Warren wrote to Powell: High interest rates in the United States slow economic growth, and interest rates should be lowered as soon as possible

US Senator Elizabeth Warren wrote a letter to Jerome Powell, the Chairman of the Federal Reserve, expressing concern about the current high interest rate policy in the United States. She called on the Federal Reserve to take action to adjust the interest rate policy to avoid further impact on economic growth and financial stability. Elizabeth stated that the US interest rate is at its highest point in the past 20 years, at 5.5%. High interest rates have been in place for some time, slowing economic growth and failing to address the main driving factors of inflation. The European Central Bank has lowered interest rates for the first time in five years in an effort to control inflation at the target level of 2%. Due to the Federal Reserve's maintenance of high interest rates, the gap between US and European rates is widening. This could lead to a stronger dollar and tighter financial conditions.