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Wells Fargo and several prominent figures are urging the Federal Reserve to implement aggressive interest rate cuts. Wells Fargo economists suggest a reduction of 2 percentage points to stabilize the economy. In an interview with CNBC, a leading economist echoed this sentiment. Congressman Ritchie Torres has publicly called on Federal Reserve Chair Jay Powell to immediately lower rates, warning of the risk of recession if action is delayed. Torres criticized the current monetary policy as 'recessionary Russian roulette,' emphasizing the urgency of the situation.
I am calling upon the @federalreserve to immediately cut interest rates. The Fed has the power to save the economy from the self-inflicted wounds of a kamikaze interest rate policy that has kept rates too high for too long. https://t.co/IkayDnXpxx
'TIME IS RUNNING OUT': Dem congressman accuses Federal Reserve Chairman Powell of playing "recessionary Russian roulette" for not immediately slashing interest rates: https://t.co/hgoxvF5l22 https://t.co/N9m6SAkpLo
I am calling on the Federal Reserve to immediately cut interest rates. The longer the Fed takes to cut interest rates, the greater the risk of a recession. The Fed must stop playing recessionary Russian roulette and save the economy from an increasingly self-destructive monetary… https://t.co/Tdr8qmQ0EM
