(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.
(Writing by Ann Saphir)
By Bianca Flowers
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