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

Richmond Fed President Tom Barkin said in a CNBC interview that he expects further interest rate hikes ahead but favors a gradual pace, citing concern over inflation and the need for monetary policy to adjust. The remarks signal that at least one Federal Reserve policymaker remains inclined toward additional tightening even as the pace of increases slows. Investors will watch upcoming inflation and employment data, along with signals from other Fed officials, for clues on the timing and size of the next rate move.