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Fed Official Says Economy Needs Rate Setting That Slows Economic Growth

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Chicago Federal Reserve President Charles Evans said he is hopeful the central bank will be able to slow its pace of rate rises over the remainder of the year as it pushes borrowing costs to levels aimed at slowing the economy.In projections submitted at the Fed’s meeting in mid-June, Mr.

Evans said he anticipated raising rates by a half percentage point at the central bank’s meeting in September after completing two rate rises of 0.75-percentage point, or 75 basis points, this summer.

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