TS Lombard: higher rates may hit less as private borrowing shrinks
TS Lombard says private-sector borrowing is taking a shrinking share of U.S. debt growth, potentially weakening how higher interest rates transmit into the economy.
S. debt growth, which may weaken the effect of higher interest rates, according to TS Lombard. Economist Steven Blitz said monetary policy has less ability to slow the economy as private borrowing becomes a smaller part of debt growth.