The low interest rates actually did help stimulate things by the end of the slow job recovery that we got throughout the Obama era. The tech-based engine would not be as strong without this period. However, the apps that we scroll or the delivery services that we have don't necessarily raise living standards. And who's worth the most? Companies that lose money.
The Federal Reserve has once again raised interest rates, which means borrowing money for your mortgage or your business is once again more expensive. New York Times economics reporter Talmon Joseph Smith explains why this might keep happening.
This episode was produced by Miles Bryan and Amanda Lewellyn, edited by Matt Collette, fact-checked by Serena Solin, engineered by Michael Raphael and Paul Robert Mounsey, and hosted by Noel King.
Transcript at vox.com/todayexplained
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