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Richmond Federal Reserve President Tom Barkin indicated support for a gradual, quarterly pace of interest rate hikes, describing the direction as straightforward but highlighting that the key issue is determining the appropriate pace.
Andrew Ackerman reported that Barkin told SiriusXM a gradual approach is a good way to proceed and emphasized the importance of assessing new information in the coming period.
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Mortgage rates have been increasing at their fastest pace since 2023, according to Andrew Ackerman's recent reporting on the Fed’s campaign to curb inflation (read more). Ackerman also noted that the Federal Reserve was previously expected to keep rates steady ahead of the U.S. mid-term elections due to persistent inflation concerns (read more). These developments provide context for current discussions on the pace of monetary tightening.