# Prof. Kim Schoenholtz's blog post on negative nominal interest rates is cited

1 Faculty News March 6, 2015 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://krugman.blogs.nytimes.com/2015/03/06/the-below-zero-lower-bound/) -- "Cecchetti and [Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) argue that given a little time banks or other financial institutions ought to be able to store currency for clients at very low cost — as they say, turning back into the goldsmiths from which banks as we know them evolved — and might even be able to provide some checking-like services on the side."

[Read more](http://krugman.blogs.nytimes.com/2015/03/06/the-below-zero-lower-bound/)