Senator Warren calls on Fed to cut rates by 75 basis points at next meeting

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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