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What will the Federal Reserve decide regarding interest rates on September 20, 2024?
4
US•Elizabeth Warren•Democratic•Federal Reserve•Sheldon Whitehouse•John Hickenlooper•Fed•Jerome Powell
Resolution / Starting Odds
Increase rates • 25%
Cut rates by 75 basis points • 25%
Cut rates by less than 75 basis points • 25%
Maintain current rates • 25%
Federal Reserve official announcement and press release
Story
Elizabeth Warren and Democratic Senators Urge Fed to Cut Rates by 75 Basis Points on Wednesday
Sep 16, 2024, 03:38 PM
US Senator Elizabeth Warren, along with other Democratic senators, is urging the Federal Reserve to implement a 75 basis point (0.75%) interest rate cut this week. The senators, including Sheldon Whitehouse and John Hickenlooper, have written a letter to Fed Chair Jerome Powell, expressing concerns about the current economic conditions and the potential risk of recession. This move is seen as an effort to stimulate the economy and protect the labor market. The rate cut is being specifically requested for Wednesday. Despite the call for a significant rate cut, the Federal Reserve is known for its independence from political influence.
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