Fed not considering negative rates – Powell
US Federal Reserve Chair Jerome Powell stressed today (May 13) that the central bank was not considering implementing a negative interest rate policy, despite some market expectations of such a move.
He also said the economy could be in for a “extended period” of weak growth and depressed incomes, warning that its lending policies would only be effective “for a while” and that more fiscal support may be required.
Powell’s comments on negative rates followed market activity last week that
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