By Ann Saphir

(Reuters) – Chicago Federal Reserve Bank President Charles Evans on Monday signaled he would not necessarily oppose getting interest rates up to a neutral setting of 2.25% to 2.5% by the end of the year, a pace that would require a couple of 50 basis-point rate hikes at upcoming Fed meetings.

“Fifty is obviously worthy of consideration; perhaps it’s highly likely even if you want to get to neutral by December,” Evans told the Detroit Economic Club. “I think the optionality of not going too far too quickly is important, so I would focus the attention on where do we want to be at the end of the year.”

(Reporting by Ann Saphir; editing by Jonathan Oatis)