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Greenspan was also extremely financially intelligent. Being financially knowledgeable is essential in surviving in the financial world today. Even more important is educating ourselves about interest rates because they play a huge role in our economy. I believe higher interest rates will improve the economy. Higher interest rates make it harder to borrow money, and in effect the value of the dollar increases and inflation goes down.
Interest rates are the cost of borrowing money, expressed as a percentage, usually over a period of one year. Just a few items that have interest rates are mortgages, automobiles, and credit cards...
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