Bill > SRes347

This resolution urges the Federal Reserve (the central banking system of the United States) to lower interest rates to support economic growth and help American families and businesses. The resolution highlights several key concerns, including how high interest rates increase borrowing costs for families and small businesses, make goods and services more expensive, and potentially limit economic expansion. The document references the Federal Reserve's dual mandate of promoting maximum employment and stable prices, and suggests that current economic conditions would benefit from a monetary policy adjustment. Specifically, the resolution calls on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to take immediate actions to reduce interest rates, with particular emphasis on lowering the Federal funds rate. The resolution notes that while respecting the Federal Reserve's independence, the Senate recognizes its critical role in fostering a stable and prosperous economy for all Americans. The document also references previous statements by President Trump suggesting that the current interest rates are too high and are hindering economic growth.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-resolution/347/all-info