Negative rates are not a good thing? One of the reasons there is insane demand for US dollar currency is because people in countries with negative rates don't like having their money stolen and they are charged for keeping cash in accounts, so they trade for dollars and put them in safes in the bank. Our Fed sees this insane demand and misreads the cause and responds inappropriately.
Negative rates are insane. We don't want them. They are literal theft of our savings. And this will end the Fed as we know it, but they already have the replacement. They have plans for a digital currency with one of the stated purposes being that people cannot escape negative rates with cash.