Bullard says 'liftoff' to be followed promptly by debate over second hike

WASHINGTON (Reuters) - After its first rate hike the Fed will still face a "healthy debate" over the proper pace of further increases, St. Louis Fed President James Bullard said on Friday.

He said the Fed is unanimous that rates should only increase "gradually," but will need to decide what that means in practice and when, in particular, to make a second rate move.

"Once you make the second move you can get some credibility about what gradual means," he said.

(Reporting by Howard Schneider; Editing by Chizu Nomiyama)

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