Yellen says Fed unsure about legal issues surrounding negative rates
Fed chair tells Congressional committee she sees no reason why the Fed could not cut below zero
The Federal Reserve has "not fully investigated" the legal issues surrounding its ability to implement negative interest rates, Fed chair Janet Yellen told a Congressional committee today (February 10).
While Yellen insisted she knew of no reason the Fed could not cut rates below zero, she acknowledged it would "need to investigate" whether it had the necessary authority.
"I am not aware of anything that would prevent us from doing it, but we have not fully investigated the legal issues," Yellen
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