US President Donald Trump said he feels strongly that the United States should have negative interest rates in light of the novel coronavirus pandemic
WASHINGTON (Pakistan Point News / Sputnik - 14th May, 2020) US President Donald Trump said he feels strongly that the United States should have negative interest rates in light of the novel coronavirus pandemic.
"I feel strongly we should have negative rates," Trump said during remarks at the White House on Wednesday evening.
Trump added that Federal Reserve Chairman Jerome Powell has improved his work at the US central bank.
Earlier on Wednesday, Powell said the Federal Reserve is not considering an option to implement negative rates in response to the pandemic-fueled financial crisis.
The Federal Reserve dropped US interest rates to between zero and 0.25 percent in March and has since launched numerous other fiscal relief responses, including lending to heavily-indebted companies but with the ability to repay under its Main Street Lending program.
Powell said the evidence on the effectiveness of negative interest rates has been "very mixed."
