[csomar]

It's still money and money is like sterile water. If the 0 risk interest rate is 4% and your little project will yield 1%, you are much better parking the money at the bank. Of course, it's a bit more complicated than that; and people like to do projects and build stuff.

But I have seen this in a construction company when interest rates were high (different country, not US). "Big Boss" was always "uncertain" about any new construction work and the bank paid him around 7% to park his money. Come the time when inflation started rising fast (that was 2018, pre-pandemic); and suddenly all that capital was deployed without an after-thought.

So yeah, these interest rates number have real effects.