Barkin sees interest rate hikes ahead, but at a gradual pace

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Richmond Federal Reserve President Thomas Barkin said Thursday that he expects the central bank will have to raise interest rates further, though he's not sure by how much or at what pace. In a CNBC interview that was part of the Richmond Fed's 2026 CFO Summit, the policymaker expressed concern over inflation and said monetary policy will need to adjust. "Unemployment's near record lows, and inflation is too high. That means the path is pretty straightforward. The question, of course, is pace," Barkin said in the talk with CNBC's Steve Liesman. "Gradual makes sense if you think there's uncertainty in the world, and if you think that there's information you're going to get in the period.