The Case for High Interest Rates

The New Republic

Left

Mixed Factuality

Independent: Win McCormack

The Case for High Interest Rates

If the United States economy is an old Chuck Jones Warner Brothers cartoon—and who’s to say it isn’t?—then Federal Reserve Chairman Jerome Powell is Wile E. Coyote. Wile E. Coyote is always trying and failing to vanquish Roadrunner, who in this allegory stands for economic growth. Wile E. Coyote uses every instrument of destruction he can think of to kill Roadrunner. None of them work. Instead, these assaults make Roadrunner stronger and faster.…