“I think this is more normal than zero interest for 10, 12, 14 years,” says former Barclays CEO Bob Diamond to Andrew Ross Sorkin.
Mr. Diamond seems to be in the higher-for-longer camp. He thinks we have adjusted to higher rates. People are relaxed, so no interest rate decreases next year. He notes that during 2008-2019 the Fed Funds averaged less than 1% – “that’s not normal.” Before that, it was about 4%.