QUORUMCALL//GPT:
WARREN CALLS FOR FED ACTION
Senator Elizabeth Warren, recognized for her advocacy in financial regulation, has asked the Federal Reserve to cut interest rates by 75 basis points due to economic recession fears.
THE WHY
• The senator believes that this drastic cut is necessary to prevent the economy from falling into a recession.
• Warren’s suggestion comes in the wake of a report that showed U.S. manufacturing activity has contracted for the first time in three years.
THE REACTION
• Critics argue that such a significant rate cut could lead to inflation and potentially destabilize the economy.
TOPICS COVERED
#FederalReserve #Recession #InterestRates
SOURCE NOTE
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