The two Federal Reserve governors who favored an interest rate cut at the U.S. central bank's policy meeting this week said on Friday they did so largely due to rising concerns about the job market, while noting their expectations that any tariff-related price increases will not lead to lasting inflation pressures.

Fed Governors Christopher Waller and Michelle Bowman again sounded the alarm on Friday that the labor market is weaker than it appears. They warned that waiting to cut interest rates could put employment at further risk of deterioration.

Two Federal Reserve officials who voted this week against holding a key interest rate in place explained their decisions Friday.

The two Federal Reserve governors who favored an interest rate cut at the U.S. central bank's policy meeting this week said on Friday they did so largely due to rising concerns about the job market, amid expectations that any price increases related to trade tariffs will not lead to lasting price pressures.

Slower economic growth and softer labor market dynamics warrant cutting the federal funds rate target range by 25 basis points to 4.00%-4.25%, Federal Reserve Governors Christopher Waller and Michelle Bowman argued in separate statements on why they dissented from the Federal Open Market Committee's decision on Wednesday to keep rates at 4.

Federal Reserve governors Michelle Bowman and Christopher Waller favored an interest-rate cut this week because they have grown more concerned about the labor market, and thought their colleagues were being too cautious about inflation.