Federal Reserve Governors Bowman and Waller dissented from this week's decision to hold interest rates steady and explained why they would've cut rates by 25-basis-points.

Federal Reserve governors Michelle Bowman and Christopher Waller favored an interest-rate cut this week because they have grown more concerned about the labor market, and thought their colleagues were being too cautious about inflation.

Federal Reserve Governors Christopher Waller and Michelle Bowman expressed concerns that the central bank’s hesitance to lower interest rates could risk unnecessary damage to the labor market.