The Federal Reserve is likely to “eventually” push rates up slightly into restrictive territory if the dark clouds over the outlook clear up, said Chicago Fed President Charles Evans, on Wednesday. “If the downside risks dissipate and the fundamentals continue to be strong, I expect that eventually the fed funds rate will rise a touch above its neutral rate — say up to a range between 3% and 3.25%, Evans said in a speech to the Discover Financial Services Company Meeting in Riverwoods, Ill. That’s higher than the median Fed forecast of a “neutral” 2.75% long-run neutral interest rate. Evans is projecting three more ... (full story)