.The article throws out a number of justifications for this view. One particularly confusing line points to “academic research” showing low interest rates cause asset bubbles but links to a theoretical paper on the natural rate of interest and inequality which doesn’t discuss bubbles. This is the only real justification for the assertion in the article. Plenty of debt fueled bouts of asset price increases have continued amid high interest rates and rising interest rates. Meanwhile, Federal Reserve interest rate hikes from August 2004 to August 2006 did little to cool the U.S. housing market. That’s no surprise when banks were systematically committing fraud in order to gain double digit returns. How high does Foroohar want the U.S. to raise interest rates?