Economy
Fed’s Evans sees slower rate hike pace, «slightly higher» peak rate
FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans looks on during the Global Interdependence Center Members Delegation Event in Mexico City, Mexico, February 27, 2020. REUTERS/Edgard Garrido
By Bianca Flowers
(Reuters) — The Federal Reserve will likely need to raise borrowing costs to a «slightly higher» peak than envisioned in forecasts from September, Chicago Federal Reserve Bank President Charles Evans said on Friday.
«We probably are going to have to have a slightly higher peak rate of the funds rate, even as we likely will step down» the pace of rate hikes from the 75-basis-point-per-meeting pace of recent meetings, Evans said at an event in Chicago.
