🇺🇸 US Senator Elizabeth Warren Calls on Fed to Cut Interest Rates by 75 Basis Points 🇺🇸
📌Despite rhetoric about a strong US economy, three Democratic Senators have urged the Federal Reserve to make a dramatic change in monetary policy.
📌US Senator Elizabeth Warren of Massachusetts, a cryptocurrency skeptic, has called on the Federal Reserve and its Chairman Jerome Powell to cut interest rates by 75 basis points to limit the risk of a recession. Warren's letter, co-signed by Senators Sheldon Whitehouse and John Hickenlooper, warned of the potential economic fallout that a smaller cut in funding could bring.
📌If the Fed is too cautious in cutting interest rates, it will inadvertently risk tipping our economy into recession. Some economists have been warning about this risk since July… The Committee should consider cutting rates more aggressively from the outset to mitigate potential risks to the labor market.
