Fed vice chair praises success of negative rates in other countries

But not on the table for the US

Stanley Fischer, vice chairman of the Federal Reserve, has said negative interest rates seem to work in other countries though the Fed is not "planning to do anything in that direction".

Fischer (pictured) , who is also the former Bank of Israel governor, told Bloomberg: "We are in a world where they seem to work", referring to negative rates in various countries across the world. However, Fischer pointed out negative rates are difficult to deal with and reiterated the policy was not on the table for the US. His comments comes shortly after Fed chair Yellen's speech on the future US monetary policy toolkit, which did not make any mention of a negative interest rate policy. Bank of England governor Mark Carney also rejected the idea of negative rates as an effective...