Economist Kimball: “By the next recession, the U.S. will be ready to employ negative interest rates,”

(From CNBC)

Right now, when a $100 bill is deposited into an account, $100 is added to that account. However, a central bank could create a situation whereby that $100 deposit only led to a $98 increase in the account. That would mean paper currency would have a rate of interest of negative 2 percent, rather than its current 0 percent.

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