Two Federal Reserve officials indicated Friday that they expect further interest rate increases but will be looking closely at whether those moves need to be as aggressive as they’ve been this year.Regional president Thomas Barkin of Richmond and Susan Collins separately said that the Fed is moving into a new phase that will be examining how much more restrictive policy needs to be.In remarks to CNBC, Barkin said the rate hikes have taken policy to where the Fed now has switched from having its foot on the gas pedal to the brake. The new phase means policymakers will “pump the brakes sometimes” and “act a little bit more defensively,” he said.”I’m ready to do that, and I think the implication for that is probably a slower pace of increases, a longer pace of increases and a potentially higher point,” he said during a live “Squawk on the Street” interview.Barkin added that he could see the fed funds rate — used as a benchmark for short-term borrowing —moving above 5% from its current target range of 3.75%-4%.Market pricing Friday moved higher to a poten …
