Negative interest rates are wonderful, writes Izabella Kaminska, if the objective is to kill off...

|By:, SA News Editor

Negative interest rates are wonderful, writes Izabella Kaminska, if the objective is to kill off banks and insurers. Earnings are already under enough pressure and flat/inverted curves at the short end are hurting even more. Add this to the growing list of unintended consequences of central bank actions, and as a caution to the Fed as it debates cutting deposit rates to zero.