U.S. senators wrote to the Fed Chairman: High U.S. interest rates slow economic growth, interest rates should be lowered as soon as possible

According to TechFlow, on June 11, U.S. Senator Elizabeth Warren wrote to Jerome Powell, Chairman of the Federal Reserve System, expressing concerns about the current high interest rate policy in the United States and calling on the Federal Reserve to take action to adjust interest rate policy to avoid further impact on economic growth and financial stability.

Elizabeth said that the US interest rate is the highest point in the past two decades, at 5.5%. High interest rates have been going on for some time, slowing economic growth and failing to address the main drivers of inflation. The European Central Bank has cut interest rates for the first time in five years in an effort to keep inflation at its target level of 2%. As the US Federal Reserve maintains high interest rates, the interest rate gap with Europe is widening. This may lead to an appreciation of the US dollar and make financial conditions tighter.