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Fed nominee Waller: Would cut interest rates to zero during next downturn

Judy Shelton and Christopher Waller, President Donald Trump's latest nominees to the Federal Reserve Board, are responding to questions from Senators on Thursday.

Waller said he would look to cut interest rates to zero and use forwards guidance in the next economic downturn and added that he would not want to use negative interest rates in a future downturn.

Shelton said she would "very reluctantly" support quantitative easing. "The Fed can always engage in purchases of assets during the next downturn," Shelton added.

USD reaction

These comments don't seem to be having a significant impact on the greenback. As of writing, the US Dollar Index was posting small daily gains at 99.03.

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