World Economy

Negative Rates Working

Negative Rates WorkingNegative Rates Working

Federal Reserve Vice Chairman Stanley Fischer said negative interest rates seem to be working in other countries, while reinforcing that they aren’t on the table in the US. While the Fed isn’t “planning to do anything in that direction,” the central banks using them “basically think they’re quite successful,” Fischer said Tuesday on Bloomberg Television in Washington. He reiterated that Fed rate increases will be data dependent without giving a specific timeline. Fischer’s comments on negative rates come days after Chair Janet Yellen left the subject out of a speech on the future US monetary policy toolkit, suggesting that they’re not an option that’s up for discussion at the Fed.