US politicians urge Fed to lower interest rates
Democratic senators and congress members say CPI likely to be “grossly overstating” inflation
Members of both branches of the US legislature have written to the Federal Reserve urging the central bank to cut interest rates at its June policy meeting.
Sheldon Whitehouse, chairman of the Senate’s budget committee, and Brendan Boyle, ranking member of the House of Representatives, addressed their letter to Fed chair Jerome Powell on June 10.
Democratic senators Elizabeth Warren, Jacky Rosen and John Hickenlooper also sent Powell a letter with the same overall message on June 10.
“We write
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