By Ann Saphir (Reuters) – It is time for the Federal Reserve to shift to smaller interest rate hikes to avoid tightening monetary policy more than needed, and slow the pace further once risks become more “two-sided,” Chicago Fed President Charles Evans said on Friday. “From here on out, I don’t think it’s front-loading anymore, I think it’s looking for the right level of restrictiveness,” Evans told Reuters in an interview, referring to the U.S. central bank’s string of supersized rate hikes. “Stepping down to a pace that’s not 75 (basis points), giving the (Federal Open Market) Committee a li…