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While discussing the Federal Reserve’s monetary policy framework review during a podcast, St. Louis Fed President James Bullard said that negative interest rate policy was one of the possible alternative strategies the Fed was looking at in that review.

“There are other types of policies that probably aren’t getting as much analysis. But one is negative interest rate policies. Those are being used in Europe and in Japan,” Bullard said.

“They haven’t been as popular in the U.S., but that’s something else that certainly could be looked at. There are probably a host of others that we could talk about, but those are probably the main ones.”

These remarks were not related to the short-term monetary policy outlook and were largely ignored by the market participants. As of writing, the US Dollar Index was up 0.08% on the day at 97.90.