The Fed cut rates five weeks ago, but banks are still paying high interest rates on high-yield savings accounts and combo checking/savings offers.

Four Federal Reserve policymakers on Monday expressed support for further interest-rate cuts, but appeared to differ on how fast or far they believe any cuts should go.

Federal Reserve Bank of Kansas City President Jeffrey Schmid said he favors a slower pace of interest-rate reductions given uncertainty about how low the US central bank should ultimately cut rates.

The coronavirus has wreaked havoc on the economy, and in an emergency response, the Federal Reserve slashed interest rates by a full percentage point—the second rate cut in two weeks and the largest in Fed history.

Kansas City Federal Reserve Bank President Jeffrey Schmid said on Monday he supports a "cautious and deliberate" approach to interest rate cuts now that inflation is heading back to the Fed's 2% target and the labor market is normalizing.

Federal Reserve Bank of Minneapolis President Neel Kashkari repeated that he favors reducing interest rates at a slower pace in the coming quarters.

The Fed cut interest rates again Sunday in an attempt to reduce “evolving risks to economic activity” caused by the coronavirus outbreak.

(Reuters) -Minneapolis Federal Reserve Bank President Neel Kashkari on Monday again said he expects "modest" interest rate cuts over the next several quarters, though a sharp deterioration of labor markets could move him to advocate for faster cuts.

Minneapolis Fed President forecasts more modest cuts over the next several quarters, he said on Monday at the Chippewa Falls Area Chamber of Commerce. Recall that the Federal Open Market Committee initiated its easing cycle in September,