Fed&\#x27;s Barkin says further gradual rate hikes may be needed

Richmond Fed President Thomas Barkin said further interest rate increases are likely needed because inflation is too high and unemployment is near record lows, after the Fed left its benchmark rate in a 3.75%-4% range about a week earlier; markets price a better than 80% chance of a hike in December, according to CME Group's FedWatch tool.