Federal Reserve Governor Michelle Bowman said Monday she would favor an interest rate cut at the next policy meeting in July so long as inflation pressures stay muted

A top Federal Reserve official who resisted an aggressive cut last year said she is open to easing interest rates as soon as next month, in a sign support is building among policymakers for a looser monetary stance.

Several top Fed officials have voiced support for cutting interest rates in the week after the central bank's latest policy decision.