Mobius: This Is Why the Fed Is Paying Interest to Big Banks: Fed paid about $7 billion in interest to banks, including more than $100 million to Goldman Sachs and more than $900 million to JPMorgan Chase. http://www.bloomberg.com/news/articles/2016-02-10/this-is-why-the-fed-is-paying-interest-to-big-banks
SassyD: Yellen says Fed isn’t sure whether it’s legal to adopt negative rates — Feb 10, 2016 — http://www.marketwatch.com/story/yellen-says-fed-isnt-sure-whether-its-legal-to-adopt-negative-rates-2016-02-10
SassyD: Fed May Lack Legal Authority for Negative Rates: 2010 Memo — February 8, 2016 — The Federal Reserve may not have the legal authority to set negative interest rates in the U.S., according to a 2010 staff memo that was posted late last month on the central bank’s website. — http://www.bloomberg.com/news/articles/2016-02-08/fed-may-lack-legal-authority-for-negative-rates-2010-fed-memo
Watchbandit: What would the purpose of negative interest rates?
SassyD: watchbandit .. So banks can CHARGE you for them holding YOUR money & loaning it out and making more money !!
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