The back-up in US long-term interest rates from 1.6 percent in May to around 2.9 percent at present seems to be dampening the US housing and durable-goods markets. One would think that a further significant back-up in US long-term interest rates could prevent the US economy from recovering at a pace that would reduce large gaps in the labor market.
The back-up in US long-term interest rates from 1.6 percent in May to around 2.9 percent at present seems to be dampening the US housing and durable-goods markets. One would think that a further significant back-up in US long-term interest rates could prevent the US economy from recovering at a pace that would reduce large gaps in the labor market.