Citing recent data showing an uptick in inflation and a U.S. economy and labor market that are stronger than previously thought, Federal Reserve Governor Christopher Waller on Monday called for "more caution" on interest-rate cuts ahead.

A key voter on the Federal Reserve said the surprising strength of the economy suggests the central bank should “proceed with more caution” in cutting U.S. interest rates to make sure inflation doesn’t reignite.

Kashkari said that the current stance of monetary policy remains restrictive of growth, although by how much is unclear.

U.S. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday more rate cuts likely lie ahead for the central bank as the 2% inflation target looms into sight.

In mid-September, the Federal Reserve lowered its benchmark interest rate by half-a-percentage-point. And in the coming months, the Fed is likely to continue making rate cuts in response to cooling inflation.

Recent data suggest that the Federal Reserve should proceed at a more cautious pace after the central bank's half-point cut in September, Fed Governor Christopher Waller said Monday. But two alternate scenarios could change that logic,

But the Fed's recent rate cut, and any future rate cuts that come down the pike in the next year, should not influence your retirement savings strategy. Simply put, if you're still many years away from retirement, you should be putting the bulk of your savings into the stock market.

JPMorgan Chase CEO Jamie Dimon has downplayed the Fed's recent interest rate cut. In reality, rate cuts have the potential to change a lot of people's financial situations. Rate cuts are expected to continue, and they're likely to make borrowing less expensive but limit the amount of interest savers can earn.

Contingency planning for possibility of rising inflation and interest rates will help businesses respond to changes fast and calmly—better than dithering or panicking.

By Ann Saphir Palo Alto, California (Reuters) -Citing a recent uptick in inflation and data showing the U.S. economy and labor market are stronger than previously thought, Federal Reserve Governor Christopher Waller on Monday called for "more caution" on interest-rate cuts ahead.

Minneapolis Federal Reserve President Neel Kashkari said it appears likely that “further modest reductions” in the central bank’s benchmark interest rate will be appropriate in coming quarters.