Press Release

McHenry Questions Fed Chair Yellen on Negative Interest Rates

Chair Yellen acknowledges Fed has not established legal authority for negative rates

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Washington, February 10, 2016 | Jeff Butler (202-225-2576) | comments

Chief Deputy Whip Patrick McHenry (R, NC-10), the Vice Chairman of the House Financial Services Committee, questioned Federal Reserve Chair Janet Yellen on whether the Fed has legal authority to pursue negative interest rates. In her response, Chair Yellen acknowledged the Federal Reserve has not yet established if it is legal to pursue negative rates. Click here or on the image below to see full video of the exchange:

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