Fed leaders see negative interest rates as a very last resort, worrying they would have harmful effects on financial markets and the banking industry
Federal Reserve officials are unlikely to consider using negative interest rates to stimulate economic growth in the current coronavirus-induced downturn after concluding the tool’s clear costs outweigh its uncertain benefits.
The topic resurfaced Thursday after investors in futures markets began betting the Fed’s benchmark federal-funds rate would go below zero by year-end, which sent yields on two-year Treasury securities to an all-time low. Rates rose slightly on Friday, and futures contracts implied investors expected...
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