Tell me about it. I have the worst timing: started building a house in November, so I bought near the top, and then when it came time to get financing (I close next month), it's the first time that rates have risen significantly in years.
It's not clear whether they will succeed but should be enough of a threat that the only way to combat an attack on USD would be to raise rates significant enough on top of the pressure from inflation (nobody is buying that we have only 8% inflation, many economists are putting it at about 17%, which is absolutely unprecedented and we can no longer print money, somewhere around over half of the current USD supply was printed post 2020!!!! this is not sustainable!)
Recall that in the 70s, 80s, we had double digit interest rates.
14%: The GDP was 3.2% in 1979, unemployment was 6.0%, and inflation was 11.3%.
20%!!!!: The GDP was -0.3% in 1980, unemployment was 7.2%, and inflation was 13.5%.
In fact it took from 1979 to 2002 for rates to come low to what we have had
1.25%: The GDP was 1.7% in 2002, unemployment was 6.0%, and inflation was 1.6%. The following tables have data taken from The Federal Reserve.
0.25% !!!: In 2008, The GDP was 0.1%, unemployment was 7.3%, and inflation was 3.8%. As of Dec. 16, 2008, the target funds rate became a range, represented in the tables by the upper limit.
Source? I have not seen any place saying that besides garbage websites like shadowstats.