President Trump has changed the narrative about interest rates to “higher is always bad for whatever reason,” and “lower is always good for whatever reason.” This is incorrect. If rates go to 6% because of a strong economy, and see earnings and the low unemployment rate, this will be a good thing. If rates go to 6% driven by accelerated inflation, this will be a bad thing. The why matters more than the level when it comes to interest rate rates. But the worst thing is to use government and monetary policy to force them too low, and create speculative excesses. This results in malinvestment that often ends in tears. Grant Cardone: If 10 yr treasury hits 6% the entire planet has a 1930 depression.