remove to wire racks to cool completely. Store tightly covered.