Low interest rates has driven up land prices/homes for over 20 years and now is effecting the cost of leases for new business' nation wide and cost of rents nationwide. It has driven investor class to invest in gambling on commodities driving up costs of these commodities which most of us need to exist but not all. These banksters and millionaires became billionaires and maybe trillionaires.
It is disgusting that people are still writing articles to keep rates low. Yes, I have a vested interest - my savings as I do not invest in the gambling institutions that the Feds created and only have CD's and savings which make close to zero.
Jobs have not been created for over 25 years or lets say net jobs after all the losses of jobs to overseas slave shops created by the multinationals who benefited from the Fed actions. China has become a powerhouse because of our multinational billionaires from around the world using China's sweat shops.
Middle class continued to grow during the 70's and 80's with very high interest rates because these corporations were paying taxes and creating jobs and paying their workers well even though they were kept in line by strong unions which started to be destroyed by Saint RR. Wages have not increased since and the interest rate being low since early 90's has not created jobs in any large numbers, Internet created wealth in the 90's for a few and the housing market kept our economy afloat even though it was becoming a bubble like the internet IPO bubble created by banksters.
Low interest rates created Billionaires and Trillionaires.