WH adviser Hassett: Would support negative interest rates
|White House Council of Economic Advisers Chairman Kevin Hassett said on Friday that he would support it If the US Federal Reserve were to decide to push interest rates into the negative territory.
Commenting on the NFP report, Hassett argued that the Unemployment Rate is likely to rise further in May and could be around 20-25%.
Market reaction
These comments had little to no impact on market sentiment. As of writing, Wall Street's main indexes were up between 0.7% and 1.4%.
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