On: The Fed Wants to Test How Banks Would Handle Negative Rates

[ojbyrne]

Do you have money in a checking account? Since there still is some inflation, checking accounts pay a negative rate, after inflation. In fact its even pretty hard to find a savings account that pays > inflation rate.

[jerf → ojbyrne]

The relevant measure is "cash in hand" vs. "cash in checking account", not the absolute value change.