Data: US Senator Elizabeth Warren Presses Fed to Cut Rates by 75 Basis Points

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September 16, 2024
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ChainCatcher reports that many investors and some economists are concerned that the Federal Reserve has waited too long, putting the labor market and economic growth on thin ice, and injecting volatility into financial markets. This was evident in the U.S. Treasury market last Friday when traders suddenly resumed bets on a 50 basis point rate cut. The November presidential election has also put the Fed's decision-making in an uncomfortable position. Republican candidate and former President Trump has warned that the Fed should not cut rates before the election, while Democratic Senator Elizabeth Warren has pressured officials to cut rates by 75 basis points.

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