Market turmoil shouldn't delay at least one Fed rate hike: Bullard

Recent market turmoil should not delay the Federal Reserve from raising U.S. interest rates at least once, given that the selloff and a slowdown in China have so far had little effect on the U.S. economy, a top Fed official said on Friday. St. Louis Fed President James Bullard told Reuters that if the global financial market volatility continues until the central bank's policy meeting in mid-September, the policy-making Federal Open Market Committee would be hesitant to begin tightening policy.