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Fed’s Evans Says Rates Will Need to Remain at Higher Levels
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The Federal Reserve will need to hold interest rates high enough to slow the economy after it lifts them through the end of this year and into early next year, a central bank official said Monday.
Federal Reserve Bank of Chicago President Charles Evans said in remarks at an economics conference Monday that he expects the central bank’s benchmark federal-funds rate will need to rise to slightly more than 4.5% by early next year and then remain at that level for some time.
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