Citi CEO Michael Corbat on negative rates and the Fed
Citi CEO Michael Corbat discusses further action the Federal Reserve could take to boost the economy, including why negative interest rates are not an effective option.
Video Transcript
MICHAEL CORBAT: I would argue, and I think that Chair Powell has-- has argued, and argued this, or stated in his testimony, that the transmission mechanism of negative rates isn't necessarily that effective in the places where we've seen it. I think it creates strange behaviors, it creates strange bubbles, and I would say, you know, it hasn't-- hasn't in totality, been all that successful.
