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Evans Says Fed May Need Higher Rates to Restrict Economic Growth
The Federal Reserve may need to raise interest rates to “somewhat restrictive” levels over the next couple of years to combat the effects of recent fiscal stimulus on the U.S. economy, Chicago Fed President Charles Evans said. “If inflation continues to be on the order of 2, 2.2 (percent) -- I’m not expecting it to get as high as 2.5 -- that suggests only a modest amount of restrictiveness above our neutral rate might be called for in 2020,” Evans told reporters Thursday in Chicago. “It would not surprise me at all if we make a judgment to move to a somewhat restrictive setting,” he said, citing roughly ... (full story)
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