Rates Are Up. We’re Just Starting to Feel the Heat.

The Wall Street Journal, Sept. 1, 2023-Greg Ip, Joe Pinsker, Will Parker, Walden Siew, Jennifer Williams-Alvarez, Veronica Dagher and Telis Demos (subscription)
In the decade before the Covid-19 pandemic, governments, businesses and households became addicted to low interest rates, gorging on debt to fund everything from expensive new cars to crisis-fighting stimulus and leveraged buyouts.