This is possible but it's usually significantly slower than sending faster and using flow control. One reason for this is that one can't just set the serial port baud rate at any desired speed such as 14,500, since only a discrete number of choices are available. The best choice is to select a rate that is a little higher than the device can keep up with but then use flow control to make things work right. If one decides to not use flow control, then the speed must be set low enough to cope with the worst case situation. For a terminal, this is when one sends escape sequences to it to do complex tasks that take more time than normal.
Buffers are of some help in handling worst case situations of short duration.
The buffer stores bytes that come in too fast to be processed at once, and saves them for processing later. Sometimes DEL's are used instead provided they have no other function. See Recognize Del . The escape sequence starts the terminal doing something, and while the terminal is busy doing it, it receives a bunch of nulls which it ignores. When it gets the last null, it has completed its task and is ready for the next command.