NEW YORK, Nov 14 - Federal Reserve Bank of Philadelphia President Anthony Santomero said on Friday the current level of U.S. interest rates cannot be maintained indefinitely, but that a rise in rates need not happen in the near future. "In light of significant excess capacity and benign inflation pressures, any policy adjustment need not take place in the near future," Santomero said in a speech before a Philadelphia Fed forum on "Managing the Recovery in Uncertain Times." Santomero also said the recent data showed the long-suffering labor market may have finally turned the corner. But he said that with strong productivity growth, "to remploy those who became unemployed or underemployed during the past three years, we will need a period of real GDP (gross domestic product) growth above 4 percent."//www.reuters.com