Accommodative monetary policy will need to be reversed “eventually,” but it could take a “couple years” for a return to normal, according to Federal Reserve Bank of Chicago president and chief executive officer Charles L. Evans.

“Currently, policy is, appropriately, very accommodative. But eventually we will have to return to a more normal stance,” Evans said in a speech yesterday at the University Club of Chicago, according to prepared text of his remarks released by the Fed.

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