In an op-ed published by the Financial Times headlined “Higher Rates for Longer Are a Good Thing,” Sheila Bair, the former chairwoman of the Federal Deposit Insurance Corporation (FDIC), wrote: “Now that the Fed has shifted to a `higher for longer’ stance to combat inflation, our economy will have to make painful adjustments to the rising cost of money. But we need to hold our course. Ultimately, higher rates will lead to a fairer, more productive and resilient economy.”
