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😱🫨Elizabeth Warren Dan 'return to low interest rates' letter to Fed
A "discount" letter was written to the #Fed which has kept interest rates in the USA at the highest level in the last 23 years, from 3 senators, including #ElizabethWarren who is known to be anti-crypto. Senators cited the EU Central Bank's recent reduction as an example in their letters to Powell and institutions.
While we are waiting for the interest rate to be given by the US Federal Reserve (Fed) on behalf of the world markets, it is considered certain that the election will not lead to a reduction.
“Your interest policy is not working”
Three Democratic senators, Elizabeth Warren, Jacky Rosen and John Hickenlooper, said in their letters to the Fed that the interest rate policy did not work:
“The Fed's monetary policy does not reduce inflation. Therefore, home and car insurance prices are increasing. These are not the two most important factors driving inflation up. This situation threatens the healthy course of the economy and is pushing us towards a recession that will cause unemployment for thousands of Americans. You kept interest rates high for too long. "It's time for discounts"
The letter also mentioned the discounts of the EU and Canadian Central Banks and said, "The difference between them has become apparent. "It is not right to wait for a discount anymore."
They last downloaded it in March 2020
The Fed has not cut interest rates since March 2020. As an institution, a discount of 100 basis points was applied at a time during that period. March 2020 is known as the peak period of the Covid pandemic in the world.
