Pres. Trump: I like negative rates
|US President Donald Trump says he likes native rates. There has been no reaction in the US dollar so far, as the market pays more attention to the Federal Reserve than the US government at this point.
Key comments
We should absolutely open schools
We have now surpassed 10 mln COVID-19 tests
Feels strongly we should have negative interest rates.
Disagrees with Fed on negative rates.
Powell has done a good job over the past few months.
Despite differences on negative rates, feel Powell's performance as Fed chair has improved.
The House stimulus bill is dead on arrival.
More to come...
ALL FOMC members against negative rates
Meanwhile, Fed's Powell's comments fulled a spike in the US dollar on Wednesday, further adding to the bearish case for AUD/USD. Powell noted that the FOMC's view on negative rates has not changed and reiterated that it's not something the Fed is looking at.
"The Fed intends to continue using tools it has already tried," Powell said in answer to questions at an event organized by the Peterson Institue for International Economics.
Previous minutes on negative rates debate
DXY update
US Dollar Index Asia Price Forecast: Greenback regains the 100.00 mark, bullish
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