119-sres347

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 347 Introduced in Senate

    (IS) ]

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119th CONGRESS
 1st Session
S. RES. 347

 Expressing the sense of the Senate that the Board of Governors of the 
 Federal Reserve System and the Federal Open Market Committee should 
 take immediate steps to lower interest rates to support economic 
 growth, job creation, and affordability for American families and 
 businesses.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 July 30, 2025

 Mr. Moreno submitted the following resolution; which was referred to 
 the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

 RESOLUTION

 Expressing the sense of the Senate that the Board of Governors of the 
 Federal Reserve System and the Federal Open Market Committee should 
 take immediate steps to lower interest rates to support economic 
 growth, job creation, and affordability for American families and 
 businesses.

Whereas high interest rates increase borrowing costs for American families, 
 small businesses, and domestic industries, limiting access to affordable 
 credit for home ownership, education, and entrepreneurial endeavors;
Whereas elevated interest rates contribute to higher costs for goods and 
 services, placing financial strain on households and reducing consumer 
 spending, which is a critical driver of economic growth;
Whereas lower interest rates can stimulate investment and economic activity, 
 particularly in the housing, manufacturing, and technology sectors;
Whereas the Federal Reserve has a dual mandate to promote maximum employment and 
 stable prices, and current economic conditions would benefit from a 
 monetary policy adjustment to prioritize growth;
Whereas President Donald J. Trump has argued that the current Federal funds 
 rate, targeted between 4.25 and 4.5 percent, is at least 3 percentage 
 points too high, costing the United States approximately 
 $360,000,000,000 per point annually in refinancing the costs for the 
 national debt;
Whereas President Trump has stated that inflation is low and companies are 
 increasingly investing in the United States, demonstrating that high 
 interest rates are unnecessary to control price pressures and such rates 
 hinder economic expansion; and
Whereas the Senate respects the independence of the Federal Reserve but 
 recognizes its critical role in fostering a stable and prosperous 
 economy for all Americans: Now, therefore, be it
 Resolved, That it is the sense of the Senate that the Board of 
Governors of the Federal Reserve System and the Federal Open Market 
Committee should immediately take such actions as may be necessary to 
reduce interest rates, especially the Federal funds rate.
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