After the Federal Reserve cut its policy rate by 100 basis points in three meetings, Kansas City Fed President Jeff Schmid favors moving cautiously in further cuts. "With inflation close to target and growth showing continued momentum,

Federal Reserve Bank of Kansas City President Jeff Schmid said he favors slowing the pace of interest-rate cuts and only after a persistent change in incoming economic data.

The US central bank voted 11-to-1 in favor of cutting rates by a quarter of a percentage point at the meeting on December 17 and 18, reducing the bank's key lending rate to between 4.25 and 4.50 perce