Interest rates have been so low for so long, they would have a ways to go even before reaching historic norms. A perception that there will be even less breaks put on federal spending due to Democrats in both houses of Congress and the presidency of Joe Biden can bring speculation that rates will go up.
I think there's been lots and lots of spending anyway and rates have been low.
Sometimes, almost like fads, things like interest rates, or commodity prices will fluctuate. They may spike like panic buying and then fall again.
I remember when electricity rates on the spot market went into panic buying mode. That was a big factor behind the demise of Georgia Pacific Pulp Mill in Bellingham back around 2000. Electricity rates fell again.
Funny coincidence. It made toilet paper; another thing now talked about related to panic buying during the pandemic.
I think interest rates have been too low for years anyway. Existing assets, like homes, have been inflating in price.
We'll need to build some new things for infrastructure and for creation of meaningful jobs.
If the federal Reserve prints money anyway, it ought to provide a special window for government to borrow from at bottom rates while homeowners, art collectors, speculators and so forth have to pay the regular market rates.
I know, I sound like a socialist.
Some private money goes to things besides places to just park the money. Elon Musk seems to find exciting uses for his money. Maybe blasting a car into space wasn't the best idea; except for symbolically inspiring.
I'm a fan of science and space exploration however. Electric cars are needed and better batteries. Things that Elon Musk's companies do as well.