October 3, 2018 / 12:34 PM / 20 days ago

Fed can hold rates 'relatively indefinitely' when mildly restrictive: Evans

LONDON (Reuters) - U.S. interest rates could plateau for a while once they have risen to a level we they become mildly restrictive for the economy, Federal Reserve policy maker Charles Evans said on Wednesday.

“We can increase (rates) to a setting of the funds rate that’s modestly restrictive and then we can hold there relatively indefinitely until we see the economy, the economic outlook, adjust,” Evans, who heads the Chicago Fed, told reporters after an OMFIF think tank event in London.

He added that the likely path higher for U.S. rates seemed “about as clear as you could write up,” at present.

Reporting by Marc Jones and Andy Bruce

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