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Fed’s Evans Sees Rate Increase in Second Half of 2015

Federal Reserve Bank of Chicago President Charles Evans said the central bank will probably raise interest rates in the second half of next year and the timing will depend on the pace of inflation.

“I do tend to think inflation’s going to pick up and that will be the reason why we ultimately raise rates,” Evans, who doesn’t vote on policy this year, said in a Bloomberg Television interview with Betty Liu today in Hong Kong. “My own take is it’s most likely to be in the second half of 2015. If I had my druthers, I’d wait a little bit longer than that.”