Three Democrats call for Fed cut of 75 basis point rate cut ahead of pivotal meeting

2 days ago 7

Three prominent Democrats urged Federal Reserve Chair Jerome Powell Monday to cut interest rates by 75 basis points, warning the central bank may have already delayed too long. The central bank is poised to announce rate cuts Wednesday after more than a year at the two-decade high range of 5.25 to 5.5 percent. While Powell…

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