May 13, 2020 / 9:13 PM / 23 days ago

Trump still wants negative interest rates, but says Fed Chair has improved

WASHINGTON, May 13 (Reuters) - President Donald Trump on Wednesday said he still strongly believes the Federal Reserve should have negative interest rates, but gave a modicum of approval to Fed Chair Jerome Powell who said earlier in the day the central bank would not lower rates beyond zero.

Trump said Powell, whom he frequently criticizes, has improved in his performance as the Fed’s head, but he still disagrees with Powell when it comes to the lending rate set by the central bank.

Powell earlier on Wednesday said the Fed is still not looking at setting rates below zero, and instead pushed lawmakers to use spending to boost the economy during the deadly coronavirus pandemic. (Reporting by Lisa Lambert and Steve Holland Editing by Chris Reese)

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