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, with one governor saying inflation was now so weak the large reduction was needed and another arguing price pressures remain so strong a smaller cut would have been better.

A Federal Reserve official predicted quarter point rate cuts if data looked ‘fine’. But he also set out a scenario for a pause — or faster reductions.

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

A top Federal Reserve official warned Friday that the central bank risks prematurely declaring victory over inflation with its vote for a jumbo interest rate cut. Fed Governor Michelle Bowman was the sole dissented voice on the Federal Open Market Committee in its 11-1 decision to slash rate by 50 basis points instead of a quarter-point cut on Wednesday.