Fed’s Fischer Says Negative Interest Rates ‘Seem to Work’ – He Is Completely Wrong

On Aug. 30, Federal Reserve Vice Chair Stanley Fischer said negative interest rates ‘seem to work’ in a Bloomberginterview.
Fischer didn’t elaborate, but he said the central banks in other countries ‘basically think they’re quite successful.’
This is the typical vagueness offered by the Fed regarding almost any policy. However, Fischer has been a professor at the MIT Department of Economics, the governor of the Bank of Israel, and a chief economist at the World Bank. So when he weighs in on the economy, it’s worth hearing what he has to say.

This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ September 1, 2016.