The U.S. won't have negative interest rates, says Fed Chair Powell
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As President Trump calls for negative rates, Federal Reserve Chairman Jerome Powell tells 60 Minutes the central bank won't lower interest rates below zero.Jerome Powell, Chairman of the Federal Reserve, said the central bank remains averse to using negative interest rates to respond to the economic impact of the coronavirus pandemic."I continue to think, and my colleagues on the Federal Open Market Committee continue to think, that negative interest rates is probably not an appropriate or useful policy for us here in the United States," Powell told 60 Minutes correspondent Scott Pelley.
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