The current market consensus is that the Federal Reserve will cut interest rates by 0.5%, but Senator Warren believes that the Federal Reserve needs to take faster action to rescue the labor market.
Bitcoin skeptic Elizabeth Warren (D-Mass.) and other Democratic senators sent a letter to the Federal Reserve on Monday calling for a more aggressive rate cut than market expectations.
"We are writing today to urge the Federal Reserve to cut the federal funds rate, currently at a two-decade high of 5.3 per cent, by 75 basis points (bps) at its September 17-18, 2024, FOMC meeting," the senators wrote.
Senator Warren called on the Fed to cut interest rates by 75 basis points at its next meeting
2024-09-16 22:19:03
Currently market prevailing expectations Federal Reserve rate cut 0.5%desk3cryptocurrencydesktopCrypto News
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