While the Federal Reserve has projected more interest rate cuts this year, some officials are cautious as more economic data on inflation and employment comes in.

Four Federal Reserve policymakers on Monday expressed support for further interest-rate cuts, but appeared to differ on how fast or far they believe any cuts should go.

The coronavirus has wreaked havoc on the economy, and in an emergency response, the Federal Reserve slashed interest rates by a full percentage point—the second rate cut in two weeks and the largest in Fed history.

Federal Reserve Bank of Kansas City President Jeffrey Schmid said he favors a slower pace of interest-rate reductions given uncertainty about how low the US central bank should ultimately cut rates.

A trio of Federal Reserve policymakers on Monday expressed support for gradual U.S. interest-rate cuts, citing the strength of the economy and an uncertain outlook. The remarks -- from Kansas City Fed President Jeffrey Schmid,

The Fed cut interest rates again Sunday in an attempt to reduce “evolving risks to economic activity” caused by the coronavirus outbreak.

In September 2024, Jerome Powell announced the first Federal Funds Rate cut in over four years. The Federal Funds Rate is a short-term rate related to the cost of debt in the American economy. Some expected the Federal Reserve to cut only 25 basis points,

Federal Reserve Bank of Dallas President Lorie Logan said Monday she sees more rate cuts ahead for the central bank and suggested she sees no reasons why the Fed can’t also press forward with shrinking its balance sheet.

Four Federal Reserve policymakers expressed support for further cutting of interest rates. However, they differ on how fast such rate cuts should be made. Reuters reported that three of the policymakers wanted to take it slow,

Looking ahead, the Fed expects to make further rate cuts— possibly another 0.50% in 2024 and 1.0% more in 2025. Additionally, the Federal Reserve now expects the unemployment rate to rise to 4.4% in 2024, and inflation to come down to 2.3%.

Kansas City Federal Reserve Bank President Jeffrey Schmid said on Monday he supports a "cautious and deliberate" approach to interest rate cuts now that inflation is heading back to the Fed's 2% target and the labor market is normalizing.