US Fed dissenter calls for 'measured' rate cuts

WASHINGTON, D.C. — The sole holdout in the US Federal Reserve's (Fed) 11-to-1 vote cementing a larger interest rate cut said Friday that the move "could be interpreted as a premature declaration of victory."

Earlier this week, Fed Governor Michelle Bowman became the first voting member of the central bank's rate-setting committee for more than two years to dissent from a rate decision, signaling at the time that she would have preferred a more modest cut of a quarter of a percentage point.