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Fed nominee Goodfriend, fan of negative rates, could roil debate [Reuters]

BANK of NEW YORK MELLON (BK)  More Company Research Source: Reuters
Last bank of new york mellon earnings: 4/19 06:30 am Check Earnings Report
PDF Fed nominee Goodfriend, fan of negative rates, could roil debate | Reuters 6 Min Read WASHINGTON (Reuters) - Republicans on Capitol Hill, who this week are to begin considering economist Marvin Goodfriend for a Federal Reserve board seat, will find much they like in his criticism of Fed bond buying, support for low inflation, and agreement that Congress should put tighter limits on the central bank. Dig deeper and the picture gets more complex, of an academic who has put his heft behind controversial ideas like negative interest rates, proposed taxing cash as a way to implement them, and, had he been in command, might have delayed raising interest rates even longer than Fed Chair Janet Yellen. With views that are at once old school and provocative, former colleagues and academic acquaintances say they expect Goodfriend to try to reshape how the Fed operates, how it fights future crises, and how it relates to Congress. The last of those could prove particularly divisive given the many [Read more]

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