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Why The Fed Will Go Negative
Until now, the US has avoided the negative rate phenomenon that has become embedded in the monetary and fiscal environment of Europe and Japan. To recycle and parody parts of a phrase that former Fed Chairman Ben Bernanke used almost twenty years ago reflecting on deflation in Japan – “It (Negative Rates) will likely happen here too”. The US Fed has resisted cutting rates below zero so far. In my opinion, it is only a matter of time before either current Fed Chairman Jerome Powell or the one to follow him announces negative interest rates in the US, not because they want to, but because they are forced to. And ... (full story)
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