Fed's Bullard favors 0.75-percentage-point Sept rate hike - WSJ

St. Louis Fed President James Bullard said he is leaning towards favoring a 0.75-percentage-point September rate rise at the central bank's policy meeting next month, the Wall Street Journal reported on Thursday, citing an interview.

St. Louis Fed President James Bullard said he is leaning towards favoring a 0.75-percentage-point September rate rise at the central bank's policy meeting next month, the Wall Street Journal reported on Thursday, citing an interview. Bullard said he sees an about 18-month process of getting price pressures back to the Fed's 2% target, the report said.

"We should continue to move expeditiously to a level of the policy rate that will put significant downward pressure on inflation," the WSJ quoted Bullard as saying. "I don't really see why you want to drag out interest rate increases into next year," Bullard told the publication.