Three US senators call for a 75bp Federal Reserve rate cut on Wedndesday

This is a political call, nothing else.

The three:

• Elizabeth Warren (D-Mass.),
• Sheldon Whitehouse (D-R.I.)
• John Hickenlooper (D-Colo.)

sent a letter to Federal Reserve Chair Powell.

• “It is clearly the time for the Fed to cut rates. In fact, it may be too late: your delays have threatened the economy and left the Fed behind the curve”
• “Employment numbers adjust slowly, so the Fed should frontload rate cuts to avoid sliding towards a potential crisis,”

If there was ever a candidate letter for the circular file, this’d be it.

This article was written by Eamonn Sheridan at www.forexlive.com.