2008 May Be A Walk In the Park Compared to 2023 | What To Look For

Interest rates refer to the cost of borrowing money, and they can have a significant impact on the economy and individual financial well-being. When interest rates rise, it generally becomes more expensive to borrow money, which can have a negative impact on individuals and businesses that rely on borrowing to finance their operations or make large purchases.

Historically, rising interest rates have also been associated with increases in the cost of living, as higher interest rates can lead to higher prices for goods and services. This can disproportionately impact lower-income individuals and families, who may have a harder time absorbing the increased costs. The divide between the rich and poor can therefore be exacerbated by rising interest rates, as the wealthy are able to weather the negative impacts of higher interest rates more easily due to their financial resources.

One famous quote about inflation, which is often closely tied to interest rates, is by economist Milton Friedman, who said, "Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output." This quote highlights the idea that inflation, and by extension rising interest rates, can often be driven by the supply of money in the economy, and that efforts to control inflation may need to focus on the monetary policy decisions made by central banks.

TOPICS AND TIMESTAMPS:
Recession and Crisis of 2023 0:00
Economic Indicators 7:38

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