What Powell said About Negative Interest Rates, Their Effect on Banks, Jawboning, and Why the Fed Might Not Buy a Lot of Junk Bonds
The reasons behind the Fed’s No-NIRP stance: It doesn’t work and kills bank stocks. One of the most revealing statements. By Wolf Richter for WOLF STREET. Over the years, the Fed has waffled on all kinds of things, from what represents “price stability” …