Federal Reserve Chairwoman Janet Yellen waded into fraught territory before Congress on Wednesday, suggesting the central bank could turn to negative interest rates in an economic downturn, despite legal and other uncertainties.
A U.S. District Judge questioned government lawyers in a hearing on MetLife Inc.’s push to overturn its designation as a “systemically important financial institution”—a tag created by the 2010 Dodd-Frank law that comes with strict oversight.
Prime Minister Shinzo Abe’s economic-revitalization plan was a bet that a committed central bank could jolt Japan out of decades of decline. But the bank’s failure to generate a sustained economic upswing suggests the “Abenomics” program has reached an impasse.
The owner of the British film studio where the Millennium Falcon soared back into action sent its shares into hyperdrive, after it said it has launched a strategic review that could lead to a sale of the business.
At the start of 2016, Americans were bracing for interest rates to rise significantly for the first time since the financial crisis. Instead, rates have slumped anew, rattling financial markets and undoing the plans of investors, consumers and businesses alike.