Senator Warren Calls for Fed to Cut Rates by 75 Basis Points at Next Meeting
Article is form Jinse
September 16, 2024
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English Translation:
Gold Finance reports that the current market consensus is for a 0.5% interest rate cut by the Fed, but Senator Warren argues that the Fed needs to act more aggressively to rescue the labor market.
Bitcoin skeptic Elizabeth Warren (D-Mass.) and other Democratic senators wrote to the Fed on Monday, urging them to take a more aggressive rate cut than the market expects.
The senators wrote, "We write today to urge the Federal Reserve (Fed) to reduce the federal funds rate (currently at 5.3%, the highest level in two decades) by 75 basis points (bps) at the Federal Open Market Committee (FOMC) meeting on September 17-18, 2024."
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