Comment: It‘s time to consider negative interest rates

Deeply negative interest rates may not be a panacea for the world economy in the post-pandemic world, but that doesn’t mean they shouldn’t be considered as an early step towards recovery

5th May, 2020
Comment: It‘s time to consider negative interest rates
In the US, the Federal Reserve, above, is on track to backstop virtually every private, state and city credit in the economy.

For those who viewed negative interest rates as a bridge too far for central banks, it might be time to think again. Right now, in the US, the Federal Reserve – supported both implicitly and explicitly by the Treasury – is on track to backstop virtually every private, state and city credit in the economy.

Many other governments have felt compelled to take similar steps. A once-in-a-century (we hope) crisis calls for massive government intervention,...

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