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.

SRES 347 is a non-binding Senate resolution expressing the chamber's view that the Federal Reserve should lower interest rates. It urges the Board of Governors and Federal Open Market Committee to take "immediate steps" to reduce rates, arguing high rates increase borrowing costs for families (mortgages, loans) and businesses (equipment, expansion), while also raising prices for goods and services. The resolution states that lower rates would support economic growth, job creation, and affordability, though it explicitly acknowledges the Federal Reserve's independence. It does not change policy or require the Fed to act, as resolutions like this only reflect congressional sentiment. The resolution was introduced on July 30, 2025, and referred to the Banking Committee.