By Michael S. Derby (Reuters) -Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Thursday that last week’s central bank interest-rate cut was needed to help ensure that the job market remains in a good place. While the economy is currently in a pretty good spot relative to the Fed’s inflation and job goals, “some recent data suggests a growing risk that the labor market may weaken more substantially or abruptly than I had been anticipating,” Schmid said in the text of a speech prepared ...