Finance

Goldman Sachs on Federal Reserve, negative interest rates

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Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC.

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Another “big setback” in the U.S. economy could prompt the Federal Reserve to consider cutting interest rates into negative territory — but such a monetary policy wouldn’t be “very helpful,” a Goldman Sachs strategist said on Thursday.

Fed Chairman Jerome Powell on Wednesday reiterated that the central bank is not considering negative interest rates at this point, even as other central banks — such as the Bank of England — appeared to be opened to the idea.

When asked what could change the Fed’s mind on negative interest rates, Zach Pandl, Goldman Sachs’ co-head of global foreign…



Source cnbc.com

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