Markets Magazine
Whatever the Fed Does Next, Higher Interest Rates Have Changed the World
Economists and top investors weigh in on what tighter money has meant for consumers, governments, workers and traders
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Benchmark US Treasury yields have shot from less than 1% in 2020 to more than 4%, reflecting the raised costs of financing for everyone from mortgage borrowers to business startups. We asked leading economists and investors to reflect on the consequences of tighter money. Their responses have been edited for clarity and length.
How are higher interest rates changing the world?