What Good are Negative Rates if the Fed’s Unwilling to Use Them?

Miles Kimball has a new column suggesting that negative interest rates are the magic bullet that would have produced a robust recovery in late 2009: The paper Robert Hall presented at last month’s Jackson Hole conference (pdf) on monetary policy has a good statement of this widely-held view that the zero lower bound has been a [...] View the full post at: What Good are Negative Rates if the Fed’s Unwilling to Use Them? Related posts: Switzerland: Could Interest Rates Go Negative? Why Negative Nominal Interest Rates Miss the Point Fed Hoenig’s View on Interest Rates and Inflation