The Fed is studying the feasibility of negative interest rate policy – Sohu news boee

The Fed is on the negative interest rate policy feasibility – Sohu news Xinhua news agency in Washington on 11 February, (reporter Gao Pan Jiang Yujuan) Federal Reserve Chairman Yellen said on the 11, take the feasibility of the negative interest rate policy of the Fed is studied when necessary, but it is not clear whether the Fed has the legal authority to launch this policy. Yellen testified in the Senate Banking Committee on the same day that the Fed had considered the negative interest rate policy in 2010, but the Fed officials worried that it would affect the normal operation of the money market, saying that the policy was not feasible. Yellen said that based on the euro zone and some other countries have implemented a negative interest rate policy, the Federal Reserve is once again studying its feasibility, but has not yet completed the policy evaluation. In order to stimulate economic growth and encourage lending, the Central Bank of the European Central Bank and the Central Bank of Japan and other developed economies have implemented a negative interest rate policy, the commercial banks and other financial institutions stored in the central bank’s funds to collect interest. Yellen said that the Federal Reserve needs to study its feasibility before adopting negative interest rate policy, including whether the U.S. funds settlement and payment system can deal with negative interest rates, and whether the negative interest rate policy is facing legal restrictions. She said that the Fed has not yet carried out detailed legal analysis of this. Asked if the Fed would be more likely to raise interest rates or cut interest rates next year, Yellen said the Fed was still on the track of gradual interest rate hikes. She pointed out that the Fed had noticed the recent turmoil in the global economic and financial markets and was assessing its impact on the outlook for us economic growth, but it was too early to draw conclusions. She believes that the current downside risks facing the U.S. economy is not enough to make the Fed cut interest rates. Analysts believe that Yellen’s statement means that the Fed may slow the pace of interest rate hike, rather than change the direction of monetary policy. An economist survey released on the Wall Street Journal showed that only 9% of economists expect the fed to raise interest rates in March, and about 60% economists expect the fed to postpone interest rates in June. The survey also shows that economists expect the federal funds rate to rise to 0.94% by the end of this year, according to 25 basis points for each increase in interest rates, which means the Fed may raise interest rates two times this year. Author: Jiang Yujuan (source: Xinhua News Agency)

美联储正研究负利率政策可行性-搜狐新闻  新华社华盛顿2月11日电(记者高攀 江宇娟)美联储主席耶伦11日表示,美联储正研究必要时采取负利率政策的可行性,但尚不清楚美联储是否拥有法律授权来推出这项政策。  耶伦当天在美国国会参议院银行委员会作证时说,美联储曾于2010年考虑过负利率政策,但当时美联储官员担心会影响货币市场的正常运作,认为这项政策并不可行。耶伦表示,基于欧元区和部分其他国家已实施负利率政策,美联储正再次研究其可行性,但尚未完成政策评估。  为刺激经济增长和鼓励放贷,欧洲央行、日本央行等发达经济体央行已先后实行负利率政策,对商业银行等金融机构存储在央行的资金征收利息。耶伦表示,美联储在采纳负利率政策之前需要研究其可行性,包括美国资金清算和支付系统能否处理负利率、出台负利率政策是否面临法律限制。她表示,美联储目前尚未对此进行详细的法律分析。  当被问及美联储下一步更可能采取加息还是降息时,耶伦表示美联储仍处于渐进加息轨道之上。她指出,美联储已注意到近期全球经济金融市场的动荡,正在评估其对美国经济增长前景的影响,但目前下结论为时过早。她认为,目前美国经济面临的下行风险还不足以令美联储降息。  分析人士认为,耶伦的上述表态意味着美联储可能会放缓加息节奏,而非转变货币政策方向。《华尔街日报》当天公布的经济学家调查显示,仅有9%的经济学家预计美联储将于3月份加息,约60%的经济学家预计美联储会推迟至6月份加息。调查还显示,经济学家预计到今年底联邦基金利率将升至0.94%,按照每次加息25个基点计算,这意味着美联储今年可能会加息两次。  作者:高攀 江宇娟 (来源:新华社)相关的主题文章: