Liar, Liar, Pants on Fire
It is fair to assume that without the Fed’s intervention, interest rates today would be higher, but again we cannot know by how much. But the Treasury Secretary is being deceptive when he tells us that our low interest costs are due to the demand and faith of investors. If only that were the case. When he blithely calls on Congress for more stimuli, he risks raising the costs substantially for future generations, in order to satisfy his one short term goal – the reelection of his boss.