US Fed Rate Cut: Sen. Warren Calls For 0.75% Reduction, Crypto To Rally?

Three Democratic senators, led by Elizabeth Warren, are urging Federal Reserve Chair Jerome Powell to slash the central bank’s interest rate by 75 basis points to safeguard the U.S. economy. In a letter sent to Powell on Monday, Warren, along with Senators Sheldon Whitehouse and John Hickenlooper, emphasized the urgency of a Fed rate cut to avoid the risk of the economy tipping into a recession.