politics

U.S. Senators Elizabeth Warren (D-Mass.), Jacky Rosen (D-Nev.), and John Hickenlooper (D-Colo.) wrote to the Federal Reserve (the Fed), urging Chair Jerome Powell to cut the federal funds interest rates from its current, two-decade-high of 5.5 percent. This comes as major central banks around the globe have cut rates or are leaning towards lowering interest rates — including the European Central Bank, which cut its rates last week from 4% to 3.75%. The letter also raises concerns that high interest rates are increasing the costs of housing and insurance, - continuing to hurt working Americans as rates remain unchanged.

U.S. Senators Elizabeth Warren (D-Mass.), Jacky Rosen (D-Nev.), and John Hickenlooper (D-Colo.) wrote to the Federal Reserve (the Fed), urging Chair Jerome Powell to cut the federal funds interest rates from its current, two-decade-high of 5.5 percent. This comes as major central banks around the globe have cut rates or are leaning towards lowering interest rates — including the European Central Bank, which cut its rates last week from 4% to 3.75%. The letter also raises concerns that high interest rates are increasing the costs of housing and insurance, - continuing to hurt working Americans as rates remain unchanged. 

https://www.warren.senate.gov/newsroom/press-releases/warren-rosen-hickenlooper-push-federal-reserve-to-lower-interest-rates

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Do you think they worried that it wouldn't be cut? Or that they knew it would be cut and wanted to take credit? I thought the consensus was cuts were inbound due to previous comments.

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They won't cut by 0.75% (consensus is 25-50 and I'd guess 25), and this letter will have no impact on that