As markets begin pricing in the possibility of the Federal Reserve bringing interest rates to negative territory, JPMorgan Asset Management's David Kelly argues that such a policy move makes little sense.
As markets begin pricing in the possibility of the Federal Reserve going to negative rates, JPMorgan Asset Management's David Kelly argues that such a policy move makes little sense.
Jerome Powell, chairman of the U.S. Federal Reserve, pauses while speaking during a news conference in Washington, D.C., on Tuesday, March 3, 2020.Federal Reserve "There is no point ... at all in going to negative rates," Kelly, who is chief global strategist at JPMorgan Asset Management, told CNBC's "Squawk Box Asia" on Friday.
Furthermore, that's not needed at a time when the government is "essentially enabling and monetizing unlimited fiscal .. expansion," he said.
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