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.

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.

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.