Two Fed officials see no case for rate cut now

"I want to take all the time between now and September to assess how the economy is acting and I'd like to avoid having to take further action," said Kaplan(pic), who supported the July rate cut. "If I see continued weakness, I'm going to at least be open-minded about making some adjustment."

JACKSON HOLE, Wyo: Underscoring divisions within the Federal Reserve over how to respond to signs of a global economic slowdown, two officials on Thursday said they see no need to lower borrowing costs next month, while another said he was "open-minded."

Kansas City Fed President Esther George, who dissented against the U.S. central bank's decision to cut rates last month, and Philadelphia Fed President Patrick Harker, who said he "reluctantly" supported the rate cut, both said the U.S. economy does not need more stimulus at this point.