Fed official advocates for three interest rate cuts this year due to weak job market data.

A top Federal Reserve official, Michelle Bowman, argues that recent weak job market data supports her belief in three interest rate cuts this year. Bowman believes lower rates could boost the economy by making borrowing cheaper, though it could also increase inflation. Despite nine other officials voting to keep rates steady, Bowman's stance suggests a potential rate cut at the Fed's next meeting in September.