Kansas City Federal Reserve President Jeff Schmid signaled on Thursday a reluctance to cut interest rates again as the U.S. central bank comes into the new year facing a resilient economy and inflation that remains above its 2% target.

After the Federal Reserve cut its policy rate by 100 basis points in three meetings, Kansas City Fed President Jeff Schmid favors moving cautiously in further cuts. "With inflation close to target and growth showing continued momentum,

The US central bank voted 11-to-1 in favor of cutting rates by a quarter of a percentage point at the meeting on December 17 and 18, reducing the bank's key lending rate to between 4.25 and 4.50 perce