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Fed's Evans sees slower rate hike pace, "slightly higher" peak rate

Published 12/02/2022, 11:21 AM
Updated 12/02/2022, 11:25 AM
© Reuters. 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.

Latest comments

Soooo OUT OF BALANCE!! no where near 2% goal. Fire Joe Biden and his entire run away spending staff!.
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