Senator Elizabeth Warren calls for 0.75% Interest Rate Cut By Fed
Massachusetts Senator Elizabeth Warren is calling for a steep 0.75% interest rate cut by the Fed this week, according to a letter signed by the Senator. Three Democratic senators urged Federal Reserve Chair Jerome Powell and fellow policymakers to make aggressive rate cuts to protect the US Economy. JUST IN: US Senator Elizabeth Warren calls for 0.75% rate cut by the FED this week. — Watcher.Guru (@WatcherGuru) September 16, 2024 “If the Fed is too cautious in cutting rates, it would needlessly risk our economy heading towards a recession,” Sens. Elizabeth Warren, Sheldon Whitehouse, and John Hickenlooper said in a Monday letter to the Fed Chair. “The Committee must consider implementing rate cuts more aggressively upfront to mitigate potential risks to the labor market.” The Federal Reserve is set to decide this week whether it will cut interest rates for the first time in four years. The US has been fighting a difficult battle with inflation since the end of the COVID-19 pande...