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Original letter from U.S. congressmen to Powell: The Fed has maintained high interest rates for too long, it is time to cut interest rates
Author: Elizabeth Warren; Translated by: Deng Tong, Golden Finance
After the European Central Bank and the Bank of Canada have taken the lead in cutting interest rates, the Federal Reserve does not seem to have any plans to cut interest rates. US Senator Elizabeth Warren wrote to Jerome Powell, Chairman of the US Federal Reserve System, to explain her position on the current US monetary policy and pointed out that the Fed's monetary policy does not help reduce inflation - it is pushing up the cost of housing and car insurance. And the current monetary policy may lead to an economic recession and make thousands of American workers unemployed. Golden Finance has translated the original letter below for readers.
After the European Central Bank and the Bank of Canada have taken the lead in cutting interest rates, the Federal Reserve does not seem to have any plans to cut interest rates. US Senator Elizabeth Warren wrote to Jerome Powell, Chairman of the US Federal Reserve System, to explain her position on the current US monetary policy and pointed out that the Fed's monetary policy does not help reduce inflation - it is pushing up the cost of housing and car insurance. And the current monetary policy may lead to an economic recession and make thousands of American workers unemployed. Golden Finance has translated the original letter below for readers.
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