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 Michelle Bowman on Saturday said the weaker than expected July nonfarm payrolls report this month reinforced her view that the central bank should cut interest rates three times 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.