Fed's Barkin: 50 or 75 bps rate hike in July 'pretty reasonable'

Richmond Federal Reserve President Thomas Barkin. Credit: Reuters Photo

Richmond Federal Reserve President Thomas Barkin said on Tuesday that an interest rate increase of 50 or 75 basis points at the US central bank's next policy meeting in July is a good base case.

"I am pretty comfortable with what Jay said. ...He gave a range that feels pretty reasonable," Barkin said during a webinar held by the National Association for Business Economics, referencing Fed Chair Jerome Powell's comments that either 50 or 75 basis points were the most likely scenarios.

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