FILE PHOTO: Charles Evans, president of the Federal Reserve Bank of Chicago, poses for a photo in Palm Beach, Florida, U.S. January 17, 2018. REUTERS/Ann Saphir/File Photo
September 6, 2018
(Reuters) – The Federal Reserve will likely have to raise interest rates past the neutral rate in order to keep the economy on a sustainable growth path and inflation around target, Chicago Federal Reserve Bank President Charles Evans said on Thursday.
“Given the outlook today, I believe this will entail moving policy first toward a neutral setting and then likely a bit beyond neutral,” Evans said in a speech originally intended to be delivered to a conference earlier this week in Argentina and released on Thursday.
Evans does not have a vote on the central bank’s rate-setting committee this year but fully participates in deliberations.
(Reporting by Lindsay Dunsmuir; Editing by Phil Berlowitz)
