Dallas Fed president Kaplan is skeptical that negative interest rates would have benefits that would outweigh harm

Market news

12 May 2020

Dallas Fed president Kaplan is skeptical that negative interest rates would have benefits that would outweigh harm

Negative interest rates would impact intermediaries, money market funds
I would be against negative interest rates
More fiscal stimulus will be necessary for growth
With an 8%-10% unemployment rate at the end of the year, the overall effect on consumer spending power will be negative
May take to the end of 2021 to work off the excess oil inventories
Permian basin output will shrink by a million barrels a day, will see bankruptcies, restructuring
Drug and vaccine development, testing, contact tracing are essential to bringing economy back

Donald J. Trump @realDonaldTrump: "Crude Oil prices going up as Saudi Arabia cuts production levels. Our great Energy Companies, with millions of JOBS, are starting to look very good again"

U.S. Stocks open: Dow +0.60%, Nasdaq +0.56%, S&P +0.50%

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