Richmond Federal Reserve Chairman Tom Barkin said, “I think the way forward is very clear. The problem, though, I think is the rhythm. So we said at the September meeting that we are signaling a progressive approach. I think a gradual approach makes sense when you're not too far behind the situation, because you want time to learn, both from the economic environment and from the external environment. So we haven't seen much change since then. I think the incremental approach is a great way, and we'll see what we learn over the next period of time.”

Richmond Federal Reserve Chairman Tom Barkin said, “I think the way forward is very clear. The problem, though, I think is the rhythm. So we said at the September meeting that we are signaling a progressive approach. I think a gradual approach makes sense when you're not too far behind the situation, because you want time to learn, both from the economic environment and from the external environment. So we haven't seen much change since then. I think the incremental approach is a great way, and we'll see what we learn over the next period of time.”