No she is not in charge of Germany or a major country but she will soon be in charge of the European Central Bank– the European version of the United States Federal Reserve. Her name is Christine Lagarde and she has won European Union support to become the first female President of the European Central Bank (ECB). It will be the first time a women has been placed in charge of all European banking, as the ECB is one of the largest financial institutions in the World.
Federal Reserve Chairman Jerome Powell said “The Fed will act as appropriate to sustain economic expansion.” Powell claimed “The outlook for the U.S. economy has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates.”
He also said “The crosscurrents have reemerged, with apparent progress on trade turning to greater uncertainty and with incoming data raising renewed concerns about the strength of the global economy.” To add to the disappointments, economic reports also show a big surprising drop in consumer confidence, plus added weakness in the housing market.
A negative interest rate definition: The issuer (for example a bank) will charge negative interest. Instead of receiving interest on the deposit funds, depositors must pay regularly, or have negative interest rates deducted, to keep their money with the bank. This is intended to incentivize banks to lend money more freely and businesses and individuals to invest, lend, and spend money rather than pay a fee to keep it safe.