BlockBeats news, September 17, the market generally expects the Federal Reserve to cut interest rates by 0.5%, but Senator Warren believes that the Fed needs to take faster action to save the labor market. Bitcoin skeptic Elizabeth Warren (D-Massachusetts) and other Democratic senators wrote to the Federal Reserve on Monday, calling for more aggressive rate cuts than the market expects. The senators wrote: “We write today to urge the Federal Reserve (Fed) to cut the federal funds rate (currently a two-decade high of 5.3%) by 75 basis points (bps) at the Federal Open Market Committee (FOMC) meeting on September 17-18, 2024.”
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