Bank loans are tied to US government interest rates because borrowers are competing with the government to borrow money, not because the banks are relying on i

Bank loans are tied to US government interest rates because borrowers are competing with the government to borrow money, not because the banks are relying on it in some economically fundamental way. (It might be fundamental to some bank’s business plan, especially in the moment, I’ll grant that.) Although I will admit, the only story in which the US government debt is anything other than insanely irresponsible, destined to become a millstone around our necks for decades to come? That one involves growth, and lots of it.