The Federal Reserve has not approved an interest rate cut since before the Nov. 5 election, but one of its governors said she wants three rate cuts this year.

The Federal Reserve's vice chair of supervision, Michelle Bowman, on Saturday said recent weak job data underscores her concerns about labor market fragility and strengthens her confidence in her own forecast that three interest-rate cuts will likely be appropriate this year.

A top official at the Federal Reserve is saying that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower