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Americans Learned a Financial-Crisis Lesson. Washington Did Not.

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Americans Learned a Financial-Crisis Lesson. Washington Did Not.
The National Debt Clock is seen at a bus stop in Washington on July 31, 2023. Madalina Vasiliu/The Epoch Times
Veronique de Rugy
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Commentary

Congress and the Biden administration seem unaware that rising interest rates are about as “transitory” as they told us inflation would be—meaning, likely to be around for quite a while. Why does this matter? Ask someone who’s been enticed by a mortgage with a variable interest rate that starts low and then rises quickly when conditions change.

Veronique de Rugy
Veronique de Rugy
Author
Veronique de Rugy, Ph.D., is a senior research fellow at the Mercatus Center at George Mason University. She has testified numerous times in front of Congress on the effects of fiscal stimulus, debt, deficits, and regulation on the economy. Previously, de Rugy has been a resident fellow at the American Enterprise Institute, a policy analyst at the Cato Institute, and a research fellow at the Atlas Economic Research Foundation.
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