Democratic senators write to Fed suggesting rate cut

Three Democratic senators wrote a letter to the Federal Reserve stating that it's time to lower interest rates. The letter also suggests that the Fed should abandon its 2% inflation target. The senators believe that the high interest rate environment, which is aimed at suppressing inflation, has increased the costs of housing, construction, and car insurance, exacerbating inflation and potentially pushing the economy into recession, "pushing thousands of American workers out of their jobs."