(Reuters) – Richmond Federal Reserve President Thomas Barkin on Friday said he is ready to act more “deliberatively” on consideration of the pace of Fed rate hikes going forward but said rates could continue rising for longer and to a higher end point than previously expected.
Speaking in a CNBC interview, Barkin said: “When you get your foot on the brake, you think about steering in a very different way. You pump the brakes, sometimes you act a little bit more deliberatively, and I’m ready to do that. And I think the implication of that is probably a slower rate of pace of rate increases, a longer pace of rate increases and potentially a higher endpoint.”
(Reporting By Dan Burns)
