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The Federal Reserve is not restraining the economic growth, greater productivity is needed to boost the economic growth, Richmond Fed President Thomas Barkin argued on Friday.

Regarding the use of negative interest rates, Barkin explained that he hasn’t yet seen anything in Europe or Japan that makes him interested in negative interest rates.

In the meantime, the US Dollar Index is staying flat on the day near 96.80 following a sharp drop during the American trading hours on the disappointing ISM PMI data.