Democratic Senators Call on Fed to Cut Rates by 75 Basis Points

Senate Democrats introduce a resolution urging the Federal Reserve to take swift action to lower interest rates.

In a move that could put pressure on the Federal Reserve to take more aggressive action to stimulate the economy, a group of Senate Democrats has introduced a resolution urging the central bank to cut interest rates by 75 basis points at its next meeting.

The resolution, introduced by Sen. Elizabeth Warren (D-Mass.) and Sen. Bernie Sanders (I-Vt.), argues that the Fed has been too slow to respond to the economic slowdown and that a more aggressive rate cut is needed to prevent a recession.

The Fed has cut rates twice this year, but some economists argue that more action is needed.

The Fed has already cut rates twice this year, but some economists argue that more action is needed to boost economic growth and prevent a recession. The unemployment rate has ticked up in recent months, and consumer spending has slowed.

The Fed is scheduled to meet again on July 30-31. The central bank is widely expected to cut rates by 25 basis points at that meeting, but the resolution from Warren and Sanders suggests that some Democrats are pushing for a more aggressive move.

The resolution is unlikely to pass the Senate, but it could put pressure on the Fed to take more action.

The resolution is unlikely to pass the Senate, as Republicans are opposed to a large rate cut. However, the resolution could put pressure on the Fed to take more action at its next meeting.

The Fed is independent from the government, but it is often influenced by political pressure. If the Fed does not cut rates by 75 basis points at its next meeting, it could face criticism from Democrats and could damage its credibility with the public.