Economics
BlackRock’s Wiedman Joins Schwarzman Blasting Negative Rates
- Negative rates ‘poisoning financial systems,’ Wiedman says
- Such rates look like long-term economic feature, Gundlach says
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Mark Wiedman, head of international and corporate strategy at BlackRock Inc., sounded an alarm about negative interest rates on the day the Federal Reserve lowered its benchmark.
“We’re slouching toward the U.S. moving into negative rate territory,” Wiedman said at the FT Future of Asset Management Summit in New York Wednesday. “Negative rates are corroding and poisoning financial systems.”