GEOPOLITICS | Orlik Says Higher Rates May Be the New Normal

Bloomberg Economics Chief Economist Tom Orlik said higher interest rates may be the new normal, leaving governments, businesses and households with rising debt costs after years of cheap borrowing, according to Bloomberg. He said Fed Chair Kevin Warsh faces a key test at next week's meeting as markets signal expectations for tighter policy, which could put the central bank at odds with US President Donald Trump's preference for lower rates.