đ„đ„đ„ SENATORS PRESSURED THE FED: âLOWER INTEREST RATES BY 0.75 POINTS!âđ„đ„đ„
In the US, three Democratic senators, Elizabeth Warren, Sheldon Whitehouse and John Hickenlooper, requested a 0.75 point reduction in interest rates in a letter they wrote to FED Chairman Jerome Powell.
The senators emphasized that the economy is at risk of falling into recession. They stated that high interest rates implemented to combat inflation negatively affect growth and weaken the labor market. The senators' proposal argues that a more aggressive monetary policy should be pursued to stimulate the economy. The FED is expected to lower interest rates this week, but it is not yet clear how much.
đ„đ„đ„This proposal could boost the economy, but it also carries risksâŒïž
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Sources:
1. Watcher Guru. âSenator Elizabeth Warren Calls for 0.75% Interest Rate Cut by Fed.â
2. County Local News. âSenate Urges Powell for 75bps Rate Cut: Economic Turbulence Ahead.â
