The lead from the BBC's homepage tantalises five ways in which the rise in US interest rates will affect
you. Compelling, no?
Well, unless you live in the US, then by-and-large, no! For it appears that the five ways can be summarised as follows:
- More expensive mortgages and other loans…in the US;
- Smaller pensions and more expensive Uber rides…in the US;
- Job market slowdown and recession risk…in the US;
- Stronger dollar;
- Higher rates abroad.
Probably the only thing that's likely to affect you, if you live in that insignificant void outside the US known as the rest of the world, is #5. Possibly #4, if the thought of blubber-arsed, whiney yanks roaming far-and-wide doesn't float your boat.
But, then again, the article was written by Natalie Sherman, a business reporter in New York. So,
you might as well be a USAsian, otherwise
you don't count.