Experience Stern | News & Events

Excerpt from Bloomberg -- "Cecchetti and co-author Kermit Schoenholtz, of New York University’s Stern School of Business, suggest a 'cash reserve account' that would keep people from having to pay for things by sending cash in armored trucks. During the day, funds in the account would be payable just like money in a checking account. But every night they’d be swept into cash held in a vault, sparing the money from the negative interest rate that would apply to money in an ordinary checking account."

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