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Fed officials seem ready to deploy negative rates in next crisis
By Greg Robb
MarketWatch.com, New York
Saturday, October 10, 2015
Federal Reserve officials now seem open to deploying negative interest rates to combat the next serious recession even though they rejected that option during the darkest days of the financial crisis in 2009 and 2010.
"Some of the experiences [in Europe] suggest maybe can we use negative interest rates and the costs aren't as great as you anticipate," said William Dudley, the president of the New York Fed, in an interview on CNBC on Friday.
The Fed under former chairman Ben Bernanke considered using negative rates during the financial crisis, but rejected the idea.
“We decided -- even during the period where the economy was doing the poorest and we were pretty far from our objectives -- not to move to negative interest rates because of some concern that the costs might outweigh the benefits," said Dudley. ...
... For the remainder of the report:
http://www.marketwatch.com/story/fed-officials-seem-ready-to-deploy-nega...
... For the CNBC interview:
http://video.cnbc.com/gallery/?video=3000430855&play=1
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