Federal Reserve Chairman Powell opposes negative rates despite Trump entreaties
At least for now, but we would not be surprised if the Fed changed its mind sooner than later.
(From The Washington Examiner)
Powell said that all members of the Federal Open Market Committee oppose using negative rates.
“That is not a sentence you get to say very often — all FOMC participants see negative rates currently do not appear as an attractive monetary policy,” Powell said, adding that the “evidence on negative rates is very mixed. … There is research that says they’ve been effective. There are plenty of doubters.”