In Praise of High Interest Rates

The Federal Reserve on the National Mall in Washington, in a file photo. Chip Somodevilla/Getty Images

Commentary

Almost daily, there’s an interest rate panic in the markets and in the population in general. Look at the 10-year Treasury! It’s fully 5 percent! And have a look at mortgage rates at 8 percent! Have you seen credit card rates? They’re exceeding 20 percent! No one can afford to live this way.