Three Democratic senators urge the Federal Reserve to cut interest rates by 75 basis points this week

Three Democratic senators in the United States urge Federal Reserve Chairman Powell and other policymakers to significantly lower benchmark interest rates, including a 75 basis point cut this week, to protect the U.S. economy from potential harm. Senators Elizabeth Warren, Sheldon Whitehouse, and John Hickenlooper stated in a letter to Powell on Monday that the Fed must consider more aggressively "front-loading" rate cuts to mitigate potential risks facing the labor market. They warned that if the Fed is too cautious in cutting rates, it could unnecessarily put the U.S. economy at risk of heading towards a recession