Senator Warren called on the Fed to cut interest rates by 75 basis points at its next meeting

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.