US economy is in the great trouble due to the use of high interest rates. These high interest rates are influencing the economy in negative manner. A warning about NIRP (Negative Interest Rate Policy) has also be declared by Fed Chair Janet Yellen in United States.
On the other hand, monetary policy makers and political groups are also emphasizing to carry on the war on cash as well. They just want to become it more tough for citizens to hold large amounts of cash. According to the supporters of war on cash, these high amounts of cash are being used in criminal activities including the business of drugs and terrorism activities. Actually, the main goal of such wars on cash is the convert the typical currency into digital currency.
However, negative interest rate policy has also many plus points such as it is promoting the healthy or spur inflation in the society. On the other hand, negative interest rate policy also dreary the ratio of saving or interest rate oriented investments in the society. My husband also didn't prefer to saving after transferring to Malmstrom, Air Defense territory of Montana.
On the other hand, due to negative interest rate policy many institutes have also increased their fees for financial services as well. According to NIRP, interest rate should be decrease near about -0.3%, -0.4%, -0.5% but in US and Japan its ratio is only -0.1%.