Previous high interest rate environments were accompanied by population growth and increases in labor productivity. I don't think there is any historical compar

Previous high interest rate environments were accompanied by population growth and increases in labor productivity. I don't think there is any historical comparison to a high rate, no population/productivity growth scenario. I think at the very least those conditions won't provide for GDP increases but I also think capital re-allocation throughout the economy seems necessary to return to "healthy" growth conditions.