A top official at the Federal Reserve is saying that this month's stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.

Several senior Federal Reserve officials on Friday characterized the labor market as “solid” even after a poor July jobs report and appeared in no rush to lower U.S. interest rates.

The Federal Reserve's vice chair of supervision, Michelle Bowman, on Saturday said recent weak job data underscores her concerns about labor market fragility and strengthens her confidence in her own forecast that three interest-rate cuts will likely be appropriate this year.