A Fed-convened committee proposed two alternative rates.

A Fed-convened committee proposed two alternative rates.

New York Fed unveils 'overnight bank funding rate' as longtime benchmark fades.

New York Fed unveils 'overnight bank funding rate' as longtime benchmark fades.

Both the Japanese and European central banks recently moved benchmark rates into negative territory.

Both the Japanese and European central banks recently moved benchmark rates into negative territory.

Chicago Fed president Charles Evans is nervous about the December decision, and anticipates rates may remain below 1 percent at the end of 2016.

Chicago Fed president Charles Evans is nervous about the December decision, and anticipates rates may remain below 1 percent at the end of 2016.