Can US financial markets remain robust even without ultra-low interest rates? While not often stated openly, many on Wall Street believe the answer is no. Some have been trying to persuade the Federal Reserve to stop raising interest rates, and even to begin lowering them. The recent collapses of Silicon Valley and Signature Banks, largely a consequence of rates rises, will probably only bolster their case. But why should any of this matter to ordinary Americans? Whether or not we like …
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