Us Congress Senate Bill SR347

Us Congress 2025-2026 Regular Session

• Introduced: 7/30/25
• Refer: 7/30/25

Caption

A 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.

Impact

The resolution highlights the concerns around elevated interest rates which are seen to increase borrowing costs not only for families but also small businesses and domestic industries. By advocating for a reduction in rates, the bill suggests that this could lead to more favorable conditions for homeownership, education, and entrepreneurship. Notably, it also implies that lowering these rates could stimulate further investment in critical sectors such as housing, manufacturing, and technology, which are essential for robust economic expansion.

Summary

SR347 is a resolution introduced in the U.S. Senate that expresses the sense of the Senate regarding the actions that should be taken by the Board of Governors of the Federal Reserve System and the Federal Open Market Committee. Specifically, the resolution calls for immediate steps to lower interest rates with the intention of fostering economic growth, job creation, and making living more affordable for American families and businesses. The proponents argue that high interest rates hinder economic activity and access to affordable credit, thus limiting the capacity for growth.

Contention

The document also mentions criticism from former President Donald J. Trump, who states that current rates are excessively high and detrimental to the national economy. He suggests that high rates are costing significant amounts in refinancing the national debt and believes that inflation is low enough to warrant a decrease in these rates. While the resolution aims to guide the Federal Reserve in making more accommodative monetary policies, it also raises discussion about the balance of lowering rates while maintaining economic stability, which may be a point of contention among policymakers.