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 San Francisco President Mary Daly said she expected the US central bank would continue cutting interest rates to guard against further weakening in the labor market.

Mortgage rates are increasing in recent weeks despite the Federal Reserve's decision to cut interest rates last month for the first time in four years.

A trio of Federal Reserve policymakers on Monday expressed support for gradual U.S. interest-rate cuts, citing the strength of the economy and an uncertain outlook. The remarks -- from Kansas City Fed President Jeffrey Schmid,

Federal Reserve Bank of Kansas City President Jeffrey Schmid expressed caution Monday against implementing outsized interest-rate cuts like the 50-basis-point reduction last month, "especially given uncertainty over the eventual destination of policy and my desire to avoid contributing to financial market volatility.