Breaking: Powell says negative rates not something Fed is looking at

Jerome Powell, Chairman of the Federal Reserve System, noted that the FOMC's view on negative rates has not changed and reiterated that it's not something they are looking at.

"The Fed intends to continue using tools it has already tried," Powell noted while responding to questions an event organized by the Peterson Institue for International Economics. "Previous minutes on negative rates debate says all FOMC participants were against them."

Market reaction

The US Dollar Index edged higher on these comments and was last seen at 99.80, where it was still down 0.2% on the day.