Welcome to the age of dearer money.
Thanks to resurgent inflation, the US Federal Reserve has raised interest rates more aggressively than at any time since the 1980s, dragging along other central banks in its wake.
Investors must transition this regime change to one of higher interest rates and scarcer capital. Adaptation may not be easy, but taking the long view could help. The new regime has history on its side; it was the era of cheap money that was so out of the ordinary.
