Might as well call this the Jimmy Carter effect. Higher interest rates will also cause employers to not borrow to expand thereby not hiring or even laying off workers because of high interest expenses.
Idiots in Washington.
Isn’t the flip side to this, is that banks aren’t going to lend money with rates being so low too? I’m in construction and building is down by 40-50%.
It’s like we’re screwed no matter which way we chose to go.