I think miners just needed a solid correction like they just had. It was about time they all got washed out. Took out the weak hands and let others get better prices.
Janet Yellen didn’t bring in Goodfriend for entertainment. She wanted to learn how to implement NIRP.
Marvin Goodfriend of Carnegie Mellon University, is an unabashed NIRP proponent.
His paper “makes the case for unencumbering interest rate policy so that negative nominal interest rates can be made freely available and fully effective as a realistic policy option in a future crisis.”