"We are at serious risk of already being behind the curve in addressing deteriorating labor market conditions. But Bowman said it was important to her that the accompanying monetary policy statement pointed to the likelihood of further cuts given rising risks to the job market. Policymakers were divided over the need for further cuts, but at the median anticipated two more quarter-point reductions this year. It is the first such move since Trump's current term began, and marked a turn in the Fed's thinking that put more weight on developing risks to the job market. Bowman along with Fed Governor Christopher Waller dissented when the Fed held rates steady in July.