A jumbo 75-basis-point rate hike? Fed’s Bullard isn’t ruling is out

One of the Federal Reserve’s earliest advocates for aggressive rate increases won’t rule out a truly supersize rise, though he doesn’t expect one is needed.

When it comes to the size of a rate increase, one greater than 50 basis points “is not my base case,” Federal Reserve Bank of St. Louis President James Bullard said during a virtual appearance Monday. But he noted the Fed has increased rates by more, and when it comes to a potential 75 basis point increase, “I wouldn’t rule it out.”