RATE Group | No, Donald Trump, Negative Rates Aren’t a ‘Gift’ Bitcoin Advocates Warn
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No, Donald Trump, Negative Rates Aren’t a ‘Gift’ Bitcoin Advocates Warn

13 May No, Donald Trump, Negative Rates Aren’t a ‘Gift’ Bitcoin Advocates Warn

Posted at 09:13h in Bitcoin News by

Bitcoin (BTC) bulls were lambasting United States president Donald Trump this week as he called on the Federal Reserve to tax people’s savings.

In a tweet on May 11, Trump renewed pressure on the Fed, which he has long suggested should “keep pace” with Europe in lowering rates. 

Trump: the U.S. needs negative interest rate “gift”

The European Union first introduced negative interest rates in 2014.

Trump wrote:

As long as other countries are receiving the benefits of Negative Rates, the USA should also accept the ‘GIFT’. Big numbers!

Negative rates essentially involve charging banks — and therefore savers — to store money. Fed chair Jerome Powell has said he is against their introduction, but last month, an ex-official joined calls to send U.S. rates negative for the first time in history.

“The U.S. Federal Reserve should fight a rapidly deepening recession by taking interest rates below zero for the first time ever,” former Minneapolis Fed president Narayana…

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