Business Insider: America's 'Free Lunch' Attitude About Its Debt Will Change as Rates Remain Higher for the Next Decade, Harvard Economist Says
Article by Jennifer Sor in Business Insider
The view that America can take out debt like it's "free lunch" has to change, as interest rates will be elevated for the next decade, according to top economist Kenneth Rogoff.
The Harvard professor and former International Monetary Fund economist predicted that interest rates would likely stay higher than markets are used to, even if they temporarily fall ahead of the next recession.
That's due to an array of pressures that will keep borrowing ......