The Fed is saying no to subzero rates.
When the Federal Reserve slashed interest rates to near zero in March, investors began to wonder whether the United States could see negative benchmark rates.
After all, other central banks around the world have had to resort to them. But the Fed has long held a stance against subzero rates -- and its chief says the coronavirus crisis hasn't altered that thinking.
"The [Federal Open Market] Committee's view on negative rates has not changed," Fed Chairman Jerome Powell said during a virtual event at the Peterson Institute of International Economics. "That's not something we're looking at."