Federal Reserve Gov. Michelle Bowman said she has concerns about an uptick in inflation and will need to see more positive data before supporting an interest rate cut.

The Fed's higher borrowing costs discouraged home building, adding inflation pressure, Joseph Stiglitz said.

Stiglitz said it had been a mistake for the central bank to keep rates so low for so long following the 2008 financial crisis. Now, it is crucially important for the Fed to shift borrowing costs back toward a more normal level.

Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead.

Nobel Prize-winning economist Joseph Stiglitz believes the Federal Reserve should deliver a half-point interest rate cut at its forthcoming meeting