Michelle Bowman said such a big initial rate cut could complicate the Fed's mission of getting inflation back to its 2% target.

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve officials, in their first public comments since the U.S. central bank cut interest rates by half a percentage point, laid out on Friday the depth of the debate over the move,

Having all but tamed inflation, the Federal Reserve is poised to do something Wednesday it hasn’t done in more than four years: Cut its benchmark interest rate, a step that should lead to lower borrowing costs for consumers and businesses.