This wasn't supposed to happen. In fact, many said it was impossible up to and including central bank officials at the Federal Reserve. Yet, one of them, the head of the all-important New York branch, just released a report which say the market is taking ZIRP possibilities very seriously - and so should those at the highest levels of the Fed.

Eurodollar University's Money & Macro Analysis

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FRBNY Liberty Street Blog The Zero Lower Bound Remains a Medium‑Term Risk
https://libertystreeteconomics.newyorkfed.org/2025/07/the-zero-lower-bound-remains-a-medium-term-risk/

FOMC Transcript March 2007
https://www.federalreserve.gov/monetarypolicy/files/FOMC20070321meeting.pdf

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You Won’t Believe What the Fed Just Said About Interest Rates