Senator Elizabeth Warren and other Democrats are calling on the Fed to cut rates aggressively! 📉 In the letter, they are pushing for a 75 basis point rate cut at the next meeting in September 2024.

Warren argues that the Fed is taking too long and that it could lead to a recession. According to CME FedWatch, traders are expecting a 50 basis point cut, but BlackRock warns that the cut may not be that deep.

Bitcoin fell below $58,000 on the news.