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Ultralow borrowing costs face a painful reset for the US economy
The long run of ultralow interest rates, about two decades, is expected to give way to faster readjustment that could raise risks for the US financial system.
After about two decades of ultralow borrowing costs, the United States faces a new period of rapid interest rate readjustment, according to a New York Times Business analysis.
The outlet frames the shift as potentially consequential for the US, given its role as the world’s largest economy and a central hub of the global financial system.
The concern is not only about higher costs, but about the broader risks that can emerge when markets and borrowers accustomed to very low rates adjust quickly.
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